Regulatory AlertsDOC-2008-14 Performance Swaps on UCITS and Structured Products on Active Management
The Autorité des Marchés Financiers (AMF) issued Position DOC-2008-14 to clarify regulatory requirements for UCITS utilizing performance swaps or active management structured products. The guidance addresses key operational areas including investment rules, valuation methodologies, management company autonomy, conflict of interest prevention, and investor information. The document explicitly notes that it has not been updated to reflect the transposition of MiFID II or the separation of legal regimes for investment firms and portfolio management companies.
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