Regulatory AlertsDOC-2008-04 Application of Conduct Rules During the Marketing of UCITS or AIF Shares or Units by Portfolio Management Companies, Management Companies and Managers
The French Autorité des Marchés Financiers (AMF) issued Instruction DOC-2008-04 to define the conduct rules applicable to the marketing in France of UCITS or AIF shares or units by portfolio management companies, EU-established management companies, and third-country managers. The instruction details the specific conduct requirements for taking investor orders for subscription or redemption, distinguishing between UCITS and OPCI products. The document explicitly notes that it has not yet been updated to reflect the legal separation of investment firms and portfolio management companies resulting from the transposition of MiFID II.
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