Regulatory AlertsDOC-2013-22 Q&A on the Transposition of the AIFM Directive into French Law
The French Autorité des Marchés Financiers (AMF) issued position DOC-2013-22 to clarify the transposition of the Alternative Investment Fund Managers (AIFM) Directive into French law. The document provides guidance to Alternative Investment Fund (AIF) managers regarding authorization or registration requirements, reporting obligations, and threshold crossing declarations, while also detailing the duties of AIF depositaries. Although the text notes that it has not yet been updated to reflect the separation of regimes under MiFID II, it remains a key reference for compliance with the AIFM framework.
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III - Service Providers III. 1 - Investment Service Providers III. 1.1. Authorization / Activity Program / Passport
Doctrine AIFM
Q&A on the Transposition of the AIFM Directive into French Law
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Applicable as of June 26, 2018 Position DOC-2013-22
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Summary Position DOC-2013-22 aims to answer professionals' questions regarding the transposition of the AIFM Directive. It provides clarification to Alternative Investment Fund (AIF) management actors on the necessity of authorization or registration, as well as their obligations regarding reporting and threshold crossing declarations. It also clarifies the obligations applicable to AIF depositaries.
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Reference texts
Article 33 of Ordinance 2013-676
Article L214-24 of the Monetary and Financial Code
Article L214-24-20 of the Monetary and Financial Code
Article L532-9 of the Monetary and Financial Code
Article D214-32-7-1 of the Monetary and Financial Code
Article 321-154 of the AMF General Regulation
European Regulation 231/2013
Guide to modernization measures applied to French collective investment schemes
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Position DOC-2013-22 aims to answer professionals' questions regarding the transposition of the AIFM Directive. It provides clarification to Alternative Investment Fund (AIF) management actors on the necessity of authorization or registration, as well as their obligations regarding reporting and threshold crossing declarations. It also clarifies the obligations applicable to AIF depositaries. This document has not been updated with regard to the texts transposing MiFID II and separating the legal regime of investment firms and portfolio management companies. This update will be carried out shortly.
Download the doctrine
Reference texts
Article 33 of Ordinance 2013-676
Article L214-24 of the Monetary and Financial Code
Article L214-24-20 of the Monetary and Financial Code
Article L532-9 of the Monetary and Financial Code
Article D214-32-7-1 of the Monetary and Financial Code
Article 321-154 of the AMF General Regulation
European Regulation 231/2013
Guide to modernization measures applied to French collective investment schemes
Position DOC-2013-22 aims to answer professionals' questions regarding the transposition of the AIFM Directive. It provides clarification to Alternative Investment Fund (AIF) management actors on the necessity of authorization or registration, as well as their obligations regarding reporting and threshold crossing declarations. It also clarifies the obligations applicable to AIF depositaries.
Download the doctrine
Reference texts
Article 33 of Ordinance 2013-676
Article L.214-24 of the Monetary and Financial Code
Article L.214-24-20 of the Monetary and Financial Code
Article L.532-9 of the Monetary and Financial Code
Article D.214-32-7-1 of the Monetary and Financial Code
Article 311-1 A of the General Regulation
European Regulation 231/2013
Guide to modernization measures applied to French collective investment schemes
Position DOC-2013-22 aims to answer professionals' questions regarding the transposition of the AIFM Directive. It provides clarification to Alternative Investment Fund (AIF) management actors on the necessity of authorization or registration, as well as their obligations regarding reporting and threshold crossing declarations.
Download the doctrine
Reference texts
Article 33 of Ordinance 2013-676
Article L.214-24 of the Monetary and Financial Code
Article L.214-24-20 of the Monetary and Financial Code
Article L.532-9 of the Monetary and Financial Code
Article D.214-32-7-1 of the Monetary and Financial Code
Article 311-1 A of the General Regulation
European Regulation 231/2013
Guide to modernization measures applied to French collective investment schemes
Legal notices: Publisher: The Director of the Communication Department of the AMF. Contact: Communication Department, Autorité des marchés financiers - 17, place de la Bourse - 75082 Paris Cedex 02