Regulatory AlertsDOC-2005-09 Portfolio Management Attestation Under Mandate
The French Financial Markets Authority (AMF) issued Instruction DOC-2005-09 to establish a standardized attestation model required under Article 322-8 of its General Regulation. This document mandates that account holders and portfolio managers formally confirm the existence of a portfolio management mandate while explicitly noting that the custodian is not required to know the mandate's terms. It further requires the parties to commit to notifying the custodian immediately in the event that the mandate is terminated.
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III - Service Providers III. 2 - Other Service Providers III. 2.1. Custodian Account Holders
Doctrine Asset Management
Portfolio Management Attestation Under Mandate
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Applicable as of December 7, 2005 Instruction DOC-2005-09
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Article 322-8 of the General Regulation
Single Article - Model of the Attestation
The attestation referred to in Article 322-8 of the AMF General Regulation conforms to the following model:
"We, the undersigned (name of the securities account holder), holder of securities account(s) No...., and (name of the portfolio management company, authorized by the Financial Markets Authority, or the investment service provider, authorized by the Prudential Control Authority), beneficiary of the mandate), attest to the existence of a portfolio management mandate entrusted by (name of the securities account holder) to (name of the mandate beneficiary).
We have duly noted that (name of the authorized custodian account holder) is not required to be aware of the terms of the mandate. We undertake, if this mandate is terminated, to notify without delay ( name of the authorized custodian account holder)."
Keywords
Portfolio Management Mandate Legal Notices: Publisher: The Director of the Communication Department of the AMF. Contact: Communication Department, Financial Markets Authority - 17, place de la Bourse - 75082 Paris Cedex 02