Regulatory AlertsDOC-2007-19 Extra-financial criteria for asset selection and application to funds declaring compliance with Islamic law
The French Autorité des Marchés Financiers (AMF) details the conditions under which UCITS and AIFs may use non-financial criteria to select investment assets. The document specifically illustrates the application of these criteria to funds declaring compliance with Islamic law (Shari'ah). It references specific articles of the Monetary and Financial Code and the General Regulation of the AMF as the legal basis for these requirements.
Impression from a page of the AMF website
Please disable ad blockers to view this video.
II - Investment Products II. 1 - Collective Investments II. 1.1. Provisions common to UCITS and AIFs
Doctrine UCITS
Extra-financial criteria for asset selection and application to funds declaring compliance with Islamic law
Share by email
Applicable from June 26, 2018 Position DOC-2007-19
Download Viewed Version
Summary Position DOC-2007-19 details the conditions under which a collective investment scheme (OPC) may use criteria other than financial ones to select the assets in which it invests and illustrates the application of these criteria to funds declaring compliance with Islamic law (Shari'ah).
Download the doctrine Reference texts
Article L214-9 of the Monetary and Financial Code
Article L214-24-44 of the Monetary and Financial Code
Article R214-22 I of the Monetary and Financial Code
Article R214-32-30 I of the Monetary and Financial Code
Articles 318-1 et seq. of the General Regulation
Article 321-23 of the General Regulation
Criteria applicable to sharing funds Archives
Position DOC-2007-19 details the conditions under which a collective investment scheme (OPC) may use criteria other than financial ones to select the assets in which it invests and illustrates the application of these criteria to funds declaring compliance with Islamic law (Shari'ah). This document has not been updated regarding 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 L.214-9 of the Monetary and Financial Code
Article L.214-24-44 of the Monetary and Financial Code
Article R.214-22 I of the Monetary and Financial Code
Article R.214-32-30 I of the Monetary and Financial Code
Article 318-1 et seq. of the General Regulation
Article 313-54 of the General Regulation
Criteria applicable to sharing funds
The AMF details the conditions under which a UCITS may use criteria other than financial ones to select the assets in which it invests and illustrates the application of these criteria to UCITS declaring compliance with Islamic law (Shari'ah).
Download the doctrine Reference texts
Article L.214-9 of the Monetary and Financial Code
Article R.214-22 I of the Monetary and Financial Code
Article 313-54 of the General Regulation
Criteria applicable to sharing funds
Download the doctrine 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