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DOC-2012-15 Criteria Applicable to Collective Sharing Investments
The French Financial Markets Authority (AMF) issued DOC-2012-15 to define the specific criteria that collective investment schemes must meet to qualify as 'sharing' investments. The document mandates strict adherence to rules regarding beneficiary eligibility, donation distribution methods, investor information, and donation calculation mechanisms. Although the text notes it has not yet been updated to reflect MIF 2 transposition, it establishes the foundational regulatory framework for this specific product classification.
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II - Investment Products
II. 1 - Collective Investments
II. 1.1. Provisions Common to UCITS and AIFs
Doctrine
Collective Investments
Criteria Applicable to Collective Sharing Investments
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Applicable as of February 16, 2023
Position DOC-2012-15
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Summary
A "sharing" collective investment must, in order to use this qualification, comply with specific rules regarding the nature of beneficiaries, the methods of donation disbursement, information provided to holders, and the methods of calculating donations.
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Reference texts
Article 319-16 of the General Regulation
Article 321-120 of the General Regulation
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A "sharing" collective investment must, in order to use this qualification, comply with specific rules regarding the nature of beneficiaries, the methods of donation disbursement, information provided to holders, and the methods of calculating donations.
Download the doctrine
Reference texts
Article 319-16 of the General Regulation
Article 321-120 of the General Regulation
A "sharing" collective investment must, in order to use this qualification, comply with specific rules regarding the nature of beneficiaries, the methods of donation disbursement, information provided to holders, and the methods of calculating donations. This document has not been updated regarding texts transposing MIF 2 and/or separating the legal regime of investment firms and portfolio management companies. This update will be carried out shortly.
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Reference texts
Article 314-80 of the General Regulation
Article 319-16 of the General Regulation
A "sharing" collective investment (UCITS or OPCI) must, in order to use this qualification, comply with specific rules regarding the nature of beneficiaries, the methods of donation disbursement, information provided to holders, and the methods of calculating donations.
Download the doctrine
Reference texts
Article 314-80 of the General Regulation
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
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