Book V: Service providers

When assessing the notification provided for in I of Article L. 532-9-1, the AMF shall assess, for the purpose of ensuring that the portfolio management company targeted by the proposed acquisition has sound and prudent management and taking into account the likely influence of the proposed acquirer on the portfolio management company, the suitability of the proposed acquirer and the financial soundness of the proposed acquisition by applying all of…

The AMF shall draw up a list of the information that it deems necessary to carry out the assessment provided for in Article R. 532-15-1 and that must be communicated to it as part of the notification provided for in I of Article L. 532-9-1. This list is accessible on the AMF website. The information requested shall be proportionate and appropriate to the nature of the proposed acquirer and the…

The Autorité des marchés financiers may oppose the proposed acquisition only if there are reasonable grounds for doing so based solely on the criteria set out in Article R. 532-15-1, or if the information provided by the proposed acquirer pursuant to Article R. 532-15-2 is incomplete.

Where it is authorised to provide one or more investment services, the portfolio management company shall, for the provision of such services, comply with the provisions of this Title applicable to portfolio management companies and the provisions applicable to investment firms.

The period of time after which the AMF’s silence on applications for professional certification from bodies that organise examinations to verify the professional knowledge of individuals placed under the authority of or acting on behalf of portfolio management companies is deemed to constitute a decision to accept the application is four months from the date of receipt of the complete application.