Title III: Investment services providers

When the Autorité des marchés financiers considers that the AIFM may rely on the provisions of Article L. 532-31, it shall notify the European Securities and Markets Authority without delay. The AMF shall provide the following information to support its assessment: 1° A list of the provisions of this section with which the AIFM cannot comply ; 2° A demonstration, based on the technical standards of the European Securities and…

The Autorité des marchés financiers shall inform the European Securities and Markets Authority without delay of the outcome of the initial authorisation procedure, of any change in the AIFM’s authorisation and of any withdrawal of authorisation. When informing the European Securities and Markets Authority of applications for authorisation that it has refused, the AMF shall provide details of the AIFM that has applied for authorisation and the reasons for its…

I. – The AIFM’s subsequent operations in the European Union have no impact on the designation of France as the reference Member State. However, if the AIFM modifies its marketing strategy within two years of its initial authorisation and if this new strategy, if it had been the initial marketing strategy, would have had the effect of calling into question the designation of France as the reference Member State, the…

I. – If the actual development of the AIFM’s operations in the European Union within two years of its authorisation indicates that the marketing strategy as presented at the time of authorisation has not been followed or that it has made false statements, or if it has failed to fulfil its obligations under Article L. 532-39, the AMF shall ask the AIFM to indicate its new reference Member State. If…

Any dispute arising between the Autorité des marchés financiers and the AIFM established in a third country of which France is the reference Member State shall be subject to the jurisdiction of the French courts. Any dispute between the AIFM established in a third country of which France is the reference Member State and unitholders or shareholders in the European Union of the AIF concerned shall be subject to the…

Where a competent authority of a third country fails to comply with a request for information exchange referred to in 2° of Article L. 532-29, the AMF may refer the matter to the European Securities and Markets Authority.

I. – 1. When an AIFM established in a third country and whose reference Member State is France intends to manage units or shares of AIFs established in another Member State of the European Union, either directly or by establishing a branch, the AMF shall verify that the AIFM is authorised to manage this type of AIF; 2. When the AIFM referred to in the first paragraph intends to manage…