Article L214-24-54 of the French Monetary and Financial Code
November 8, 2023
General purpose investment funds provide the Banque de France with the information required to compile monetary statistics.
General purpose investment funds provide the Banque de France with the information required to compile monetary statistics.
I. – Under conditions laid down by decree of the Conseil d’Etat, the assets of a general-purpose investment fund include : 1° Financial securities within the meaning of 1 and 2 of II of article L. 211-1, referred to as: eligible financial securities ; 2° Money market instruments normally traded on a money market, which are liquid and whose value can be determined at any time; 3° Units or shares…
Under conditions laid down by decree of the Conseil d’Etat, a general purpose investment fund may carry out temporary acquisitions and sales of financial instruments, as well as cash borrowings.
I. – The articles of association or fund rules of a general-purpose investment fund known as a “feeder general-purpose investment fund” may stipulate that all of its assets are invested in shares or units of a single FIA, known as a “master FIA”, or a single UCITS, known as a “master UCITS”, and, on an ancillary basis, in cash. A feeder general-purpose investment fund may enter into financial contracts under…
The feeder general-purpose investment fund shall enter into an information exchange agreement with the master AIF or UCITS. However, this agreement may be replaced by internal conduct of business rules when the master AIF or UCITS and the feeder general-purpose investment fund are managed by the same management company. When the master AIF or UCITS temporarily suspends subscriptions or redemptions of its units or shares pursuant to Articles L. 214-24-33…
I. – When the feeder general-purpose investment fund and the master AIF or UCITS do not have the same depositary, their depositaries shall enter into an information exchange agreement in order to ensure the fulfilment of their respective obligations. The feeder general-purpose investment fund shall provide its depositary with all necessary information concerning the master AIF or UCITS in order for the depositary to fulfil its obligations. II. – The…
The statutory auditors of the feeder general-purpose investment fund, the AIF or the master UCITS shall exchange the information necessary to fulfil their respective obligations. The General Regulation of the Autorité des marchés financiers shall specify the conditions of application of this article.
The feeder general-purpose investment fund shall monitor the activity of the master AIF or UCITS. In order to fulfil this obligation, it may rely on the information and documents received from the master AIF or UCITS or, where applicable, from the management company, custodian and auditor of this AIF or UCITS, unless it has reason to doubt the accuracy of the information and documents provided. The General Regulation of the…
I. – The SICAV and the management company, for each of the general-purpose investment funds it manages, shall publish : 1° A prospectus including, in particular, the SICAV’s articles of association or the fund rules ; 2° An annual report in accordance with Article L. 214-24-19; 3° A half-yearly report covering the first six months of the financial year. II. – The annual and half-yearly reports are published within the…
The Autorité des marchés financiers defines the conditions under which general-purpose investment funds must inform investors and may be advertised, in particular by audiovisual means, or canvassed. The articles of association or fund rules of general-purpose investment funds, as well as the documents intended for the information of their unitholders or shareholders, shall be drawn up in French. However, under the conditions set by the general regulations of the Autorité…
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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