The custodian may not delegate to third parties the functions conferred upon it by I and III of article L. 214-24-8. The custodian may delegate asset safekeeping functions to third parties under the conditions laid down in the General Regulations of the Autorité des marchés financiers.
I. – The AIF’s custodian is liable to the AIF or to the unitholders or shareholders for the loss by the custodian, or by a third party to whom custody has been delegated, of financial instruments held in custody in accordance with II of article L. 214-24-8. In the event of the loss of financial instruments held in safekeeping, the custodian shall return to the AIF financial instruments, including money…
The depositary may be held liable to the unit-holders or shareholders of the AIF either directly or indirectly through the management company, depending on the legal nature of the relationship between the depositary, the management company and the unit-holders or shareholders.
The Autorité des marchés financiers may obtain from the depositary, on simple request, all information obtained in the performance of its duties and necessary for the performance of its tasks. If the AIF is authorised or registered with another authority or if the management company has its registered office in another Member State or in a third country, the Autorité des marchés financiers shall immediately communicate the information received to…
The AIF or its management company is responsible for correctly valuing the assets of the AIF and for calculating and publishing its net asset value. The appointment of an external valuation expert by the AIF or the management company does not exonerate them from their respective responsibilities. The external valuation expert is liable to the AIF or its management company for any loss suffered by the latter and resulting from…
The AIF or its management company shall ensure that procedures are in place for the appropriate and independent valuation of the assets of the AIF and the calculation of the net asset value of its units or shares, in accordance with legislative and regulatory provisions. The General Regulation of the Autorité des marchés financiers specifies the rules for valuing assets and calculating the net asset value of AIF units or…
Under the conditions laid down in the general regulations of the Autorité des marchés financiers, AIFs or their management companies shall ensure that the valuation function is performed by : 1° An external valuation expert, who is either a natural person or a legal entity independent of the AIF or its management company and of any other person with close links to the AIF or the management company; 2° The…
I. – Where the AIF or its management company delegates the valuation function to an external valuation expert, the AIF or its management company must be able to demonstrate to the Autorité des marchés financiers that: 1° This expert is the subject of a compulsory professional registration recognised by legislative provisions or is subject to legislative or regulatory provisions or professional rules of conduct; 2° This expert offers sufficient professional…
The valuation is carried out impartially and with the necessary skill, care and diligence.
When the valuation is carried out in accordance with 2° of Article L. 214-24-15, the AMF may require that the valuation procedures implemented by the AIF or its management company, as well as the valuations carried out, be verified by an external valuation expert or, where applicable, by a statutory auditor.
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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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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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