French Business Law - French Legislation

Article L532-3-2 of the French Monetary and Financial Code

November 7, 2023

Without prejudice to the provisions of Article L. 229-4 of the Commercial Code, the Autorité de contrôle prudentiel et de résolution also has the power to oppose, in accordance with the provisions of Article 8(14) and Article 19 of Council Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European Company (SE), the transfer of the registered office of an investment firm incorporated as a European…

Article L532-4 of the French Monetary and Financial Code

November 7, 2023

In granting approval for the programme of operations, the AMF assesses the quality of the programme in the light of the obligations set out in Articles L. 533-25 and L. 533-26, as well as the conditions under which the investment service provider other than a portfolio management company intends to provide the investment services concerned. The programme shall indicate the type of transactions envisaged and the organisational structure of the…

Article L532-6 of the French Monetary and Financial Code

November 7, 2023

The Autorité de contrôle prudentiel et de résolution may withdraw the authorisation of an investment firm at the request of the firm. It may also be decided ex officio by the AMF in the following cases: 1° The investment firm has obtained authorisation by making false statements or by any other irregular means ; 2° If it is class 1a, the investment firm no longer meets the prudential requirements set…

Article L532-7 of the French Monetary and Financial Code

November 7, 2023

The removal of an investment firm from the list of authorised investment firms other than a portfolio management company may be ordered as a disciplinary sanction by the Autorité de contrôle prudentiel et de résolution. Deregistration entails the liquidation of the legal entity if it has its registered office in France. In the case of branches of investment firms having their registered office outside the European Economic Area, this deregistration…

Article L532-8 of the French Monetary and Financial Code

November 7, 2023

The Minister responsible for the economy shall specify the conditions for the application of articles L. 532-6 and L. 532-7. In particular, it shall set the terms and conditions under which : a) Decisions to withdraw authorisation and to deregister are brought to the attention of the public ; b) Financial instruments held in accounts with the company may be transferred to an investment services provider other than a portfolio…

Article L532-9 of the French Monetary and Financial Code

November 7, 2023

I. – Portfolio management companies are legal entities which manage one or more : 1° UCITS ; 2° FIA ; 3° UCITS governed by foreign law and approved in accordance with Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 ; 4° FIA governed by foreign law and subject to Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011; 5°…

Article L532-9-1 of the French Monetary and Financial Code

November 7, 2023

I. – Changes in the ownership structure of a portfolio management company must be notified to the Autorité des marchés financiers. The acquisition or extension of direct or indirect shareholdings in a portfolio management company must be authorised by the Autorité des marchés financiers. When the AMF is notified of a direct or indirect reduction or disposal of a holding, it shall verify that the transaction does not call into…

Article L532-9-2 of the French Monetary and Financial Code

November 7, 2023

Without prejudice to the provisions of Article L. 229-4 of the Commercial Code, the Autorité des marchés financiers also has the power to oppose, in accordance with the provisions of Article 8(14) and Article 19 of Council Regulation (EC) No. 2157/2001 of 8 October 2001 on the Statute for a European Company (SE), the transfer of the registered office of an asset management company incorporated as a European Company registered…

Article L532-9-3 of the French Monetary and Financial Code

November 7, 2023

Without prejudice to the provisions of Article 26-6 of Law No 47-1775 of 10 September 1947 on the Statute for a Cooperative Society, the Autorité des marchés financiers is competent to oppose, in accordance with paragraph 14 of Article 7 and Article 21 of Council Regulation (EC) No 1435/2003 of 22 July 2003 on the Statute for a European Cooperative Society (SCE), the transfer of the registered office of an…

Article L532-10 of the French Monetary and Financial Code

November 7, 2023

The AMF may withdraw the authorisation of a portfolio management company at the company’s request. It may also be decided by the AMF on its own initiative if the company no longer fulfils the conditions or undertakings to which its authorisation or a subsequent authorisation was subject, or if the company has not made use of its authorisation within a period of twelve months, or if it has not been…

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French Monetary and Financial Code

Article L532-3-2 of the French Monetary and Financial Code

Article L532-4 of the French Monetary and Financial Code

Article L532-6 of the French Monetary and Financial Code

Article L532-7 of the French Monetary and Financial Code

Article L532-8 of the French Monetary and Financial Code

Article L532-9 of the French Monetary and Financial Code

Article L532-9-1 of the French Monetary and Financial Code

Article L532-9-2 of the French Monetary and Financial Code

Article L532-9-3 of the French Monetary and Financial Code

Article L532-10 of the French Monetary and Financial Code

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French Monetary and Financial Code

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