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French Monetary and Financial Code

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Article L214-23-2 of the French Monetary and Financial Code

November 8, 2023

I. – UCITS shall transmit, either directly or via the management company which manages them, the information concerning them to an approved body with legal personality responsible for managing a single market repository. This body is responsible for collecting, processing and disseminating this information. It brings together the professions involved in UCITS management. This body is approved, on the basis of its articles of association, by order of the minister…

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Article L214-24 of the French Monetary and Financial Code

November 8, 2023

I. – Investment funds governed by Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011, known as “AIFs”: 1° Raise capital from a number of investors with a view to investing it, in the interests of these investors, in accordance with an investment policy which these AIFs or their management companies define ; 2° Are not UCITS. Where the AIF does not delegate the management…

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Article L214-24-0 of the French Monetary and Financial Code

November 8, 2023

For the purposes of this paragraph, marketing means a direct or indirect offer or placement, at the initiative or on behalf of a French portfolio management company, a management company established in a Member State of the European Union or an asset manager established in a third country, of units or shares of an AIF that they manage, to investors domiciled or having their registered office in the European Union.

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Article L214-24-1 of the French Monetary and Financial Code

November 8, 2023

I. – Any French portfolio management company, any management company established in a Member State of the European Union or any asset manager established in a third country shall, prior to marketing in France units or shares of FIAs established in a Member State of the European Union or in a third country to professional clients, with or without a passport, send a notification to the Autorité des marchés financiers…

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Article L214-24-2 of the French Monetary and Financial Code

November 8, 2023

I. – Any French portfolio management company or any asset manager established in a third country whose reference Member State is France, which proposes to market, with a passport, to professional clients, units or shares of an AIF established in a Member State of the European Union or a third country, in a Member State of the European Union other than France, shall first send the Autorité des marchés financiers…

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Article L214-24-2-1 of the French Monetary and Financial Code

November 8, 2023

Any French portfolio management company may pre-market units or shares of a European Union AIF to professional clients in France or in another Member State of the European Union under conditions laid down by decree. The General Regulation of the Autorité des marchés financiers shall set out the procedures for notifying the Autorité des marchés financiers of pre-marketing activities. For the purposes of this article, pre-marketing is defined as the…

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Article L214-24-4 of the French Monetary and Financial Code

November 8, 2023

The AIF or its management company shall ensure that a single custodian is appointed. Under the conditions laid down in the General Regulations of the Autorité des marchés financiers, the appointment of the custodian shall be evidenced by a written contract. This contract shall in particular define the information required to enable the custodian to fulfil its duties.

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Article L214-24-6 of the French Monetary and Financial Code

November 8, 2023

To avoid conflicts of interest between the depositary, the management company, the AIF and its unit-holders or shareholders: 1° The AIF or its management company does not act as depositary ; 2° A principal broker acting as counterparty to the AIF may not be its depositary unless it has functionally and hierarchically separated the performance of its depositary duties from its principal broker duties and potential conflicts of interest are…

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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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French Business Lawyers

Resources 

Contacts
Linkedin

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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