Paragraph 2: European UCITS management companies

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L532-20-1L532-20-2L532-21-2

Article L532-20-2

French Monetary and Financial CodeIn force
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Updated 7 Nov 2023

I.-A management company established in another Member State of the European Union or party to the Agreement on the European Economic Area which applies to manage a UCITS governed by French law and authorised in accordance with Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 shall provide the following documents to the Autorité des marchés financiers:

1° The written agreement with the depositary referred to in Article L. 214-10;

2° Information on the delegation arrangements for administration and investment management functions.

Where a management company already manages a French UCITS authorised in accordance with Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009, a reference to the documentation already provided is sufficient.

II - The AMF may ask the competent authorities of the management company's home country to provide clarifications and information concerning the documents referred to in I and to verify, on the basis of the attestation that the management company has been authorised in accordance with Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009, whether or not the type of UCITS for which authorisation is sought falls within the scope of the authorisation granted to the management company.

III - The Autorité des marchés financiers may reject the management company's application if the management company:

1° Does not comply with the rules it is responsible for ensuring compliance with pursuant to Article L. 532-20-1 ;

2° Is not authorised by the competent authorities of its home State to manage a UCITS authorised in accordance with Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009; or

3° has not provided the documents mentioned in I.

Before rejecting an application, the AMF will consult the competent authorities of the management company's home country.

IV - The management company must notify the Autorité des marchés financiers of any subsequent material amendment to the documents referred to in I.

Mariela Petrova

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Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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