Subsection 4: Injunctions, emergency measures and other measures

Articles in this section · 11

L621-13L621-13-1L621-13-2L621-13-3L621-13-4L621-13-5L621-13-6L621-13-7L621-13-8L621-13-9L621-14

Article L621-13-4

French Monetary and Financial CodeIn force
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Updated 7 Nov 2023

Where an AIF management company is unable to ensure compliance with the provisions of Subsection 1 of Section 2 of Chapter IV of Title I of Book II for which an AIF or another entity acting on its behalf is responsible, it shall immediately inform the Autorité des marchés financiers and, if necessary, the competent authorities of the European Union AIF or of a State party to the Agreement on the European Economic Area concerned. The Autorité des marchés financiers shall require the management company to take the necessary measures to remedy the situation.

If, despite the measures taken by the competent authorities responsible for the AIF, non-compliance with the requirements persists, and insofar as it is a management company established in the European Union or in a State party to the agreement on the European Economic Area or an AIF of the European Union or of a State party to the agreement on the European Economic Area, the Autorité des marchés financiers shall require the resignation of this company in its capacity as management company of this AIF under the conditions laid down in the general regulations of the Autorité des marchés financiers. In this case, the AIF is no longer marketed in the European Union or in a State party to the Agreement on the European Economic Area. If the fund manager is established in a third country and manages a third-country AIF, the AIF is no longer marketed in the European Union or in a State party to the Agreement on the European Economic Area. The Autorité des marchés financiers shall immediately inform the competent authorities of the AIFM's host countries. The authorised representative appointed by the Financial Markets Authority to supervise the company until its resignation takes effect chooses, where appropriate, another portfolio management company to manage the AIF. Such agent shall be remunerated for the performance of its duties by the portfolio management company in accordance with the conditions laid down in the General Regulations of the Autorité des marchés financiers.

This article applies to the management companies of the following AIFs:

a) Falling under II of Article L. 214-24, excluding those mentioned in its last paragraph, and excluding AIFs falling under I of Article L. 214-167 and those mentioned in the second paragraph of III of Article L. 532-9;

b) Relevant to 1° of III of Article L. 214-24.

Mariela Petrova

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Working with a corporate lawyer in France — Q&A

Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

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