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Regulation

Guide to the organisation of the risk management system within asset management companies

Relevant on June 20, 2017

The DOC-2014-06 recommendation details the expectations of the AMF for the operation and organisation of compliance, risk management, internal monitoring and periodic control functions within asset management companies (AMC). This guide specifies, notably, how different control functions should be structured and is aimed at AMCs that manage UCITS or AIFs and/or that provide a discretionary portfolio management service.

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Programme of operations guide for asset management companies and self-managed collective investments

Relevant on June 20, 2017

The position-recommandation DOC-2012-19 outlines how to complete the sections of the autorization application (including the program of operations) and complementary sheets. In particular it provides specific instructions on the “four eyes” (quatre yeux) rule, access to (information on) the position of the market member, the credit analysis, delegation and outsourcing, the practice of cash pooling (centralised treasury management authorised provided that certain conditions are met) as well as on internal control procedures.

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Risk management organisation for collective investment undertaking management activities and discretionary portfolio management investment services

Relevant on June 20, 2017

Collective investment undertaking management activities and discretionary portfolio management investment services are subject to specific risk management organisation rules (counterparty, liquidity and market risks and operational risk). The instruction DOC-2012-01 defines the permanent risk management function, the procedures for delegation to third parties and risk management policy and procedures (measurement, supervision, documentation and filing).

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Future performance simulations

Relevant on May 22, 2017

Recommendation DOC-2017-07 recalls the legislative and regulatory provisions that apply to investment service providers, crowdfunding investment advisers and financial investment advisers. It also set out recommendations on investor information on performance simulation tools and technical aspects to designing these simulation tools.

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Procedure for preparing and registering an information document that must be filed with the AMF by intermediaries in miscellaneous assets

Relevant on May 17, 2017

Instruction DOC-2017-06 provides details on the rules for preparing and registering the information documents that must be filed with the AMF by intermediaries in miscellaneous assets. It contains information on the guarantees that must be proven by the intermediaries in order to register an information document, the content of said document and the investor and AMF disclosure methods to which they are bound.

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Legal information
Head of publications: Florence Gaubert, Executive Director of AMF Communication Directorate.
Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02