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Policy IV - Marketing - Customer relationship Requirement to offer a guarantee (of the formula and/or capital, as appropriate) for structured UCITS and AIFs, “guaranteed” UCITS and AIFs and structured debt securities issued by special purpose entities and marketed to the general public

Abstract

The purpose of this position is to prevent the risk of mis-selling 'guaranteed' UCITS or AIFs, as well as structured debt securities presenting similar characteristics issued by special purpose entities, to the public. The AMF points out that if the guarantee of the formula result or of the capital is not provided by an authorised entity, there is a risk that retail clients may misunderstand the risks.

Marketing of complex financial instruments

Regulation > Policy > Policy principles

As structured funds and complex debt securities present risks that retail clients cannot easily understand, the AMF reminds professionals (investment services providers, financial investment advisers and direct marketers) of their obligations when marketing these products, and lays down four criteria for appraising mis-selling risks.

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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