Article 313-12 en vigueur au
- Version into force since
I.- The manufacturer shall undertake an analysis for each financial instrument that it manufactures to assess:
the risks of poor outcomes for end clients posed by the financial instrument; and
in which circumstances these outcomes may occur.
II.- It shall assess the financial instrument under negative conditions covering what would happen if, for example:
the market environment deteriorates;
the manufacturer or a third party involved in manufacturing and or functioning of the financial instrument experiences financial difficulties or other counterparty risk materialises for the manufacturer or the third party;
the financial instrument fails to become commercially viable; or
demand for the financial instrument is much higher than anticipated, compromising its financial position or disrupting the market of the underlying assets.
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02