Article 320-17 into force since 11 September 2019

The asset management company shall appoint a member of management to be responsible for implementing the anti-money laundering and terrorist financing system stipulated in Article L. 561-32 of the Monetary and Financial Code. Where appropriate, such a person shall also be appointed at the level of the group defined in Article L. 561-33 of the Monetary and Financial Code.

This manager may delegate some or all of the implementation under the following conditions:

1. the empowered person must have the necessary authority, resources and skills, and access to all relevant information;

2. the empowered person must not be involved in the execution of the services and activities under supervision.

The manager shall remain responsible for the delegated activities.