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Book III - Service providers
Title I bis - Asset management companies of AIFs
Chapter V - Other provisions
Section 2 - Obligations relating to prevention of money laundering and financing of terrorism
Article 320-20 from 03/01/2018 to 10/09/2019

Article 320-20 into force from to

  • Version into force from to
ELI : /en/eli/fr/aai/amf/rg/article/320-20/20180103/notes

The asset management company shall draft and implement written internal procedures to ensure compliance with the provisions relating to the prevention of money laundering and terrorist financing. It shall update them periodically.

These internal procedures shall focus on:

  1. Assessing, monitoring and managing the risks of money laundering and terrorist financing;

  2. Implementing vigilance measures, such as:

    1. The requirements and procedures for accepting new clients and occasional clients;

    2. Due diligence for identifying and obtaining knowledge about clients, beneficial owners and the purpose and nature of the business relationship. The frequency of these information updates shall be specified;

    3. The additional vigilance measures referred to in Articles L. 561-10 and L. 561-10-2 of the Monetary and Financial Code and the requirements and procedures for their implementation.

    4. The information to be gathered and retained about the transactions referred to in II of Article L. 561-10-2 of the Monetary and Financial Code;

    5. The vigilance measures to be implemented with regard to any other risks identified by the risk classification referred to in Article 320-19;

    6. The procedures for implementing these vigilance obligations through a third party pursuant to Article L. 561-7 of the Monetary and Financial Code;

    7. The vigilance measures for determining the conditions in which it needs to sign the agreement referred to in Article R. 561-9 of the Monetary and Financial Code.

  3. If the asset management company belongs to a financial group, a mixed group or a financial conglomerate, the procedures for circulating the information needed to organise the prevention of money laundering and terrorist financing within the group as stipulated in Article L. 511-34 of the Monetary and Financial Code, while ensuring that this information is not used for any other purpose than the prevention of money laundering and terrorist financing;

  4. Detecting and dealing with unusual or suspicious transactions;

  5. Implementing the obligation to report and send information to the national financial intelligence unit;

  6. Procedures for sharing information about suspicious transaction reports sent to the national financial intelligence unit, when the entities concerned belong to a group or act on behalf of the same client and in the same transaction as stipulated in Articles L. 561-20 and L. 561-21 of the Monetary and Financial Code;

  7. The record-keeping procedures for the purposes of 2, as well as:

    1. The results of the enhanced examination referred to in Article R. 561-22 of the Monetary and Financial Code;

    2. The information, documents and reports about the transactions referred to in Article L. 561-15 of the Monetary and Financial Code.