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Article 320-5 into force from to

  • Version into force from to
ELI : /en/eli/fr/aai/amf/rg/article/320-5/20180103/notes

I. - Asset management companies shall establish and maintain an appropriate procedure for monitoring compliance with any restrictions that apply to:

  1. Transactions in financial instruments by the asset management company for its own account;

  2. Personal transactions, within the meaning of Article 63 of Delegated Regulation (EU) n° 231/2013 of the Commission of 19 December 2012, made by or on behalf of the relevant persons referred to in point 2 of Article 1 of the same Regulation;

II. - To this end, the compliance and internal control officer shall establish a restricted list. This list includes those issuers or financial instruments in which the authorised provider must restrict its activities, or the activities of relevant persons, because of:

  1. Legal or regulatory provisions to which the asset management company is subject, other than those resulting from the abstention requirements set out in Articles 8, 10 and 14 of the market abuse regulation (regulation n° 596/2014/EU);

  2. The application of undertakings given on the occasion of a financial transaction.

When an asset management company deems it necessary to prohibit or restrict the performance of an investment service, an investment activity or an ancillary service in respect of certain issuers or financial instruments, those issuers and financial instruments shall also be included on the restricted list.