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Article 321-123 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/321-123/20180103/notes

The intermediation fees referred to in b in Point 1° of Article 321-119:

  1. Must be directly related to order execution;

  2. Must not cover:

    a) The provision of goods or services that correspond to resources that the portfolio management should have for its programme of activity, such as administrative or accounting management, the purchase or leasing of premises, or compensation for staff;

    b) The provision of services for which the asset management company receives a management commission.