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Article 321-136 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/321-136/20180103/notes

Asset management companies shall establish and maintain effective and adequate procedures to control the circulation and use of inside information, as defined in Article 7 of Regulation (EU) n° 596/2014 of the European Parliament and of the Council of 16 April 2014, with the exception of paragraph 1.c of that same Article, taking into account the activities conducted by the group to which the asset management company belongs and the organisation adopted by that group. These procedures, called "information barriers", shall provide for:

  1. Identification of business segments, divisions, departments or any other entities likely to possess inside information;

  2. Organisation, in particular physical organisation, so as to separate entities within which the relevant persons referred to in II of Article 321-31 are likely to possess inside information;

  3. Prohibition of disclosure of inside information by the persons possessing it to other persons, except as provided for in Article 10 of the market abuse Regulation (Regulation n° 596/2014/EU) and after informing the compliance and internal control officer;

  4. The conditions in which the asset management company may authorise a relevant person assigned to a given entity to provide assistance to another entity, whenever one of the two entities is likely to possess inside information. The compliance and internal control officer shall be informed whenever the relevant person assists the entity possessing inside information;

  5. The manner in which the relevant person benefiting from the authorisation provided for in 4° is informed of the temporary consequences thereof on the performance of his regular duties.

    The compliance and internal control officer shall be informed when this person returns to his regular duties.