Article 321-39 into force since 11 September 2026

I - Portfolio asset management companies may entrust to an external organisation which can provide evidence of its ability to organise examinations, the verification of the professional knowledge of the physical persons under their authority or acting on their behalf and who carry out one of the functions referred to in Article 321-37 (II);

1. the Financial Skills Certification Board mentioned in Article 312-5 shall also issue opinions at the request of the AMF on the certification of organisations that can prove they have the capacity to organise examinations;

2. the Financial Skills Certification Board issues opinions at the request of the AMF on the need to introduce optional or mandatory modules in addition to the content of minimum knowledge, and on the functions subject to these modules;

3. when rendering opinions, the Financial Skills Certification Board considers the possibility of establishing equivalencies with similar schemes abroad.

II. - Further to an opinion of the Financial Skills Certification Board, the AMF:

1. determines the content of the minimum knowledge to be acquired by natural persons acting under the authority or on behalf of an asset management company and performing one of the functions referred to in Article 321-37 (II). It shall publish that content:

2. defines the content of the modules completing the minimum knowledge mentioned in 1°. It publishes the content of these modules;

3. ensures that the content of this minimum knowledge and complementary modules is updated;

4. determines and verifies the arrangements for the examinations and complementary modules that validate acquisition of the knowledge;

5. notifies its decision to the bodies that have submitted an application for certification within four months from the date of receipt of a complete application dossier complying with the standard application file. The AMF may request from the applicant any additional information necessary for the examination of the application. The time limit applicable to the AMF shall be suspended until receipt of the additional information required for the examination of the application. In such cases, the body shall have six months from the date of the request to provide such information to the AMF. If the six-month period expires without the requested information having been provided, the body’s application for certification shall be deemed to have been rejected.

   The certified body shall submit an information report to the AMF on the anniversary of the date on which it was certified, and every three years thereafter. It shall also submit a simplified annual activity report to the AMF every year.

The AMF shall charge an application fee when applications for certification are filed and simplified annual activity reports are submitted.