Article 421-26 into force since
- Version into force since
I. - Without prejudice to the legal and regulatory provisions applicable to the provision of the service of investment advice, an asset management company, management company or AIF manager that markets the units or shares of AIFs under its management shall comply with the conduct of business rules applicable to the service of order execution for third parties provided for in Chapter IV of Title I of Book III, while an asset management company, management company or AIF manager that markets the units or shares of AIFs managed by other entities shall comply with the conduct of business rules applicable to the service of order reception and transmission for third parties provided for in Chapter IV of Title I of Book III.
An AMF Instruction shall stipulate the conditions for applying the provisions of this Article.
II. - Any person marketing units or shares of AIFs or units or shares of sub-funds shall ensure that the investor meets the subscription requirements for that AIF.
Where the AIF or its asset management company, management company or AIF manager has entered into a contract to distribute the units or shares of the AIF, the contract shall specify how investors may obtain access to investor disclosure documents.
III. - The marketing of AIF shares or units in France is subject to a requirement that rules or instruments of incorporation and documents intended to provide information holders be provided in French.
Notwithstanding the previous paragraph, these documents may be drafted in a language customary in the sphere of finance other than French, if the marketing is directed at professional clients and after the person marketing the UCITS shares or units has ensured:
With professional clients, that he has consented to receive the documents in that language;
With non-professional clients, that he understands that language.
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02