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ROSA Extranet: changes to authorisation and declaration processes for collective investments
28 March 2024

ROSA Extranet: changes to authorisation and declaration processes for collective investments

Following the approval of the amendments to its General Regulation and as part of the launch of the ROSA extranet for collective investments, the Autorité des Marchés Financiers (AMF) has updated its policy.

The launch of the ROSA extranet for collective investments on 28 March 2024, replacing the GECO database, entails changes to how information is exchanged between the AMF and industry professionals, necessitating a number of updates to AMF policy which have been published today. 

As mentioned in the AMF news release of 20 December 2023, the tool will apply to all collective investments, with the exception of real estate investment companies (SCPI), forestry investment companies (SEF), forestry investment groupings (GFI) and securitisation vehicles (SV), for which it will be possible to exchange information with the AMF via the ROSA extranet at a later date. In the meantime, an ad hoc process available on the ROSA extranet will be put in place for these collective investment undertakings (CIU).

It should also be noted that the updates to the policy documents essentially relate to the procedures for the exchange of information between the AMF and investment management companies. No substantive changes have been made to the applicable rules, with one exception for a change in prime broker, which will no longer be subject to prior authorisation by the AMF.

Investment management companies authorised in another Member State of the European Union or the European Economic Area and managing UCITS or AIFs established in France will also have access to the ROSA extranet (for both French UCITS or AIFs, and any foreign UCITS or AIFs marketed in France). Only foreign investment management companies that do not manage any UCITS or AIFs in France will continue to send the AMF the information required to market foreign UCITS or AIFs by email. Instructions DOC-2011-19 and DOC-2014-03 have been amended to this effect.

The affected policy documents have been published today, including a redline version in order to help professionals understand the changes made to the policies.