Summary of SPOT inspection on compliance with non-financial contractual commitments by portfolio asset management companies

As announced by the Autorité des Marchés Financiers (AMF) in the presentation of its supervisory priorities for 2022, it has conducted a study and a SPOT inspection campaign (Supervision des Pratiques Opérationnelle et Thématique - operational and thematic supervision of practices) on compliance with non-financial contractual commitments by funds (UCITS and AIFs) managed by portfolio asset management companies (AMCs). In practice, the AMF reviewed the systems for defining, managing and controlling these commitments, in a representative sample of AMCs. The AMF also assessed the level of compliance of these practices with the AMCs’ regulatory obligations and identified good and poor practices in this field.