On 9 May, AMF updated rules regarding transposition of MiFID II.
- AMF updating rules (instructions, positions and recommendations) to reflect impact
of transposition of MiFID II, and introduce new regime for asset management firms.
- Separation of regime of portfolio management firms, from that of investment firms.
- Portfolio firms cannot just provide the portfolio management service for third party.
- Must be in addition to its UCITS or AIF management activity, subject to conditions.
- AMF updated four documents to reflect this change, DOC-2008-03, on accreditation
procedure for portfolio management firms, disclosure duties, passport.
- DOC-2016-01 on procedure for the approval of UCITS depository investment firms,
the procedures for examining the specifications of other UCITS and AIF depositories.
- DOC-2009-24 on shareholding change in portfolio management firms, DOC-2017-10
on prudential valuation of acquisitions, increases in qualifying holdings.
- Changes from MiFID rules for funds are applicable from 9 May 2018.