The AMF published its fourth Regulation and Asset Management Newsletter. The AMF announces the first two measures of the collective investment reforms being implemented under its Better Regulation approach.
On 7 January, it will inaugurate a new fast-track fund authorisation procedure. The new procedure, which will take half as long as the standard authorisation system, will allow management companies to get a new fund authorised in under eight business days provided it is similar to one that has already been authorised.
At the same time, the AMF will introduce a fully electronic system that will go from application filing to notification of authorisation. This will save even more time and speed up the launch of new funds. Initially reserved for fast-track authorisations, the electronic system will be extended in February to all initial authorisations for general purpose funds, funds with streamlined investment rules, futures and options funds and company savings schemes, and then in March to fund conversion applications.
Regulation and Asset Management Newsletter No4 - 4th Quarter 2007
© AMF - Autorité des Marchés Financiers
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