FR - Extension of the list of CIS eligible counterparties
On 24 October 2019, France published Decree No. 2019-1078 of 22 October 2019 in the Official Journal, extending the list of eligible counterparties for collective investment schemes (CIS).
The purpose of the decree is to strengthen the attractiveness of CIS and to update the legal framework of asset management. The decree extends the list of eligible counterparties for operations concluded by collective investment undertakings in their OTC operations. It also corrects two UCITS Directive over-transpositions relating firstly to money market instruments issued or guaranteed by third countries and secondly the ability of an AIF to acquire securities enabling it to exercise significant influence over the management of an issuer. This text also aims to extend shareholding to employees, in particular in cooperative and mutual banks.