FR – Publication by the ANC of the new UCI chart of accounts

12/09/2022

On June 8, 2022, the Autorité des Normes Comptables (ANC) published ANC Regulation No. 2022-03, which amends ANC Regulation No. 2020-07 on the annual accounts of collective investment undertakings with variable capital, a modified version of which is also proposed pending the approval of the new text. The main amendments relate to:

• The financial statement format that is now common to all UCIs, including general purpose funds, private equity funds, OFSs*, etc.;

• The disappearance of the option of accounting for costs included in the cost price;

• The treatment of unrealised gains and losses, realised gains and losses and transaction fees, which are now recorded in the income statement;

• Taking into account the possibility of distributing unrealised capital gains and losses for money market funds (MMFs);

• Significant changes impacting the presentation of almost all financial statements, including the deletion of the off-balance sheet table (information still required in the appendix), the deletion of the aggregated presentation for sub-fund UCIs, etc.

 

*OFS: Organisme de FInancement Spécialisé or Specialised Financing Vehicle.

Head of Knowledge Management Strategy and Market Infrastructure - SGSS