Tax & Finance

#2026-19518 Mart 2026 tarihli ve 2026-195 sayılı, alternatif yatırım fonlarının takas odalarına erişim koşullarını değiştiren karar

🇫🇷France··Other·Medium Impact·View source ↗

AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.

🇬🇧 English

This decree modifies the access conditions for alternative investment funds to clearing houses. It allows these funds to provide guarantees or equivalent commitments from specified entities to cover their obligations to the clearing house. Additionally, it updates references to previous regulations and directives to align with current legal frameworks.

AI-generated summary. May contain errors. Refer to official sources for legal decisions.

Key Changes

  • Allows alternative investment funds to provide guarantees from specified entities for obligations to clearing houses.
  • Updates references to previous regulations and directives to current legal standards.

Obligations

What this law requires

high

Alternative investment funds must provide a guarantee or equivalent commitment from specified entities (as listed in points 1, 2, and 5 of article L. 440-2) to cover all or part of their obligations to the clearing house, in accordance with the clearing house's operating rules.

Alternative investment funds accessing clearing houses
operational
medium

Update internal references from decree 2019-1097 of August 20, 2019 to decree 2026-195 of March 18, 2026 in articles D. 762-12, D. 763-12, and D. 764-12 of applicable regulations.

Financial regulatory bodies and clearing houses
operational
medium

Replace references to directive 2009/65/CE with references to provisions applicable in metropolitan France under that directive.

Financial regulatory bodies administering articles D. 762-12, D. 763-12, and D. 764-12
operational
medium

Replace references to article 4, paragraph 1, point a of directive 2011/61/UE and article 111 of delegated regulation 231/2013 with references to provisions applicable in metropolitan France under those instruments.

Financial regulatory bodies administering articles D. 762-12, D. 763-12, and D. 764-12
operational
high

Alternative investment funds must provide a guarantee or equivalent commitment from specified entities (as listed in points 1, 2, and 5 of article L. 440-2) to cover all or part of their obligations to the clearing house, unless they were exempted before December 19, 2012

Alternative investment funds seeking access to clearing houses
operational

Affected Parties

Alternative investment fundsClearing houses+1 more…

Tags

investment,finance,regulation