Holding Restrictions – Investment Funds – France
Restrictions on customers
For investment funds in both bearer and registered forms, CBL customers established or domiciled in France are not allowed to hold French investment funds on the Register market through CBL. It is the responsibility of the customer to ensure compliance with the restriction.
Certain funds may impose other specific restrictions on investor domicile. Customers must refer to and abide by the restrictions (if any) contained in the fund prospectus before entering into transactions.
Restrictions on settlement
There is no general restriction on settlement for French investment funds through CBL. However, certain funds may impose specific settlement/transfer restrictions. Customers must refer to and abide by the restrictions (if any) contained in the fund prospectus before entering into transactions.
The information contained in the Holding Restrictions is based on the legal opinion obtained by CBL that was issued on 9 May 2016. CBL believes the information to be correct as of that date but disclaims any responsibility as to the accuracy and completeness of the information after that date. In the case of discrepancy between the information provided by CBL and the local laws and regulations, the latter shall prevail. The Holdings Restrictions do not constitute legal advice and customers should seek advice from independent professional counsel.
Customers are responsible for ensuring compliance with the holding restrictions and agree to indemnify and hold harmless, CBL, for any loss, expense, liability, damage or claims, whether direct or indirect, against or incurred by CBL arising out of or resulting from such non-compliance.