Translation of "Investment management service " (English → French) :

RO: only portfolio management, closed-end investment trust services, open-ended investment funds services and securities custody services SI: excluding pension fund management.

BG: the specific commitments in respect of mode (4) on financial services are as well subject to the general limitations contained in the "all sectors" section.5.The admission to the market of new financial services or products may be subject to the existence of, and consistency with, a regulatory framework aimed at achieving the objectives indicated in Article 121.6.As a general rule and in a non discriminatory manner, financial institutions incorporated in a Member State of the Community must adopt a specific legal form.7.BG: insurance or banking activities, as well as securities trading and activities related thereto, are to be carried out separately by companies that are licensed for the supply of such services.8.HU: insurance, banking, securities and c ...[+++]ollective investment management services should be performed by legally separate and independently capitalised suppliers of financial services, although banks may be authorised to provide services in the securities field as well.9.HU: it is intended to bind direct branching once it is bound in the GATS, and under the conditions set therein.10.HU: the board of a financial institution should include at least two members, who are Hungarian citizens, residents in the meaning of the relevant foreign exchange regulations and have permanent residency in Hungary for at least one year.

specify the steps that investment firms might reasonably be expected to take to identify, prevent, manage and/or disclose conflicts of interest when providing various investment and ancillary services and combinations thereof, while leaving it to firms, subject to regulatory oversight, to determine the appropriate mix of prevention, management and disclosure.

When appropriate, the competent authorities of the host Member State shall, on receipt of the information referred to in paragraph 1, indicate to the management company the conditions, including the rules of conduct to be respected in the case of provision of the portfolio management service mentioned in Article 5(3) and of investment advisory services and custody, with which, in the interest of the general good, the management com ...[+++]pany must comply in the host Member State.

4. Before the branch of a management company starts business, the competent authorities of the host Member State shall, within two months of receiving the information referred to in paragraph 2, prepare for the supervision of the management company and, if necessary, indicate the conditions, including the rules mentioned in Articles 44 and 45 in force in the host Member State and the rules of conduct to be respected in the case of provision of the portfolio management service mentioned in Article 5(3) and of ...[+++]investment advisory services and custody, under which, in the interest of the general good, that business must be carried on in the host Member State.

Before the branch of a management company commences business, the competent authorities of the host Member State shall, within two months of receiving the information referred to in paragraph 2, prepare for the supervision of the management company and, if necessary, indicate the conditions, including the rules mentioned in Articles 44 and 45 in force in the host Member State and the rules of conduct to be respected in the case of provision of the portfolio management service mentioned in Article 5(3) and of ...[+++]investment advisory services and custody , under which, in the interest of the general good, that business must be carried on in the host Member State.