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ESMA has compiled the information on published sanctions on the basis of notifications made to it by the national competent authorities of the Member States [of the European Economic Area (EEA)]. This compilation has been carried out with utmost care and to the best of its ability and ESMA endeavours to continuously update the information provided. For further information please refer to the website of the competent national supervisory authorities. In addition to the above provisions, attention is also drawn to the Legal Notice of the ESMA website. |
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Sanction details
Sanction
- Sanction legal framework
- UCITS
- Member state
- LUXEMBOURG
- Sanctioning authority
- Commission de Surveillance du Secteur Financier (CSSF)
- Sanction nature
- Administrative sanction and measure
- Sanction date
- 15/01/2020
- Sanction expiration date
- 24/09/2025
- Sanctioned entity name
- NATIXIS INVESTMENT MANAGERS S.A.
- Sanctioned entity legal framework
- UCITS
- Sanctioned entity LEI
- Free Text 1 (French)
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En date du 15 janvier 2020, en application des dispositions de l’article 148, paragraphe 4, point e) de la loi modifiée du 17 décembre 2010 concernant les organismes de placement collectif (la « Loi ») et en tenant compte des dispositions de l’article 149bis de ladite Loi, la CSSF a prononcé une amende d’ordre d’un montant de 27.000 EUR à l’encontre du gestionnaire de fonds d’investissement Natixis Investment Managers S.A. (le « Gestionnaire »). L’amende a été prononcée sur base des dispositions de l’article 148, paragraphe 2, points g) et j) de la Loi et fait suite à un contrôle sur place effectué par la CSSF auprès du Gestionnaire durant lequel ont été mis en évidence des manquements ponctuels aux dispositions de la Loi relatives aux exigences générales en matière de procédures et d’organisation ainsi qu’aux exigences en matière de délégation de fonctions. Afin de déterminer le montant de l’amende d’ordre, la CSSF a pris en considération les actions correctrices déjà entreprises par le Gestionnaire pour pallier les déficiences constatées, ainsi que celles qu’il s’est engagé à mettre en place.
- Free Text 2 (English)
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On 15 January 2020, pursuant to Article 148(4)(e) of the amended Law of 17 December 2010 relating to undertakings for collective investment (the “Law”), and taking into account Article 149a of the said Law, the CSSF has imposed an administrative fine of EUR 27,000 on the investment fund manager Natixis Investment Managers S.A. (the “Manager”) The administrative fine has been imposed on the basis of Article 148(2)(g) and (j) of the Law and is the result of an on-site inspection carried out by the CSSF to the Manager during which have been identified some isolated failures to comply with the provisions of the Law relating to general requirements on procedures and organization and the requirements with regards to the delegation of functions. In determining the amount of the administrative fine, the CSSF has taken into consideration the remedial actions already undertaken by the Manager in order to address the deficiencies identified, as well as those the Manager is committed to implementing.
- Last update
- 13/10/2020
En date du 15 janvier 2020, en application des dispositions de l’article 148, paragraphe 4, point e) de la loi modifiée du 17 décembre 2010 concernant les organismes de placement collectif (la « Loi ») et en tenant compte des dispositions de l’article 149bis de ladite Loi, la CSSF a prononcé une amende d’ordre d’un montant de 27.000 EUR à l’encontre du gestionnaire de fonds d’investissement Natixis Investment Managers S.A. (le « Gestionnaire »). L’amende a été prononcée sur base des dispositions de l’article 148, paragraphe 2, points g) et j) de la Loi et fait suite à un contrôle sur place effectué par la CSSF auprès du Gestionnaire durant lequel ont été mis en évidence des manquements ponctuels aux dispositions de la Loi relatives aux exigences générales en matière de procédures et d’organisation ainsi qu’aux exigences en matière de délégation de fonctions. Afin de déterminer le montant de l’amende d’ordre, la CSSF a pris en considération les actions correctrices déjà entreprises par le Gestionnaire pour pallier les déficiences constatées, ainsi que celles qu’il s’est engagé à mettre en place.
On 15 January 2020, pursuant to Article 148(4)(e) of the amended Law of 17 December 2010 relating to undertakings for collective investment (the “Law”), and taking into account Article 149a of the said Law, the CSSF has imposed an administrative fine of EUR 27,000 on the investment fund manager Natixis Investment Managers S.A. (the “Manager”) The administrative fine has been imposed on the basis of Article 148(2)(g) and (j) of the Law and is the result of an on-site inspection carried out by the CSSF to the Manager during which have been identified some isolated failures to comply with the provisions of the Law relating to general requirements on procedures and organization and the requirements with regards to the delegation of functions. In determining the amount of the administrative fine, the CSSF has taken into consideration the remedial actions already undertaken by the Manager in order to address the deficiencies identified, as well as those the Manager is committed to implementing.