Article L. 533-10 of the Code monétaire et financier establishes organisational obligations and conflict of interest management for investment service providers.

Article 314-97 of the AMF General Regulation requires an alert when portfolio losses exceed -10% of the portfolio.

The AMF recommends that performance fees should not exceed 30%. This information is mentioned in the criteria for identifying the mandatory content of the management mandate agreement.

According to Article D. 321-1 of the Code monétaire et financier, the three defining criteria of a management mandate are the discretionary nature of the management, the individualised nature of the portfolio managed according to the client's specific profile, and the existence of a contractual framework formalised by a written mandate between principal and agent.

The SFDR regulation indeed integrates sustainability preferences into the suitability assessment, as specified in the enhanced obligations introduced by MiFID II.

The MiFID II directive does indeed require an alert when portfolio losses exceed -10%, as specified in Delegated Regulation 2017/565.

Mandatory provisions of the management mandate include the management objectives, the types of authorised financial instruments, the terms for informing the principal, the duration, and the renewal and termination conditions. Other elements are not mandatory.

The legal definition of a management mandate according to Article D. 321-1 of the Code monétaire et financier is the discretionary and individualised management of portfolios comprising one or more financial instruments or greenhouse gas emission allowances under a mandate given by a third party.