CHAPTER II ADMINISTRATIVE PROCEDURES AND CONTROL MECHANISM(Article 12(1)(a) and Article 14(1)(c) of Directive 2009/65/EC)

SECTION 2 Administrative and accounting procedures

Article 7 Electronic data processing

1. Member States shall require management companies to make appropriate arrangements for suitable electronic systems so as to permit a timely and proper recording of each portfolio transaction or subscription or redemption order in order to be able to comply with Articles 14 and 15.

2. Member States shall require management companies to ensure a high level of security during the electronic data processing as well as integrity and confidentiality of the recorded information, as appropriate.