1±NDDGD
%8//(7,12)),&,(/
$UWLFOH
±V¶HQJDJHUj
'DQV O¶DFFRPSOLVVHPHQW GH OHXU PLVVLRQ GH YpULILFDWLRQ
YLVpH j O¶DUWLFOH FLGHVVXV OHV DJHQWV GH O¶DXWRULWp QDWLRQDOH
DLQVL TXH OHV H[SHUWV GpVLJQpV SDU HOOH RQW VXU MXVWLILFDWLRQ GH
OHXUV TXDOLWpV OH GURLW G¶DFFpGHU j WRXW pWDEOLVVHPHQW HW GH
SUHQGUH FRQQDLVVDQFH GH WRXV PpFDQLVPHV HW PR\HQV WHFKQLTXHV
UHODWLIVDX[VHUYLFHVGHFHUWLILFDWLRQpOHFWURQLTXHVpFXULVpHTX¶LOV
HVWLPHURQW XWLOHV RX QpFHVVDLUHV j O¶DFFRPSOLVVHPHQW GH OHXU
PLVVLRQ
±YpULILHUG¶XQHSDUWO¶LGHQWLWpGHODSHUVRQQHjODTXHOOH
XQFHUWLILFDWpOHFWURQLTXHHVWGpOLYUpHQH[LJHDQWG¶HOOH
ODSUpVHQWDWLRQG¶XQGRFXPHQWRIILFLHOG¶LGHQWLWpSRXU
V¶DVVXUHU TXH OD SHUVRQQH D OD FDSDFLWp OpJDOH GH
V¶HQJDJHU G¶DXWUH SDUW OD TXDOLWp GRQW FHWWH SHUVRQQH
VH SUpYDXW HW FRQVHUYHU OHV FDUDFWpULVWLTXHV HW
UpIpUHQFHV GHV GRFXPHQWV SUpVHQWpV SRXU MXVWLILHU GH
FHWWHLGHQWLWpHWGHFHWWHTXDOLWp
6HFWLRQ±'
'HVSUHVWDWDLUHVGHVHUYLFHV GHFHUWLILFDWLRQ
pOHFWURQLTXH
±V¶DVVXUHU DX PRPHQW GH OD GpOLYUDQFH GX FHUWLILFDW
pOHFWURQLTXH
$UWLFOH
6HXOVOHVSUHVWDWDLUHVGHVHUYLFHGHFHUWLILFDWLRQpOHFWURQLTXH
DJUppVGDQVOHVFRQGLWLRQVIL[pHVSDUODSUpVHQWHORLHWOHVWH[WHV
SULV SRXU VRQ DSSOLFDWLRQ SHXYHQW pPHWWUH HW GpOLYUHU OHV
FHUWLILFDWVpOHFWURQLTXHVVpFXULVpVHWJpUHUOHVVHUYLFHVTXL\VRQW
DIIpUHQWV
$UWLFOH
3RXUSRXYRLUrWUHDJUppHQTXDOLWpGHSUHVWDWDLUHGHVHUYLFHV
GH FHUWLILFDWLRQ pOHFWURQLTXH OH GHPDQGHXU GH O¶DJUpPHQW GRLW
rWUHFRQVWLWXpVRXVIRUPHGHVRFLpWpD\DQWVRQVLqJHVRFLDOVXUOH
WHUULWRLUHGX5R\DXPHHW
±lUHPSOLUGHVFRQGLWLRQVWHFKQLTXHVJDUDQWLVVDQW
D±ODILDELOLWpGHVVHUYLFHVGHFHUWLILFDWLRQpOHFWURQLTXHTX¶LO
IRXUQLW QRWDPPHQW OD VpFXULWp WHFKQLTXH HW
FU\SWRJUDSKLTXHGHVIRQFWLRQVTX¶DVVXUHQWOHVV\VWqPHV
HWOHVPR\HQVFU\SWRJUDSKLTXHVTX¶LOSURSRVH
E±OD FRQILGHQWLDOLWp GHV GRQQpHV GH FUpDWLRQ GH VLJQDWXUH
pOHFWURQLTXHTX¶LOIRXUQLWDXVLJQDWDLUH
F±OD GLVSRQLELOLWp G¶XQ SHUVRQQHO D\DQW OHV TXDOLILFDWLRQV
QpFHVVDLUHV j OD IRXUQLWXUH GH VHUYLFHV GH FHUWLILFDWLRQ
pOHFWURQLTXH
G±OD SRVVLELOLWp SRXU OD SHUVRQQH j TXL OH FHUWLILFDW
pOHFWURQLTXH D pWp GpOLYUp GH UpYRTXHU VDQV GpODL HW
DYHFFHUWLWXGHFHFHUWLILFDW
H±ODGpWHUPLQDWLRQDYHFSUpFLVLRQGHODGDWHHWO¶KHXUHGH
GpOLYUDQFHHWGHUpYRFDWLRQG¶XQFHUWLILFDWpOHFWURQLTXH
I±O¶H[LVWHQFHG¶XQV\VWqPHGHVpFXULWpSURSUHjSUpYHQLUOD
IDOVLILFDWLRQ GHV FHUWLILFDWV pOHFWURQLTXHV HW j V¶DVVXUHU
TXHOHVGRQQpHVGHFUpDWLRQGHODVLJQDWXUHpOHFWURQLTXH
FRUUHVSRQGHQW DX[ GRQQpHV GH VD YpULILFDWLRQ ORUVTXH
VRQW IRXUQLHV j OD IRLV GHV GRQQpHV GH FUpDWLRQ HW GHV
GRQQpHVGHYpULILFDWLRQGHODVLJQDWXUHpOHFWURQLTXH
±rWUHHQPHVXUHGHFRQVHUYHUpYHQWXHOOHPHQWVRXVIRUPH
pOHFWURQLTXH WRXWHV OHV LQIRUPDWLRQV UHODWLYHV DX FHUWLILFDW
pOHFWURQLTXH TXL SRXUUDLHQW V¶DYpUHU QpFHVVDLUHV SRXU IDLUH OD
SUHXYH HQ MXVWLFH GH OD FHUWLILFDWLRQ pOHFWURQLTXH VRXV UpVHUYH
TXH OHV V\VWqPHV GH FRQVHUYDWLRQ GHV FHUWLILFDWV pOHFWURQLTXH
JDUDQWLVVHQWTXH
D±O¶LQWURGXFWLRQ HW OD PRGLILFDWLRQ GHV GRQQpHV VRQW
UpVHUYpHVDX[VHXOHVSHUVRQQHVDXWRULVpHVjFHWHIIHWSDU
OHSUHVWDWDLUH
E±O¶DFFqV GX SXEOLF j XQ FHUWLILFDW pOHFWURQLTXH QH SHXW
DYRLUOLHXVDQVOHFRQVHQWHPHQWSUpDODEOHGXWLWXODLUHGX
FHUWLILFDW
F±WRXWHPRGLILFDWLRQGHQDWXUHjFRPSURPHWWUHODVpFXULWp
GXV\VWqPHSHXWrWUHGpWHFWpH
D TXHOHVLQIRUPDWLRQVTX¶LOFRQWLHQWVRQWH[DFWHV
E TXHOHVLJQDWDLUHTXL\HVWLGHQWLILpGpWLHQWOHVGRQQpHVGH
FUpDWLRQ GH VLJQDWXUH pOHFWURQLTXH FRUUHVSRQGDQW DX[ GRQQpHV GH
YpULILFDWLRQGHVLJQDWXUHpOHFWURQLTXHFRQWHQXHVGDQVOHFHUWLILFDW
±LQIRUPHU SDU pFULW OD SHUVRQQH GHPDQGDQW OD
GpOLYUDQFHG¶XQFHUWLILFDWpOHFWURQLTXHSUpDODEOHPHQWj
ODFRQFOXVLRQG¶XQFRQWUDWGHSUHVWDWLRQGHVHUYLFHVGH
FHUWLILFDWLRQpOHFWURQLTXH
D GHVPRGDOLWpVHWGHVFRQGLWLRQVG¶XWLOLVDWLRQGXFHUWLILFDW
E GHVPRGDOLWpVGHFRQWHVWDWLRQHWGHUqJOHPHQWGHVOLWLJHV
±IRXUQLUDX[SHUVRQQHVTXLVHIRQGHQWVXUXQFHUWLILFDW
pOHFWURQLTXH OHV pOpPHQWV GH O¶LQIRUPDWLRQ SUpYXH DX
SRLQWSUpFpGHQWTXLOHXUVRQWXWLOHV
±LQIRUPHU OHV WLWXODLUHV GX FHUWLILFDW VpFXULVp DX PRLQV
VRL[DQWH MRXUV DYDQW OD GDWH G¶H[SLUDWLRQ GH OD
YDOLGLWp GH OHXU FHUWLILFDW GH O¶pFKpDQFH GH FHOXLFL HW
OHVLQYLWHUjOHUHQRXYHOHURXjGHPDQGHUVDUpYRFDWLRQ
±VRXVFULUHXQHDVVXUDQFHDILQGHFRXYULUOHVGRPPDJHV
UpVXOWDQWGHOHXUVIDXWHVSURIHVVLRQQHOOHV
±UpYRTXHUXQFHUWLILFDWpOHFWURQLTXHORUVTXH
D LO V¶DYqUH TX¶LO D pWp GpOLYUp VXU OD EDVH G¶LQIRUPDWLRQV
HUURQpHVRXIDOVLILpHVTXHOHVLQIRUPDWLRQVFRQWHQXHVGDQVOHGLW
FHUWLILFDW QH VRQW SOXV FRQIRUPHV j OD UpDOLWp RX TXH OD
FRQILGHQWLDOLWpGHVGRQQpHVDIIpUHQWHVjODFUpDWLRQGHVLJQDWXUHD
pWpYLROpH
E OHV DXWRULWpV MXGLFLDLUHV OXL HQMRLJQHQW G¶LQIRUPHU
LPPpGLDWHPHQWOHVWLWXODLUHVGHVFHUWLILFDWVVpFXULVpVGpOLYUpVSDU
OXL GH OHXU QRQ FRQIRUPLWp DX[ GLVSRVLWLRQV GH OD SUpVHQWH ORL HW
GHVWH[WHVSULVSRXUVRQDSSOLFDWLRQ
$UWLFOH
3DUGpURJDWLRQDX[GLVSRVLWLRQVGHVDUWLFOHVHWFLGHVVXV
±OHVFHUWLILFDWVGpOLYUpVSDUXQSUHVWDWDLUHGHVHUYLFHVGH
FHUWLILFDWLRQ pOHFWURQLTXH pWDEOL GDQV XQ SD\V pWUDQJHU RQW OD
PrPH YDOHXU MXULGLTXH TXH FHX[ GpOLYUpV SDU XQ SUHVWDWDLUH GH
FHUWLILFDWLRQ pOHFWURQLTXH pWDEOL DX 0DURF VL OH FHUWLILFDW RX OH
SUHVWDWDLUH GH VHUYLFH GH FHUWLILFDWLRQ HVW UHFRQQX GDQV OH FDGUH
G¶XQ DFFRUG PXOWLODWpUDO DXTXHO OH 0DURF HVW SDUWLH RX G¶XQ
DFFRUGELODWpUDOGHUHFRQQDLVVDQFHUpFLSURTXHHQWUHOH0DURFHWOH
SD\VG¶pWDEOLVVHPHQWGXSUHVWDWDLUH
±SHXYHQW rWUH DJUppV OHV SUHVWDWDLUHV GH VHUYLFHV GH
FHUWLILFDWLRQ pOHFWURQLTXH GRQW OH VLqJH VRFLDO HVW pWDEOL j
O¶pWUDQJHU VRXV UpVHUYH TXH O¶(WDW VXU OH WHUULWRLUH GXTXHO LOV
H[HUFHQWOHXUDFWLYLWpDLWFRQFOXDYHFOH5R\DXPHGX0DURFXQH
FRQYHQWLRQ GH UHFRQQDLVVDQFH UpFLSURTXH GHV SUHVWDWDLUHV GH
VHUYLFHVGHFHUWLILFDWLRQpOHFWURQLTXH