Book V: Service providers

Where the Autorité de contrôle prudentiel et de résolution has determined that the conditions set out in Article L. 517-13 are not fulfilled or have ceased to be fulfilled in order to ensure or restore, depending on the situation, the continuity and integrity of supervision on a consolidated basis, as well as to ensure compliance with the requirements set out in a provision of Titles I and III of Book…

When the Autorité de contrôle prudentiel et de résolution has established that the conditions set out in Article L. 517-14 are no longer met, the financial holding company, the parent undertaking of a finance company or the mixed financial holding company shall apply for approval in accordance with Article L. 517-12.

In the case of mixed financial holding companies, decisions regarding approval and exemption from approval and the supervisory measures referred to in Article L. 612-33 are subject to the agreement of the coordinator designated in Article L. 633-2. Refusal decisions are sent to the European Banking Authority or the European Insurance and Occupational Pensions Authority as appropriate.

When the Autorité de contrôle prudentiel et de résolution refuses to approve a financial holding company, a parent undertaking of a finance company or a mixed financial holding company, it may attach to its decision one of the measures provided for in Article L. 517-16.

A decree in the Conseil d’Etat will specify the information that must be provided to the Autorité de contrôle prudentiel et de résolution so that it can decide on an application for approval, as well as the deadlines for making its decision and notifying a refusal.