Failure by any manager of a payment institution to respond, after formal notice, to requests for information from the Autorité de contrôle prudentiel et de résolution (ACPR), obstructing the ACPR in any way whatsoever in the performance of its supervisory duties or providing inaccurate information shall be punishable by one year’s imprisonment and a fine of €15,000.
Failure by the directors of a payment institution to draw up an inventory for each financial year, prepare annual accounts and a management report in accordance with the conditions set out in II of article L. 522-19 is punishable by a fine of €15,000.
Failure by the directors of a payment institution to request the appointment of the institution’s statutory auditors or to convene them to any general meeting is punishable by two years’ imprisonment and a fine of €30,000. Any manager of a payment institution, or any person in the service of the institution, who obstructs the statutory auditors’ checks or controls or refuses to allow them access to all documents required for…
Failure by the directors of a payment institution to prepare accounts in consolidated form, in accordance with III of article L. 522-19, is punishable by a fine of €15,000.
Failure by the directors of a payment institution to publish the annual accounts in accordance with the conditions set out in IV of article L. 522-19 is punishable by a fine of €15,000.
Without prejudice to the provisions of articles L. 525-5 and L. 525-6, failure to comply with the prohibition imposed by article L. 525-3 is punishable by three years’ imprisonment and a fine of €375,000.
Natural persons guilty of the offence referred to in article L. 572-13 shall also be liable to the following additional penalties: 1° A ban on civic, civil and family rights, in accordance with the provisions of article 131-26 of the Criminal Code ; 2° Disqualification from holding a public office or from engaging in the professional or social activity in the exercise or on the occasion of which the offence…
Legal entities found to be criminally liable, under the conditions set out in Article 121-2 of the French Criminal Code, for the offence provided for in Article L. 572-13 of this Code are liable to : 1° A fine, in accordance with article 131-38 of the French Penal Code ; 2° The additional penalties mentioned in article 131-39 of the same code. The ban referred to in 2° of the…
Failure to comply with any of the prohibitions set out in article L. 525-7 is punishable by three years’ imprisonment and a fine of €375,000. The court may also order the posting or broadcasting of the decision handed down, under the conditions set out in article 131-39 of the French Penal Code.
Failure by the persons referred to in article L. 526-35 of this Code to observe professional secrecy is punishable by the penalties set out in article 226-13 of the French Criminal Code.
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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