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Article L612-42 of the French Monetary and Financial Code

I. – Financial penalties imposed pursuant to this section may be subject to a surcharge of up to 10% of their amount, payable by the person sanctioned and intended to finance victim support. Article L. 612-40 X applies to this increase and the reasons it gives are used to determine the amount. The penalties and periodic penalty payments provided for in this section are recovered by the Treasury and paid…

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Article L612-43 of the French Monetary and Financial Code

The Autorité de contrôle prudentiel et de résolution may, when the situation so warrants and under conditions laid down by decree, appoint an additional auditor to the undertakings mentioned in A of I of Article L. 612-2, other than the bodies mentioned in 3° and carrying out activities of a hybrid nature, 4° bis, 5°, 6°, 7°, 8° and carrying out activities of a hybrid nature, 11° and 12°, and…

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Article L612-44 of the French Monetary and Financial Code

I. – The Autorité de contrôle prudentiel et de résolution may ask the statutory auditors of persons subject to its supervision for any information on the business and financial situation of the entity that they audit and on the due diligence that they have performed there in the course of their engagement. The Autorité de contrôle prudentiel et de résolution may also provide the statutory auditors of the persons mentioned…

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Article L612-45 of the French Monetary and Financial Code

When the Autorité de contrôle prudentiel et de résolution becomes aware of misconduct or failure to comply with the legislative or regulatory provisions applicable to statutory auditors committed by a statutory auditor of a person subject to its supervision, it may ask the competent court to remove the statutory auditor from office in accordance with the procedures set out inArticle L. 823-7 of the Commercial Code. The Chairman of the…

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Article L612-46 of the French Monetary and Financial Code

The guarantee funds referred to in Articles L. 312-4, L. 313-50 and L. 322-2 of this Code, L. 421-1 and L. 423-1 of the French Insurance Code, L. 431-1 of the French Mutual Code and L. 931-35 of the French Social Security Code are consulted by the Autorité de contrôle prudentiel et de résolution on decisions to authorise persons falling within their scope. The guarantee funds referred to in Articles…

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Article L612-47 of the French Monetary and Financial Code

The Autorité de contrôle prudentiel et de résolution and the Autorité des marchés financiers shall set up a joint centre responsible for 1° coordinating the proposals for supervisory priorities defined by the two authorities with regard to compliance with obligations towards their customers by persons subject to their supervision concerning banking or insurance transactions and investment or payment services and any other savings products they offer ; 2° Analysing the…

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Article L612-48 of the French Monetary and Financial Code

I. – The coordinator of the division is appointed jointly by the Secretaries General of the Autorité de contrôle prudentiel et de résolution and the Autorité des marchés financiers. Under their joint authority, he is responsible for implementing the missions mentioned in Article L. 612-47. II. – The authorities shall make available to the coordinator and to persons working in the context of the missions coordinated by the centre all…

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Article L612-49 of the French Monetary and Financial Code

The Autorité de contrôle prudentiel et de résolution and the Autorité des marchés financiers shall define the operating procedures of the joint centre by agreement. They shall determine, by agreement with the Banque de France, the conditions under which they may use the services of the Banque de France in the context of their duties to supervise relations between the regulated professions and their customers.

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Article L613-20-1 of the French Monetary and Financial Code

I. – Subject to the provisions of Article L. 517-12, the Autorité de contrôle prudentiel et de résolution shall exercise supervision on a consolidated basis of a group within the meaning of Articles L. 511-41-2 and L. 533-4-1 or, where applicable, supervision of compliance with the group capitalisation test referred to in Article 8 of Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019…

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