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Article L515-2 of the French Insurance Code

I.-If the Autorité de contrôle prudentiel et de résolution ascertains that an insurance or reinsurance intermediary or an insurance intermediary on an ancillary basis carrying on business in France under the freedom to provide services is in breach of any of the obligations laid down in Books I and V, it shall communicate this information to the competent authority of the home Member State. If, despite the measures taken by…

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Article L515-3 of the French Insurance Code

I.-Any insurance or reinsurance intermediary or any insurance intermediary on an ancillary basis registered in France who intends to establish a branch or a permanent presence on the territory of another Member State under the freedom of establishment regime shall inform the body that keeps the register mentioned in I of article L. 512-1 and provides it with the following information: 1° His name, address and registration number; 2° The…

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Article L515-4 of the French Insurance Code

I.- When the Autorité de contrôle prudentiel et de résolution finds that an insurance or reinsurance intermediary or an insurance intermediary acting on an ancillary basis is in breach of the provisions of Chapters V and VI of this Title, Title II of this Book and Articles L. 112-2, L. 112-2-1 and L. 112-11, it may take appropriate measures to put an end to the breaches found. II.-If the Autorité…

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Article L515-5 of the French Insurance Code

I.-If the principal place of business of an insurance or reinsurance intermediary or an insurance intermediary on an ancillary basis registered in another Member State and carrying on business or likely to carry on business in France is located on French territory, the Autorité de contrôle prudentiel et de résolution may agree with the competent authority of the intermediary’s home Member State to act in relation to the intermediary as…

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Article L515-6 of the French Insurance Code

The Autorité de contrôle prudentiel et de résolution or the body that keeps the register referred to in I of Article L. 512-1 may take appropriate and non-discriminatory measures to penalise irregularities committed in France in breach of national legislation, provided that these measures are absolutely necessary. These measures may go so far as to prevent the insurance or reinsurance intermediary or the incidental insurance intermediary concerned from distributing new…

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Article L516-1 of the French Insurance Code

I.-Insurance undertakings, as well as intermediaries when designing insurance products, shall develop, apply and update in accordance with Commission Delegated Regulation (EU) 2017/2358 of 21 September 2017, a validation process for each insurance product, or significant adaptations to an existing insurance product, prior to its marketing or distribution to policyholders or members. This product validation process shall be proportionate and appropriate to the nature of each insurance product. It defines…

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Article L521-1 of the French Insurance Code

I.-The distributors of insurance products shall act honestly, impartially and professionally in the best interests of the policyholder or member. II.-Without prejudice to the provisions of articles L. 121-1 to L. 121-5 of the French Consumer Code, all information, including advertising communications, sent by the distributor of insurance products to a potential policyholder or member must be clear, accurate and not misleading. Advertising communications must be clearly identifiable as such….

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Article L521-2 of the French Insurance Code

I.-Prior to the conclusion of an insurance contract, insurance intermediaries shall provide prospective policyholders or members with information relating to their identity, address, registration, complaints procedures and recourse to a mediation process, as well as, where applicable, the existence of financial links with one or more insurance undertakings. It shall also inform the client whether it provides a recommendation service for the insurance contracts it distributes. II. -Before concluding an…

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Article L521-3 of the French Insurance Code

When distributing an insurance contract, and prior to the conclusion of the contract, the insurance undertaking shall provide the prospective policyholder or member with information relating to its identity, address, status as an insurance undertaking, complaints procedures and recourse to a mediation process. It also informs the prospective policyholder or member of the nature of the remuneration received by its staff for distributing the contract. The policyholder or subscriber is…

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