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Article R613-73-1 of the French Monetary and Financial Code

I.-When a person finds itself in the situation referred to in III of Article L. 613-56, the resolution college, after obtaining the opinion of the supervisory college, shall examine without delay whether it is appropriate to exercise the power referred to in that paragraph to prohibit or limit certain distributions, taking into consideration all of the following elements: 1° The reason, duration and extent of the lack of compliance, as…

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Article R613-74 of the French Monetary and Financial Code

For the application of Article L. 613-57, the resolution board shall submit a request to the Chief Justice of the Cour de cassation for the appointment of an expert to carry out the assessments provided for in 1° and 2° of II of this Article. These assessments are carried out by the expert on the date on which the decision was taken to subject the person concerned to a measure…

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Article R613-75 of the French Monetary and Financial Code

I. – In exercising their powers, the supervisory board and the resolution board shall assess the potential effects of disclosure of information relating to the entity concerned or to the resolution procedure. In particular, they shall assess the potential effects of disclosing the information contained in the preventive recovery plans referred to in Article L. 613-35 and the preventive resolution plans referred to in Article L. 613-38 as well as…

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Article R613-76 of the French Monetary and Financial Code

The cooperation agreements entered into pursuant to Article L. 632-13-1 with the competent supervisory authorities and the resolution authorities shall be authorised by the college of supervisors or the college of resolution, depending on their respective powers and the content of these agreements. These agreements are notified to the European Banking Authority.

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Article R613-77 of the French Monetary and Financial Code

Where the procedures for transmitting information to the persons mentioned in 7° of III of Article L. 613-49 do not guarantee an appropriate level of confidentiality, the supervisory board or the resolution board shall establish communication procedures ensuring the required level of confidentiality.

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Article R613-79 of the French Monetary and Financial Code

For the application of Article L. 613-59, the College of Resolution shall determine the operating procedures of the college of resolution authorities provided for in that Article. In this respect, the College of Resolution : 1° Establishes, after consulting the other members, the written terms and procedures for the operation of the college of resolution authorities; 2° Chairs the meetings of the college of resolution authorities and coordinates all its…

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Article D614-1 of the French Monetary and Financial Code

I.-The Financial Sector Consultative Committee comprises thirty-two members and their alternates appointed by order of the Minister for the Economy: 1° One Member of Parliament, appointed by the President of the National Assembly ; 2° One Senator, appointed by the President of the Senate; 3° Eleven representatives of credit institutions, finance companies, electronic money and payment institutions, investment firms, portfolio management companies, insurance companies, general agents, insurance brokers and intermediaries…

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Article D614-2 of the French Monetary and Financial Code

I. – The Advisory Committee on Financial Legislation and Regulation is chaired by the Minister for the Economy or his representative. The Committee comprises seventeen other members: 1° A Member of Parliament, appointed by the President of the National Assembly ; 2° A Senator, appointed by the President of the Senate; 3° A serving member of the Conseil d’Etat, appointed on the recommendation of the Vice-President of the Conseil d’Etat;…

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Article D614-3 of the French Monetary and Financial Code

I. – The functions of member of the Financial Sector Advisory Committee and member of the Advisory Committee on Financial Legislation and Regulation are free of charge. II. – The Banque de France provides the General Secretariats of the Advisory Committees with the staff and resources they need to carry out their duties. III. – Representatives of the Parliamentary Assemblies shall sit on the Advisory Committees until the renewal of…

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