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Article R612-50-1 of the French Monetary and Financial Code

For the purposes of XII of Article L. 612-40 and subject to the second paragraph below, the Enforcement Committee’s decisions are published for at least five years in the AMF’s official register, which is accessible electronically. The type and nature of the infringement and the identity of the natural or legal person on whom the sanction has been imposed are mentioned. Personal data is kept on the AMF’s official website…

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Article R612-51 of the French Monetary and Financial Code

Where service is effected under this section by a bailiff, he shall proceed in accordance with the procedures laid down in Articles 555 to 563 of the Code of Criminal Procedure. The remuneration of bailiffs acting under this section is set in accordance with articles R. 181 to R. 184 of the Code of Criminal Procedure. The decision to impose a penalty shall mention, where applicable, the procedural costs to…

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Article R612-51-1 of the French Monetary and Financial Code

When, in the cases provided for in the eleventh paragraph of Article L. 612-39 and in the last paragraph of B of I of Article L. 612-40 where the Autorité de contrôle prudentiel et de résolution has proposed to the European Central Bank to withdraw the authorisation of a credit institution, the European Central Bank has decided not to withdraw the authorisation, the Autorité shall immediately inform the chairman of…

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Article R612-52 of the French Monetary and Financial Code

When the Commission decides to impose a penalty payment in accordance with the provisions of articles L. 612-39 to L. 612-42, it does so in the same decision. The daily amount may not exceed fifteen thousand euros. In the event of total or partial non-fulfilment or late fulfilment, the Commission shall liquidate the periodic penalty payment that it had ordered. The amount of the penalty payment is calculated taking into…

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Article D612-53 of the French Monetary and Financial Code

Any person referred to in the first paragraph of Article L. 612-43 must inform the Autorité de contrôle prudentiel et de résolution of the name(s) of the statutory auditor(s) it proposes to appoint or reappoint. When it informs the Authority of its intention to appoint a firm of statutory auditors as statutory auditor, it shall specify the name of the individual statutory auditor who is a partner, shareholder or manager…

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Article D612-55 of the French Monetary and Financial Code

Where the Authority intends to issue an unfavourable opinion or a qualified opinion, it shall invite the statutory auditor concerned to comment on the draft opinion within a period of not less than one month. This invitation is sent to the statutory auditor concerned and to the person subject to supervision by the Autorité de contrôle prudentiel et de résolution by letter sent in the manner provided for in Article…

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Article D612-56 of the French Monetary and Financial Code

Reasons are given for an unfavourable opinion or an opinion with reservations. In particular, it may be based on the fact that the proposed statutory auditor, or the natural person who has been approached to perform the assignment, does not offer all the guarantees of experience, competence or independence necessary for the performance of these duties, taking into account the nature and characteristics of the business of the person subject…

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Article D612-57 of the French Monetary and Financial Code

The person concerned and the proposed auditor are notified of the unfavourable opinion or the opinion with reservations by letter sent in the manner provided for in Article R. 612-9 . A copy of this opinion is sent to the regional company of which the statutory auditor is a member. The directors of the person concerned shall forward the Authority’s opinion to the body competent to appoint the statutory auditors.

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