Title III: Investment services providers

I. – In order to provide investment services, investment services providers other than portfolio management companies must obtain authorisation. This authorisation is issued by the Autorité de contrôle prudentiel et de résolution. It is not required for the sole purpose of providing one or more of the services mentioned in article L. 321-2. Before authorisation is granted, investment services providers other than portfolio management companies must obtain the approval of…

In order to grant authorisation to an investment firm, the Autorité de contrôle prudentiel et de résolution shall verify that the firm: 1. Has its registered office and effective management in France ; 2. Has, taking into account the nature of the service it wishes to provide, an initial paid-up capital, the minimum amount and composition of which are determined by an order of the Minister responsible for the economy…

I. – Authorisation to provide one or more investment services by a credit institution may be granted to legal entities having their registered office in France or to branches established in France of credit institutions having their registered office in a State which is neither a member of the European Union nor a party to the Agreement on the European Economic Area. To grant this authorisation, the Autorité de contrôle…

Any change in the conditions to which the authorisation granted to an investment service provider other than a portfolio management company providing one or more investment services was subject must be subject to prior authorisation by the Autorité de contrôle prudentiel et de résolution, or to a declaration or notification, as the case may be, under the conditions laid down by an order of the Minister responsible for the economy….

Without prejudice to the provisions of Article L. 229-4 of the Commercial Code, the Autorité de contrôle prudentiel et de résolution also has the power to oppose, in accordance with the provisions of Article 8(14) and Article 19 of Council Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European Company (SE), the transfer of the registered office of an investment firm incorporated as a European…

In granting approval for the programme of operations, the AMF assesses the quality of the programme in the light of the obligations set out in Articles L. 533-25 and L. 533-26, as well as the conditions under which the investment service provider other than a portfolio management company intends to provide the investment services concerned. The programme shall indicate the type of transactions envisaged and the organisational structure of the…