Title VII: Criminal provisions

Legal entities found to be criminally liable, under the conditions set out in Article 121-2 of the French Criminal Code, for the offences defined in Articles L. 571-3, L. 571-4, L. 571-6 to L. 571-9, L. 571-14 and L. 571-16 incur, in addition to the fine set out in Article 131-38 of the French Criminal Code, the penalties set out in Article 131-39 of the same Code. The prohibition referred…

The judicial authorities responsible for prosecuting offences under Articles L. 571-3 to L. 571-9 and L. 571-14 to L. 571-16 may, at any stage of the proceedings, request the Autorité de contrôle prudentiel et de résolution to provide all relevant opinions and information.

Any person who disregards one of the prohibitions set out in articles L. 511-5 and L. 511-8 is liable to three years’ imprisonment and a fine of 375,000 euros. The court may order the posting or broadcasting of the decision handed down in accordance with the conditions set out in article 131-35 of the French Criminal Code.

The failure of any senior manager of a credit institution, finance company or one of the legal entities or subsidiaries referred to in Articles L. 612-24 and L. 612-26 to respond, after formal notice, to requests for information from the Autorité de contrôle prudentiel et de résolution, to obstruct in any way whatsoever the exercise of its supervisory mission or to provide inaccurate information is punishable by one year’s imprisonment…

The provisions of articles L. 820-5, L. 820-6 and L. 820-7 of the French Commercial Code apply to the statutory auditors of credit institutions, finance companies, investment firms, electronic money institutions, payment institutions and financial holding companies, regardless of their legal form.

Failure by the directors of a credit institution or finance company to draw up an inventory for each financial year, prepare annual financial statements and a management report in accordance with the conditions set out in article L. 511-35 is punishable by a fine of 15,000 euros.

Failure by the directors of a credit institution or finance company to request the appointment of the company’s statutory auditors or to convene them to any general meeting is punishable by two years’ imprisonment and a fine of 30,000 euros. It is punishable by five years’ imprisonment and a fine of 75,000 euros for any manager of a credit institution or finance company, or for any person in the service…

Failure by the directors of a credit institution or finance company to publish the annual financial statements in accordance with the conditions set out in article L. 511-37 is punishable by a fine of 15,000 euros.