Title VII: Criminal provisions

Without prejudice to the provisions of articles L. 525-5 and L. 525-6, failure to comply with the prohibition imposed by article L. 525-3 is punishable by three years’ imprisonment and a fine of €375,000.

Natural persons guilty of the offence referred to in article L. 572-13 shall also be liable to the following additional penalties: 1° A ban on civic, civil and family rights, in accordance with the provisions of article 131-26 of the Criminal Code ; 2° Disqualification from holding a public office or from engaging in the professional or social activity in the exercise or on the occasion of which the offence…

Legal entities found to be criminally liable, under the conditions set out in Article 121-2 of the French Criminal Code, for the offence provided for in Article L. 572-13 of this Code are liable to : 1° A fine, in accordance with article 131-38 of the French Penal Code ; 2° The additional penalties mentioned in article 131-39 of the same code. The ban referred to in 2° of the…

Failure to comply with any of the prohibitions set out in article L. 525-7 is punishable by three years’ imprisonment and a fine of €375,000. The court may also order the posting or broadcasting of the decision handed down, under the conditions set out in article 131-39 of the French Penal Code.

Failure by the persons referred to in article L. 526-35 of this Code to observe professional secrecy is punishable by the penalties set out in article 226-13 of the French Criminal Code.

Failure by the directors of an electronic money institution to respond, after formal notice, to requests for information from the Autorité de contrôle prudentiel et de résolution, obstructing it in any way whatsoever in the performance of its supervisory duties or providing it with inaccurate information is punishable by one year’s imprisonment and a fine of €15,000.

Failure by the directors of an electronic money institution to draw up an inventory for each financial year, prepare annual accounts and a management report, in accordance with the conditions set out in article L. 526-36, is punishable by a fine of €15,000.

Failure by the directors of an electronic money institution to request the appointment of the institution’s auditors or to convene them to any general meeting is punishable by two years’ imprisonment and a fine of €30,000. Any manager of an electronic money institution or any person in the service of the institution who obstructs the statutory auditors’ inspections or controls or refuses to provide them with all documents required for…

Failure by the directors of an electronic money institution to prepare accounts in consolidated form, pursuant to article L. 526-37, is punishable by a fine of €15,000.

Failure by the directors of an electronic money institution to publish the annual financial statements in accordance with the conditions set out in article L. 526-38 is punishable by a fine of €15,000.