Article L526-37 of the French Monetary and Financial Code
When preparing their accounts in consolidated form, electronic money institutions shall apply the rules defined by regulation of the Autorité des normes comptables (French Accounting Standards Authority), issued after obtaining the opinion of the Comité consultatif de la législation et de la réglementation financières (Advisory Committee on Financial Legislation and Regulation). They are exempt from complying with these rules when they use the international accounting standards adopted by Regulation (EC)…