Chapter III: Obligations of investment services providers

Investment service providers other than asset management companies shall have sound administrative procedures, internal control mechanisms, effective risk assessment techniques, effective control and safeguard arrangements for their IT systems and risk mitigation techniques for OTC derivative contracts not cleared by a central counterparty compliant with Article 11 of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and…

Class 1 bis investment firms are subject to the provisions of articles L. 511-41 to L. 511-50-1, with the exception of I of article L. 511-45, and are not subject to the provisions of article L. 533-4.

Class 2 investment firms shall have in place sound, effective and comprehensive arrangements, strategies and processes for assessing and maintaining, on an ongoing basis, the amount, type and distribution of internal capital and liquid assets which they consider appropriate to cover the nature and level of risks which they may impose on other entities and to which they are or may be exposed. The systems, strategies and processes referred to…

The Autorité de contrôle prudentiel et de résolution shall assess and monitor, taking into account the size, risk profile and business model of the investment firm, the systems, strategies and procedures implemented by Class 2 investment firms to comply with Regulation (EU) 2019/2033 and to identify, measure and manage the risks to which they are or may be exposed, as defined in Article L. 533-2-2. The Authority shall also assess…

Investment services providers other than portfolio management companies shall notify the Autorité de contrôle prudentiel et de résolution of significant intra-group transactions in accordance with the conditions set out in Article L. 612-24.

Where the parent undertaking of an investment service provider other than a portfolio management company is a credit institution, an investment firm, a financial holding company, a mixed financial holding company or an investment holding company which has its registered office in a State which is neither a Member State of the European Union nor a party to the Agreement on the European Economic Area, the Autorité de contrôle prudentiel…

Investment firms which have at least one credit institution, investment firm or financial institution within the meaning of Article L. 511-21 as a subsidiary or which have a holding in such an institution or firm are required to comply, on the basis of their consolidated financial position within the meaning of Article 4(1) 47 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June…

I.-The Autorité de contrôle prudentiel et de résolution may decide to apply the requirements of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013, in accordance with point (c) of the first subparagraph of Article 1(2) of Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019, to an investment firm which carries on any of the activities…

I.-The Autorité de contrôle prudentiel et de résolution may require a Class 2 or Class 3 investment firm to take, at an early stage, any measures necessary to address any of the following issues: 1° The investment firm does not meet the requirements of this Title or those of Regulation (EU) 2019/2033; 2° The Authority has evidence that the investment firm is likely to breach the provisions of this Title…