Article L533-28 of the French Monetary and Financial Code
November 7, 2023
A decree of the Conseil d’Etat shall specify the conditions of application of this sub-section.
A decree of the Conseil d’Etat shall specify the conditions of application of this sub-section.
Investment firms shall have: 1° Sound governance arrangements including, in particular, a clear organisation ensuring a well-defined, transparent and consistent division of responsibilities, effective procedures for identifying, managing, monitoring and reporting the risks to which they are or may be exposed, or the risks that they impose or may impose on others; 2° Adequate internal control arrangements, including sound administrative and accounting procedures; 3° Remuneration policies and practices enabling sound…
I.-Investment firms shall have robust strategies, policies, processes and systems in place to identify, measure, manage and monitor the following: 1° The significant causes and effects of risks to clients and any significant impact on own funds; 2° The significant causes and effects of risks to the market and any significant impact on own funds; 3° The significant causes and effects of risks to the investment firm, in particular those…
The board of directors, the supervisory board or any other body exercising equivalent supervisory functions and the persons referred to in Article L. 532-2(4) must devote sufficient time to carrying out the duties referred to in Article L. 533-29-1 and must allocate sufficient resources to managing all the significant risks to which the investment firm is exposed.
I.-Investment firms and investment holding companies with a branch or subsidiary that is a financial institution within the meaning of Article 4(1), point 26 of Regulation (EU) No 575/2013 in a Member State or in a third country other than the one in which they have been granted authorisation shall publish once a year, in the notes to their annual accounts or, where applicable, to their consolidated annual accounts or…
A decree in the Conseil d’Etat shall lay down the conditions for the application of this sub-section.
The remuneration policy of investment firms applies to categories of staff, in particular the persons mentioned in Article L. 533-25, risk-takers and any employee receiving total remuneration at least equal to the lowest remuneration received by the person mentioned in 1° or 2° of Article L. 533-25 or the risk-takers, whose professional activities have a significant impact on the risk profile of the investment firm or the assets it manages….
The board of directors, the supervisory board or any other body exercising equivalent supervisory functions adopts and regularly reviews the remuneration policy and assumes overall responsibility for supervising its implementation. In the case of a branch of a third-country undertaking mentioned in Article L. 532-48 and where the third-country undertaking is an investment firm, the persons mentioned in 4° of II of Article L. 532-48 transmit to the body of…
The implementation of the remuneration policy is subject, at least once a year, to a central and independent internal assessment in the exercise of supervisory functions. In the branches of third-country undertakings referred to in Article L. 532-48 and where the third-country undertaking is an investment firm, the implementation of the remuneration policy is subject, at least once a year, to a central and independent internal assessment in the exercise…
Staff performing control functions are independent of the business units they supervise, have the necessary authority and are remunerated on the basis of the achievement of objectives related to their duties, independently of the performance of the business areas they control.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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