Sub-sections 2, 3 and 4 of this section do not apply to class 3 investment firms. Where a class 2 investment firm finds that it qualifies as a class 3 investment firm, subsections 2, 3 and 4 cease to apply to it at the end of a period of six months from the date on which the conditions for qualification as a class 3 investment firm are met. However, subsections…
By way of derogation from this section, class 1 bis investment firms shall apply the provisions of articles L. 511-51 to L. 511-102.
I.-In an investment firm, the following persons must at all times be of sufficiently good repute and have the knowledge, skills and experience required to perform their duties: 1° Members of the Board of Directors, the Supervisory Board and the Management Board, the Chief Executive Officer and the Deputy Chief Executive Officers, as well as any other person or member of a body exercising equivalent functions; 2° Persons who effectively…
I. – The persons who effectively manage the business of the firm within the meaning of Article L. 532-2 .4 and the members of the board of directors, the supervisory board, the management board or any other body exercising equivalent functions within an investment firm must devote sufficient time to the performance of their duties. II – Where the investment firm is of significant importance by virtue of its size,…
Investment firms shall devote the necessary human and financial resources to the training of the persons mentioned in I of Article L. 533-26.
Investment firms shall ensure that all loans granted to members of the board of directors, the supervisory board or any other body exercising equivalent supervisory functions or to their related parties are appropriately documented and made available to the Autorité de contrôle prudentiel et de résolution upon request. For the purposes of the previous paragraph, a related party may be : 1° A spouse, a partner linked by a civil…
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.
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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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