Subsection 5: Investment holding companies

Within investment holding companies, the persons referred to in 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 must at all times be of sufficiently good repute and have the experience, knowledge and skills required to perform their duties.

Where the parent undertaking of an investment firm is a mixed-activity holding company, the Autorité de contrôle prudentiel et de résolution responsible for the supervision of the investment firm may monitor transactions between the investment firm, the mixed-activity holding company and subsidiaries of the mixed-activity holding company, and require the investment firm to implement adequate risk management and internal control procedures, including sound reporting and accounting procedures, to identify, measure,…