Subsection 5: Penalties

When the Board decides to initiate sanction proceedings, the statement of objections is sent to the respondent by registered letter with acknowledgement of receipt, by hand delivery against a receipt or by bailiff’s deed, or by any other means that ensures the date of receipt, together with the investigation or inspection report or the request made by the Chairman of the Autorité de contrôle prudentiel et de résolution. The statement…

I. – The chairman of the Enforcement Committee assigns the case either to the Enforcement Committee or to one of its sections. He appoints the rapporteur. The rapporteur will take all necessary steps. The rapporteur may call on the services of the Autorité des marchés financiers. The accused person and the member of the college mentioned in the third paragraph of I of Article L. 621-15 or his representative appointed…

A member of the Enforcement Committee who, without prejudice to the cases provided for in Article 12 of the aforementioned Act of 20 January 2017, assumes that he or she is a ground for disqualification or who conscientiously considers that he or she should abstain shall not sit on the Enforcement Committee. When the committee meets as a section, the member is replaced under the conditions laid down in Article…

A respondent who wishes to challenge a member of the Committee must, on pain of inadmissibility, make the request: 1° In the case of the rapporteur, within one month of notification of the decision appointing him/her; 2° In the case of a member of the panel called upon to deliberate, within fifteen days of notification of the composition of the panel; 3° If the reason given could not be made…

A challenge may be requested by the person against whom the complaint has been lodged or by his representative.

The request for recusal shall be made by a document delivered to the secretariat of the Commission, which shall issue a receipt, or by a statement recorded by the secretariat in the minutes. It must, on pain of inadmissibility, state precisely the reasons for the challenge and be accompanied by the appropriate supporting documents.

The committee secretariat will send a copy of the request for recusal to the member who is the subject of the recusal.

As soon as he has been notified of the request, the challenged member shall abstain until the request has been decided.

Within eight days of this communication, the challenged member shall make known in writing either his agreement to the challenge or the reasons why he opposes it.

If the challenged member agrees to the challenge, he/she is replaced as described in article R. 621-39-1. The person making the request is notified by any means of the date on which it will be examined and of the opportunity he or she will have to make oral observations. The Committee shall take its decision without the participation of the member whose challenge is requested; if he is not the…