Chapter I: Regulations

For credit institutions and, where applicable, finance companies, the Minister responsible for the economy shall lay down rules concerning, in particular: 1. The amount of the initial capital of credit institutions and finance companies and the conditions under which direct or indirect holdings may be acquired, extended or transferred in these undertakings as well as in financial institutions, as defined in article L. 511-21, which directly or indirectly hold effective…

The Minister responsible for the economy shall lay down rules for payment institutions, in particular concerning : 1° The amount of capital of payment institutions ; 2° The terms and conditions under which a change in the terms and conditions of the authorisation granted to a payment institution must be subject to prior authorisation by the Autorité de contrôle prudentiel et de résolution, a declaration or a notification, depending on…

The Minister responsible for the economy shall lay down rules for the agents of payment service providers, in particular concerning : 1° Requirements relating to good repute and aptitude ; 2° The registration procedures provided for in Article L. 523-1.

For electronic money institutions, the Minister responsible for the economy shall lay down rules concerning in particular: 1° The amount of capital of electronic money institutions ; 2° The terms and conditions according to which a change in the conditions of the authorisation granted to an electronic money institution must be subject to prior authorisation by the Autorité de contrôle prudentiel et de résolution, a declaration or a notification, depending…

In the event of failure to comply with the instructions issued by the Minister for the application of the provisions of 1 of Article L. 611-1 and without prejudice to the provisions of Article L. 233-14 of the Commercial Code, the public prosecutor, the Autorité de contrôle prudentiel et de résolution or any shareholder may ask the court to suspend the exercise of the voting rights attached to shares in…

After obtaining the opinion of the Autorité des marchés financiers and the Comité consultatif de la législation et de la réglementation financières, and subject to the powers exercised by the Autorité des marchés financiers in respect of portfolio management companies as defined in Article L. 532-9, the Minister responsible for the economy shall adopt the regulations applicable to investment services providers as defined in Article L. 531-1 other than portfolio…

The Minister for the Economy may, after obtaining the opinion of the Consultative Committee for Financial Legislation and Regulation and at the request of one or more representative organisations of financial sector professionals appearing on a list drawn up by the Minister, approve by decree the codes of conduct that they have drawn up for the marketing of financial instruments referred to in Article L. 211-1, banking transactions mentioned in…

The Minister for the Economy shall also specify: 1. The conditions under which investment firms may carry out the transactions mentioned in 2 of article L. 321-2 ; 2. The conditions under which investment firms may carry out the transactions referred to in Article L. 531-5; 3. The conditions under which direct or indirect shareholdings may be acquired, extended or sold in investment firms.

The orders of the Minister responsible for the economy and the regulations of the Autorité des normes comptables may differ according to the legal status of credit institutions, finance companies, electronic money institutions, payment institutions or investment firms, the extent of their networks or the characteristics of their business. They may, where necessary, lay down the conditions for granting individual exemptions on an exceptional and temporary basis.

Orders relating to the following matters are not subject to the opinion of the Comité consultatif de la législation et de la réglementation financières: 1. With regard to mutual or cooperative banks, the definition of the conditions of access to membership and the resulting restrictions on the scope of activity of these establishments; 2. The definition of the powers of savings and provident institutions and municipal credit institutions; 3. The…