Chapter II: The Autorité de contrôle prudentiel et de résolution

Where the Autorité de contrôle prudentiel et de résolution finds that a person subject to its supervision is engaging in practices that are likely to jeopardise the interests of its customers, policyholders, members or beneficiaries, it may, after giving its managers the opportunity to present their explanations, warn the person against continuing such practices insofar as they infringe the rules of good practice of the profession concerned.

The Autorité de contrôle prudentiel et de résolution may give formal notice to any person subject to its supervision to take, within a specified period, any measures intended to bring it into compliance with the obligations which the Autorité de contrôle prudentiel et de résolution is responsible for ensuring are complied with.

The Autorité de contrôle prudentiel et de résolution may require any person subject to its supervision to submit for its approval, within twelve months for Class 2 and Class 3 investment firms, a recovery plan including all appropriate measures to restore or strengthen its financial or liquidity position, improve its management methods or ensure that its organisation is appropriate to its activities or development objectives, in particular where the information…

I. – Where the solvency or liquidity of a person subject to supervision by the Authority or where the interests of its customers, policyholders, members or beneficiaries, are compromised or are likely to be compromised, or where information received or requested by the Authority for the purposes of exercising supervision is such as to establish that that person is likely to fail within a period of twelve months to comply…

Where the activity of a person subject to its supervision is likely to undermine financial stability and in the emergency situations provided for in Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC, the Autorité de contrôle prudentiel et de résolution may decide to limit or…

I. – When the Autorité de contrôle prudentiel et de résolution pronounces the automatic transfer provided for in 14° of I of Article L. 612-33, it has recourse to the Fonds de garantie des assurances obligatoires de dommages, the fonds de garantie des assurés contre la défaillance de sociétés d’assurance de personnes, the fonds de garantie contre la défaillance des mutuelles et des unions pratiquant des opérations d’assurances or the…

I. – The Autorité de contrôle prudentiel et de résolution may appoint a provisional administrator to a person that it supervises, to whom all the powers of administration, management and representation of the legal person are transferred. The provisional administrator disposes of the movable and immovable property of the legal entity in the interests of sound administration. The remuneration of the provisional administrator is set by the Autorité de contrôle…