Article R613-39 of the French Monetary and Financial Code
When, pursuant to I of Article L. 613-33-3 , the Autorité de contrôle prudentiel et de résolution initiates disciplinary proceedings against an electronic money institution referred to in I of Article L. 526-24 acting under the freedom of establishment, it shall send the competent authorities of the home State the letter referred to in Article R. 612-36. It shall also send these authorities any observations in response sent by the…