The own funds of a payment institution may not fall below any of the requirements set out in Article L. 522-7 and the second paragraph of Article L. 522-14.
The Autorité de contrôle prudentiel et de résolution may make a recommendation or issue an injunction to payment institutions to ensure that they have sufficient capital for payment services, in particular where the payment institution’s non-payment services activities undermine or threaten to undermine the financial health of the payment institution. The Autorité de contrôle prudentiel et de résolution may also issue a recommendation or an injunction to payment institutions carrying…
Any payment institution intending to outsource operational functions of payment services shall inform the Autorité de contrôle prudentiel et de résolution. Important operational functions may not be outsourced in such a way as to seriously undermine the quality of the payment institution’s internal control and to prevent the Autorité de contrôle prudentiel et de résolution from monitoring the institution’s compliance with all the obligations to which it is subject. An…
I. – Funds received either from payment service users or through another payment service provider for the execution of payment transactions shall be protected in accordance with one of the following two methods, this choice being left to the discretion of the payment institution: 1° The funds received shall under no circumstances be confused with the funds of natural or legal persons other than the payment service users on whose…
Payment institutions shall provide their customers, and any other person who so requests, with all relevant information on the procedures for protecting the funds collected. Customers are informed of any changes. This information may not be used for advertising purposes.
I. – Any member of a board of directors or, as the case may be, of a supervisory board and any person who, in any capacity whatsoever, participates in the management or administration of a payment institution or who is employed by a payment institution is bound by professional secrecy. Apart from cases where the law so provides, professional secrecy may not be invoked against the Autorité de contrôle prudentiel…
Where they carry out other activities in accordance with Article L. 522-3, payment institutions shall prepare separate accounting information relating to the payment services activities referred to in II of Article L. 314-1 and the related activities referred to in Article L. 522-2, in accordance with the rules defined by regulation of the Autorité des normes comptables (French Accounting Standards Authority) adopted after obtaining the opinion of the Comité consultatif…
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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