Chapter VI: Electronic money institutions

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 direction or management of an electronic money institution or who is employed by an electronic money 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…

Article L. 232-1 of the French Commercial Code is applicable to electronic money institutions under conditions set by the Autorité des normes comptables (French accounting standards authority), after consulting the Comité consultatif de la législation et de la réglementation financières (consultative committee for financial legislation and regulation).

When preparing their accounts in consolidated form, electronic money institutions shall apply the rules defined by regulation of the Autorité des normes comptables (French Accounting Standards Authority), issued after obtaining the opinion of the Comité consultatif de la législation et de la réglementation financières (Advisory Committee on Financial Legislation and Regulation). They are exempt from complying with these rules when they use the international accounting standards adopted by Regulation (EC)…

All electronic money institutions shall publish their annual accounts in accordance with the conditions laid down by the Autorité des normes comptables after obtaining the opinion of the Comité consultatif de la législation et de la réglementation financières. The Autorité de contrôle prudentiel et de résolution shall ensure that the publications provided for in the first paragraph are made on a regular basis. It may order the electronic money institution…

Electronic money institutions are bound by the obligations of articles L. 511-38 and L. 511-39.

Where they carry out other activities pursuant to Article L. 526-3, electronic money institutions shall prepare separate accounting information relating to the activities of issuing and managing electronic money and to related operational services or services closely linked to the issuing and management of electronic money mentioned in Article L. 526-2, in accordance with the rules defined by regulation of the Autorité des normes comptables (French Accounting Standards Authority), adopted…