Section 5: Exercise of control

The Secretary General of the Autorité de contrôle prudentiel et de résolution organises off-site and on-site inspections. The Autorité de contrôle prudentiel et de résolution shall carry out inspections relating to the provisions of the Consumer Code without prejudice to the powers granted to the agents mentioned in Articles L. 511-3 and L. 511-21 of the Consumer Code, under the conditions set out in Book V of the same Code….

I. – The persons referred to in 1°, a of 2°, 4°, 9° and 10° of A of I of Article L. 612-2 shall notify the Autorité de contrôle prudentiel et de résolution of the appointment and reappointment of the managers referred to in Articles L. 511-13 and L. 532-2, within a period set by decree in the Conseil d’Etat. The persons mentioned in 1°, a of 2° and 9°…

The Autorité de contrôle prudentiel et de résolution shall determine the list, model, frequency and deadlines for the transmission of documents and information that must be submitted to it periodically. The Secretary General of the Autorité de contrôle prudentiel et de résolution may also ask persons subject to its supervision for any information, documents, regardless of the medium, and obtain copies thereof, as well as any clarifications or justifications necessary…

In the event of failure to comply with an obligation to notify, declare or transmit statements, documents, data or hearings requested by the Secretary General or one of the panels of the Autorité, the Autorité de contrôle prudentiel et de résolution may issue an injunction accompanied by a penalty payment, the amount and effective date of which it shall determine. The penalty shall be recovered by the public accountant and…

The Secretary General of the Autorité de contrôle prudentiel et de résolution may decide to extend the on-site supervision of a person subject to its supervision: 1° To its subsidiaries ; 2° To legal entities that directly or indirectly control it within the meaning ofArticle L. 233-3 of the Commercial Code; 3° Subsidiaries of these legal entities; 4° Any other company or legal entity belonging to the same group; 5°…

In the event of an on-site audit, a report is drawn up. The draft report is brought to the attention of the management of the audited entity, who may make comments, which are included in the final report. In the event of an emergency or where it is otherwise necessary to take immediate action to establish facts or conduct likely to constitute a breach of the provisions applicable to the…

When facts are brought to light that may justify criminal prosecution, the Chairman of the Autorité de contrôle prudentiel et de résolution or the European Central Bank shall inform the public prosecutor with territorial jurisdiction, without prejudice to any penalties that the Autorité de contrôle prudentiel et de résolution may impose.

When practices are identified that may justify prosecution under Articles L. 420-1 and L. 420-2 of the French Commercial Code, the Chairman of the Autorité informs the competent competition authorities.

Where a professional association representing the interests of one or more categories of persons falling within the remit of the Autorité de contrôle prudentiel et de résolution or who may be subject to its supervision draws up a code of conduct in respect of marketing and customer protection intended to specify the rules applicable to its members, the Autorité shall verify its compatibility with the laws and regulations applicable to…