Subsection 1: Directors

I.-In an investment firm, the following persons must at all times be of sufficiently good repute and have the knowledge, skills and experience required to perform their duties: 1° Members of the Board of Directors, the Supervisory Board and the Management Board, the Chief Executive Officer and the Deputy Chief Executive Officers, as well as any other person or member of a body exercising equivalent functions; 2° Persons who effectively…

I. – The persons who effectively manage the business of the firm within the meaning of Article L. 532-2 .4 and the members of the board of directors, the supervisory board, the management board or any other body exercising equivalent functions within an investment firm must devote sufficient time to the performance of their duties. II – Where the investment firm is of significant importance by virtue of its size,…

Investment firms shall devote the necessary human and financial resources to the training of the persons mentioned in I of Article L. 533-26.

Investment firms shall ensure that all loans granted to members of the board of directors, the supervisory board or any other body exercising equivalent supervisory functions or to their related parties are appropriately documented and made available to the Autorité de contrôle prudentiel et de résolution upon request. For the purposes of the previous paragraph, a related party may be : 1° A spouse, a partner linked by a civil…

A decree of the Conseil d’Etat shall specify the conditions of application of this sub-section.