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Article R385-15 of the French Insurance Code

Where supplementary occupational pension funds use references to credit ratings issued by credit rating agencies within the meaning of Article 3(1)(b) of Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, the Autorité de contrôle prudentiel et de résolution, taking into account the nature, scale and complexity of such transactions, shall monitor the adequacy of the credit assessment processes…

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