Subsection 2: Provisions relating to investment firms

I. – Before granting authorisation as an investment firm to an applicant that is a direct or indirect subsidiary of an insurance company, reinsurance company, credit institution, investment firm or portfolio management company headquartered in a country other than France, the Autorité de contrôle prudentiel et de résolution may, on its own initiative or at the request of the Autorité des marchés financiers, ask the authority responsible for authorising this…

When assessing the acquisition or extension of a direct or indirect qualifying holding in the capital of an investment firm referred to in I of Article L. 531-6, the Autorité de contrôle prudentiel et de résolution shall assess the suitability of the proposed acquirer and the financial soundness of the proposed acquisition, applying all of the following criteria, in order to ensure that the investment firm targeted by the proposed…

To obtain the authorisation referred to in I ofArticle L. 531-6, the applicant shall send the Autorité de contrôle prudentiel et de résolution its application together with a file containing the information provided for in the European Commission’s delegated regulation adopted pursuant to Article 12(8) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014.

The Autorité de contrôle prudentiel et de résolution may oppose the proposed acquisition only if there are reasonable grounds for doing so based solely on the criteria set out in Article R. 532-8-1, or if the information provided by the proposed acquirer pursuant to Article R. 532-8-2 is incomplete.