Section II: Autorité de contrôle prudentiel et de résolution.

The Autorité de contrôle prudentiel et de résolution carries out its mission under the conditions set out in Chapter II of Title I of Book VI of the Monetary and Financial Code.

The Autorité de contrôle prudentiel et de résolution shall ensure that the constitution and operation of the decision-making and governing bodies of the persons referred to in 1° to 3°, 5° and 9° to 11° of B of I of Article L. 612-2 of the Monetary and Financial Code comply with the provisions governing them.

The Autorité de contrôle prudentiel et de résolution may, at their request, authorise service providers responsible for labelling contracts open to individual subscription and settlements eligible for a contribution from local authorities and their public establishments pursuant to article 88-2 of law no. 84-53 of 26 January 1984 on statutory provisions relating to the local civil service. Authorisation may be withdrawn at the request of the service provider or if…

In periods of extreme instability in the financial markets, the Autorité de contrôle prudentiel et de résolution takes into account the possible pro-cyclical effects of its actions.

The Autorité de contrôle prudentiel et de résolution shall examine and evaluate the strategies, processes and reporting procedures established by the undertakings referred to in Article L. 310-3-1 in order to comply with the provisions of Title V of this Book. This examination and evaluation shall include an assessment of the qualitative requirements relating to the system of governance, an assessment of the risks to which the undertakings concerned are…

After informing the authorities of the host Member State, the Autorité de contrôle prudentiel et de résolution may carry out, itself or through the intermediary of persons it appoints for that purpose, on-site verifications of the information necessary for the financial supervision of branches of French insurance and reinsurance undertakings. If, after having been informed by the Autorité de contrôle prudentiel et de résolution of its intention to carry out…

The Autorité de contrôle prudentiel et de résolution may require the modification or decide the withdrawal of any document which is contrary to legislative and regulatory provisions, with the exception of documents of a contractual or advertising nature for the undertakings mentioned in 1° of III of Article L. 310-1-1 . In such cases, it shall rule in accordance with the conditions laid down inArticle L. 612-35 of the Monetary…

Judicial reorganisation or liquidation proceedings instituted by the aforementioned law no. 85-98 of 25 January 1985 may only be opened in respect of a company mentioned in article L. 310-1 at the request of the Autorité de contrôle prudentiel et de résolution; the court may also initiate proceedings of its own motion or be requested to do so by the public prosecutor after receiving the assent of the Autorité de…

Safeguard, receivership and compulsory liquidation proceedings instituted by Titles II, III and IV of Book VI of the Commercial Code may only be opened in respect of a reinsurance undertaking mentioned in 1° of III of Article L. 310-1-1 after receiving the opinion of the Autorité de Contrôle. The president of the court may only be seised of a request to open the conciliation procedure instituted by Title I of…

In the case of insurance undertakings whose head office is located within the territory of another Member State of the European Union, the Autorité de contrôle prudentiel et de résolution may request information on the conduct of the winding-up proceedings from the supervisory authorities of the home Member State.