Chapter IV: Control of conditions of access to and exercise of distribution activities

Underwriting associations benefiting from an exemption from the rules governing the practice of insurance mediation and which engage in this activity are required to declare their activity and the type of products they offer to the Autorité de contrôle prudentiel et de résolution. They must inform the Autorité of any change in the nature of their business and of any cessation of their business.

Breaches of the provisions of Chapter II of Title I of Book V are punishable by two years’ imprisonment and a fine of €6,000, or by one of these two penalties only.

Presenting contracts with a view to their subscription or having contracts subscribed on behalf of an undertaking subject to supervision by the Autorité de contrôle prudentiel et de résolution, another undertaking mentioned in article L. 310-2 or an undertaking mentioned in article L. 310-1-1 and not authorised to carry out the corresponding operations on the territory of the French Republic is punishable by a fine of 3,000 euros. In the…

I.-When the Autorité de contrôle prudentiel et de résolution becomes aware of information that could hinder the proper performance of the duties of the body responsible for maintaining the register referred to in I of Article L. 512-1, or when it becomes aware of an offence committed by an intermediary that could lead to removal from the register, it shall inform the body responsible for maintaining the register. When the…