The Board of Directors, the Supervisory Board or any other body exercising equivalent supervisory functions and the persons mentioned in article L. 511-13 are required to devote sufficient time to carrying out the duties mentioned in articles L. 511-60 to L. 511-62.
Credit institutions and finance companies shall set up a risk management function that is independent of operational functions and has adequate resources to enable it to carry out its mission. Credit institutions and finance companies shall appoint a head of the risk management function. Where the head of the risk management function is not a person referred to in Article L. 511-13, nor a deputy chief executive officer nor a…
The head of the risk management function may not be removed from office without the prior approval of the Board of Directors, the Supervisory Board or any other body exercising equivalent supervisory functions. The head of the risk management function may, where appropriate, appeal directly to the Board of Directors, the Supervisory Board or any other body exercising equivalent supervisory functions.
If necessary, in the event of changes in the risks affecting or likely to affect the credit institution or finance company, the head of the risk management function may report directly to the Board of Directors, the Supervisory Board or any other body exercising equivalent supervisory functions, without referring to the persons mentioned in Article L. 511-13.
The Board of Directors, the Supervisory Board or any other body exercising equivalent supervisory functions shall determine the guidelines and monitor the implementation by the persons referred to in Article L. 511-13 of supervisory arrangements to ensure the efficient and prudent management of the institution, in particular the separation of functions within the organisation of the credit institution or finance company and the prevention of conflicts of interest. In the…
The persons referred to in Article L. 511-13 shall ensure the integrity of the accounting and financial reporting systems.
The board of directors, the supervisory board or any other body exercising equivalent supervisory functions shall monitor the publication and communication process and the quality and reliability of the information to be published and communicated by the credit institution or finance company.
An order of the Minister for the Economy shall specify the conditions of application of this sub-section.
The overall remuneration policy, including salaries and discretionary pension benefits as defined in Article 4(1)(73) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013, of credit institutions and finance companies shall apply to those categories of staff whose professional activities have a significant impact on the risk profile of the undertaking or group. This policy shall be consistent with the economic strategy,…
The Board of Directors, the Supervisory Board or any other body exercising equivalent supervisory functions shall adopt and regularly review the general principles of the remuneration policy and monitor their implementation. In the case of a branch of a credit institution mentioned in I of Article L. 511-10, the persons mentioned in the second paragraph of Article L. 511-13 shall transmit to the body of the credit institution to which…
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75001, Paris France
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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Paris Bar Registration n° (Toque) C2396
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