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Article L514-2 of the French Insurance Code

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…

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Article L514-4 of the French Insurance Code

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…

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Article L515-1 of the French Insurance Code

I.-Any insurance or reinsurance intermediary or any insurance intermediary on an ancillary basis registered in France who intends to carry on business for the first time in another Member State under the freedom to provide services regime shall send the following information to the body that keeps the register referred to in I of Article L. 512-1: 1° His name, address and registration number; 2° The Member State or Member…

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Article L515-2 of the French Insurance Code

I.-If the Autorité de contrôle prudentiel et de résolution ascertains that an insurance or reinsurance intermediary or an insurance intermediary on an ancillary basis carrying on business in France under the freedom to provide services is in breach of any of the obligations laid down in Books I and V, it shall communicate this information to the competent authority of the home Member State. If, despite the measures taken by…

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Article L515-3 of the French Insurance Code

I.-Any insurance or reinsurance intermediary or any insurance intermediary on an ancillary basis registered in France who intends to establish a branch or a permanent presence on the territory of another Member State under the freedom of establishment regime shall inform the body that keeps the register mentioned in I of article L. 512-1 and provides it with the following information: 1° His name, address and registration number; 2° The…

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Article L515-4 of the French Insurance Code

I.- When the Autorité de contrôle prudentiel et de résolution finds that an insurance or reinsurance intermediary or an insurance intermediary acting on an ancillary basis is in breach of the provisions of Chapters V and VI of this Title, Title II of this Book and Articles L. 112-2, L. 112-2-1 and L. 112-11, it may take appropriate measures to put an end to the breaches found. II.-If the Autorité…

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Article L515-5 of the French Insurance Code

I.-If the principal place of business of an insurance or reinsurance intermediary or an insurance intermediary on an ancillary basis registered in another Member State and carrying on business or likely to carry on business in France is located on French territory, the Autorité de contrôle prudentiel et de résolution may agree with the competent authority of the intermediary’s home Member State to act in relation to the intermediary as…

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Article L515-6 of the French Insurance Code

The Autorité de contrôle prudentiel et de résolution or the body that keeps the register referred to in I of Article L. 512-1 may take appropriate and non-discriminatory measures to penalise irregularities committed in France in breach of national legislation, provided that these measures are absolutely necessary. These measures may go so far as to prevent the insurance or reinsurance intermediary or the incidental insurance intermediary concerned from distributing new…

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Article L516-1 of the French Insurance Code

I.-Insurance undertakings, as well as intermediaries when designing insurance products, shall develop, apply and update in accordance with Commission Delegated Regulation (EU) 2017/2358 of 21 September 2017, a validation process for each insurance product, or significant adaptations to an existing insurance product, prior to its marketing or distribution to policyholders or members. This product validation process shall be proportionate and appropriate to the nature of each insurance product. It defines…

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