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LexInter | May 4, 2019 | 0 Comments

THIS

Chapter II

Credit institutions committee

and investment firms

MONETARY AND FINANCIAL CODE
(Legislative Part)

Section 1: Missions

Article L612-1

   The Credit Institutions and Investment Firms Committee is responsible for making decisions or granting individual authorizations or exemptions provided for by the laws and regulations applicable to credit institutions and investment firms, with the exception of those coming under the banking commission.

Article L612-2

(Law nº 2003-706 of August 1, 2003 art. 46 III 26º Official Journal of August 2, 2003)
The Credit Institutions and Investment Firms Committee establishes and updates the list of credit institutions as well as the list of investment service providers operating in France, specifying the activity carried out for them. These lists are published in the Official Journal of the French Republic.
The Committee on Credit Institutions and Investment Firms shall communicate the list of investment service providers which provide investment services in other Member States of the European Community under the freedom of establishment or under the freedom to provide services to the competent authorities. of each of these other states.
The Credit Institutions and Investment Firms Committee receives information from the competent authorities of other Member States on investment service providers who provide investment services in France under the freedom of establishment or under the freedom to provide investment services. services in accordance with the provisions of this code.
The Credit Institutions and Investment Firms Committee communicates all of these lists to the Autorité des Marchés Financiers without delay.

MONETARY AND FINANCIAL CODE
(Legislative Part)

Section 2: Composition

Article L612-3

(Law nº 2003-706 of August 1, 2003 art. 23, art. 46 III 27º, V 1º Official Journal of August 2, 2003)
The committee of credit institutions and investment firms is chaired by the governor of the Banque de France, chairman of the banking commission, or his representative on this commission. It also includes the Director of the Treasury or his representative, the chairman of the Autorité des marchés financiers or his representative, the chairman of the management board of the guarantee fund mentioned in Articles L. 312-4 to L. 312-18, or a member of the management board representing him, as well as eight members or their alternates appointed by order of the Minister responsible for the economy for a period of three years, namely: a State Councilor, an advisor to the Court of Cassation, two representatives of
Representatives of trade unions and their substitutes have the time necessary to prepare for, attend and participate in meetings. This time is assimilated to actual work for the determination of rights to social insurance benefits. The employees concerned must inform their employer when they are appointed and, for each meeting, upon receipt of the convocation.

MONETARY AND FINANCIAL CODE
(Legislative Part)Section 3: Operating rules Article L612-4

(Law n ° 2001-420 of May 15, 2001 art. 22 Official Journal of May 16, 2001)
In the event of a tie-vote, the president’s vote is decisive.
In the event of urgency declared by its chairman, the Committee may take a decision by written consultation on a proposal for a decision.
The committee may delegate to its chairman the power to take decisions or to grant individual authorizations or exemptions. However, in matters of authorization, withdrawal of authorization or effective change of control of a subject establishment, the delegation can only be granted for transactions submitted to the committee falling within the scope of the provisions provided for in the last paragraph of l article L. 511-31 and article L. 613-25.
A Council of State decree specifies the conditions of application of this article, in particular the majority and quorum rules which govern the deliberations of the committee and the methods of the written consultation provided for in the second paragraph.
The committee draws up its rules of procedure, which are published in the Official Journal. This text fixes the modalities of instruction and examination of the files presented for the deliberation of the committee, and in particular the conditions under which it can hear any interested person able to clarify its decision.Article L612-5

The Director of the Treasury may request the adjournment of any decision of the committee. In this case, the president calls for a second deliberation in good time. 

Article L612-6

(Law n ° 2001-420 of May 15, 2001 art. 21 Official Journal of May 16, 2001)
(Law nº 2003-706 of August 1, 2003 art. 73 3º Official Journal of August 2, 2003)
(Ordinance n ° 2004-1201 of November 12, 2004 art. 10 Official Journal of November 16, 2004)
Anyone who participates or has participated in the deliberations or activities of the Committee on Credit Institutions and Investment Firms is bound by professional secrecy. This secrecy is not opposable to the judicial authority acting within the framework of either a judicial liquidation procedure opened with regard to a credit institution, an investment firm or a financial company, or criminal proceedings.
This secrecy is not opposable to the administrative courts seized of a dispute relating to the activity of the committee of credit institutions and investment firms.
By way of derogation from the provisions of law n ° 68-678 of July 26, 1968 relating to the communication of documents and information of an economic, commercial, industrial, financial or technical nature to natural or legal persons, the committee of credit institutions and investment firms may transmit information to the authorities responsible, in other States, for the authorization or supervision of credit institutions, investment firms, financial institutions and insurance organizations, subject to reciprocity and on condition that these authorities are themselves subject to professional secrecy with the same guarantees as in France. These authorities, when they are those of a Member State or of another State party to the Agreement on the European Economic Area, are deemed to meet these conditions. The Commission of the European Communities may also be the recipient of this information, within the limit of what is necessary for the performance of the missions entrusted to it, and provided that the recipients are subject to professional secrecy with the same guarantees as in France.
By way of derogation from the legislative and regulatory provisions governing professional secrecy, the Committee of Credit Institutions and Investment Firms may, with the prior consent of the natural or legal person having sent it documents for the examination of the file concerning it, communicate some of the said documents to any interested natural or legal person who requests it.

NOTE: Ordinance 2004-1201 art. 20: “The provisions of this ordinance are applicable, for the first time, to the supervision of the accounts for the financial year beginning on January 1, 2005 or during this year”.
Article L612-6

(Law n ° 2001-420 of May 15, 2001 art. 21 Official Journal of May 16, 2001)
(Law nº 2003-706 of August 1, 2003 art. 73 3º Official Journal of August 2, 2003)
(Ordinance n ° 2004-1201 of November 12, 2004 art. 10 Official Journal of November 16, 2004)
(Ordinance n ° 2007-544 of April 12, 2007 art. 5 Official Journal of April 13, 2007 in force on November 1, 2007)
Anyone who participates or has participated in the deliberations or activities of the Committee on Credit Institutions and Investment Firms is bound by professional secrecy. This secrecy is not opposable to the judicial authority acting within the framework of either a judicial liquidation procedure opened with regard to a credit institution, an investment firm or a financial company, or criminal proceedings.
By way of derogation from the provisions of law n ° 68-678 of July 26, 1968 relating to the communication of documents and information of an economic, commercial, industrial, financial or technical nature to natural or legal persons, the committee of credit institutions and investment firms may transmit information to the authorities responsible, in other States, for the authorization or supervision of credit institutions, investment firms, financial institutions and insurance organizations, subject to reciprocity and on condition that these authorities are themselves subject to professional secrecy with the same guarantees as in France. These authorities, when they are those of a Member State or of another State party to the Agreement on the European Economic Area, are deemed to meet these conditions. The Commission of the European Communities may also be the recipient of this information, within the limit of what is necessary for the performance of the missions entrusted to it, and provided that the recipients are subject to professional secrecy with the same guarantees as in France.
By way of derogation from the legislative and regulatory provisions governing professional secrecy, the Committee of Credit Institutions and Investment Firms may, with the prior consent of the natural or legal person having sent it documents for the examination of the file concerning it, communicate some of the said documents to any interested natural or legal person who requests it.

NOTE: Ordinance 2004-1201 art. 20: “The provisions of this ordinance are applicable, for the first time, to the supervision of the accounts for the financial year beginning on January 1, 2005 or during this year”.

Article L612-7The decisions of the committee of credit institutions and investment firms must be reasoned.

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