Order Of 23 December 2013 On The Conditions Governing Access To Banking And Financial Activities And Their Exercise

Original Language Title: Arrêté du 23 décembre 2013 relatif aux conditions d'accès aux activités bancaires et financières et à leur exercice

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JORF n ° 0301 December 28, 2013 page 21607 text no. 22 Decree of 23 December 2013 on the conditions governing access to banking and financial activities and their exercise NOR: EFIT1330636A ELI: https://www.legifrance.gouv.fr/eli/arrete/2013/12/23/EFIT1330636A/jo/texte interested Publics: credit institutions, investment firms, finance companies and any entity which may seek a licence as a credit institution investment firm or finance company.
Subject: conditions for access to banking and financial and exercise of these activities.
Entry into force: this order comes into force on January 1, 2014.
Notice: this order is intended to adapt various regulations of the Committee on banking and financial regulation on access to banking and financial activities and their exercise in order to: (i) transpose directive 2013/36/EU of 26 June 2013 regarding access to the activity of institutions of credit and investment firms (CRD IV); (ii) take into account the new status of finance company established by order No. 2013-544 June 27, 2013 concerning credit institutions and finance companies.
References: the provisions of this order can be accessed on the Legifrance (http://www.legifrance.gouv.fr) site.
The Minister of economy and finance, having regard to Regulation (EU) No. 575/2013 of the European Parliament and of the Council of June 26, 2013 on the prudential requirements applicable to the credit institutions and investment companies and amending Regulation (EU) No. 648/2012 as well as corrigenda published in the Official Journal of the EU and on August 2, 2013 November 30, 2013;
Having regard to directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 concerning access to the activity of credit institutions and investment firms, amending directive 2002/87/EC and repealing directives 2006/48/EC and 2006/49/EC;
Having regard to the monetary and financial code, particular articles L. 511-12-1, L. 511-22 at 511-28, L. 611 - 1 and L. 611 - 3 from order No. 2013 - 544 June 27, 2013 on credit institutions and finance companies;
Having regard to the order of September 5, 2007 amended relating to activities other than investment services and related services that can be performed by investment firms other than management of portfolio companies.
Having regard to regulation of the regulatory committee banking No. 86-21 of 24 November 1986 as amended concerning the non-banking activities;
Having regard to regulation of the regulatory committee banking No. 90-06 of 20 June 1990 modified relative to the interests of credit institutions in the capital of undertakings;
Having regard to the rules of the regulatory committee banking No. 92-12 December 23, 1992 as amended concerning the provision of banking services abroad by credit institutions and financial institutions having their head offices in France.
Having regard to regulation of the regulatory committee banking No. 92-13 December 23, 1992 as amended concerning the provision of banking services in France by credit institutions and financial institutions having their head offices in other Member States of the European communities;
Having regard to regulation of the regulatory committee banking No. 92-14 of 23 December 1992 as amended relating to the minimum capital of credit institutions;
Having regard to regulation of the Committee for banking and financial regulation No. 96-15 of 20 December 1996 amended concerning the minimum capital of investment services providers;
Having regard to regulation of the Committee for banking and financial regulation No. 96-16 of 20 December 1996 amended relating to the changes in status of establishments of credit and investment firms other than management of portfolio companies.
Having regard to the opinion of the Advisory Committee of legislation and financial regulations as of December 11, 2013, stop: Article 1 more on this article...

Regulation of the regulatory committee banking No. 86-21 of 24 November 1986 referred to above is amended as follows: 1 ° (A) in article 1: has) the words: "No. 85-16 above" are replaced by the words: "of the regulatory committee banking No. 90-06 of 20 June 1990";
(b) it is added a second paragraph worded as follows: ' finance companies referred to in article L. 511 - 1 of the code monétaire et financier II may, under the conditions defined in this regulation, exercise on a regular basis for activities other than credit transactions as defined in article l 313 - 1 of this code, related transactions to their activity mentioned in II of article L. 311 - 2 of this code or equity participations in the capital of undertakings. held under the conditions laid down in article L. 511 - 2 of the code and the rules of the regulatory committee banking No. 90-06 June 20, 1990. ("2 ° (a) article 2: has) in the first paragraph, after the words: 'A credit institution', shall be inserted the words:"or a finance company.
(b) in paragraph 5, after the words: «of operations of Bank», the words are added: "for which it is approved."
(c) in the sixth preambular paragraph, after the words: 'of the establishment"shall be inserted the words:"credit or finance company"and the words:"applicants"are replaced by the words:"of the customer. "
(d) in the seventh preambular paragraph, after the words: 'The establishment', shall be inserted the words: "credit or finance company.
3 ° it is restored a section 5 worded as follows: «art.» 5. - when, in accordance with article L. 515 - 1 of the monetary and financial code, a willing finance company respectively of a payment institution approval, establishment of electronic money or investment firm, are not subject to the ceiling provided for in the first paragraph of article 3: 1 ° products derived from the provision of payment services as defined in article L. 314 - 1 and referred to in article L related services. 522-2 of this code;
2 ° products from the issuance and management of electronic currency defined in article L. 315 - 1 and the services mentioned in article L. 526 - 2 of this code;
3 ° products derived from the provision of investment services referred to in article L. 321-- 1 and related services mentioned in article L. 321 2 of this code.
By way of derogation from the Decree of 5 September 2007 on activities other than investment services and related services that can be performed by investment firms other than portfolio management companies, where a company's financing has an investment firm approval, the annual amount of all products derived from the activities referred to in article 4 of this order does not exceed the ceiling of 10% of the net banking income provided for in article 3 of this regulation. » ;
4 ° article 6 is repealed.


Article 2 regulation of the regulatory committee banking No. 92-12 December 23, 1992 referred to above is amended as follows: 1 ° (A) in article 1: a) in the first subparagraph, the words: 'European Communities' shall be replaced by the words: 'of the European Union ';
b) takes the penultimate paragraph, the words: "of the first paragraph of this article' shall be deleted;
2 ° a section 2: has) in the first paragraph, after the words: 'referrred to the 1 °', shall be inserted the words: 'of this article ';
(b) the second subparagraph is replaced by the following: "it transmits also the amount and the composition of the own funds of the credit institution, the amount of capital requirements imposed under article 92 of Regulation (EU) No. 575/2013 European Parliament and of the Council of June 26, 2013, as well as, where applicable. clarification on the deposit guarantee system which aims to ensure the protection of the depositors of the branch. » ;
3 ° article 3 is repealed;
4 ° article 4 is supplemented by a paragraph worded as follows: «when the proposed amendment relates to one of the information mentioned in the 2 ° to 4 ° of article 1, the institution shall notify also this amendment the competent authorities of the host Member State a month at least before its realization.»;
5 ° to the last subparagraph of article 5, the words: "is communicated to the prudential and resolution authority" shall be replaced by the words: "it is communicated."
6 ° article 6 is replaced by the following: 'a credit institution that commences or ceases to carry on business through branches in one or more non-Member States of the European Union, with the exception of the Principality of Monaco, shall inform the authority of prudential and resolution.';
7 ° in article 7, the words: 'for the purposes of article 23, paragraphs 2 to 7 of directive 2000/12/EC of 20 March 2000 and in order to' shall be replaced by the word: «order» and the words: 'European Communities' shall be replaced by the words: 'of the European Union ';
8 ° (a) article 8: has) in the first subparagraph, the words: 'the Community' shall be replaced by the words: "the European Union";
(b) it is added a paragraph worded as follows: 'this article shall apply in the same way to any financial institution subsidiaries.';
9 ° a section 9: a) in the second paragraph, the words: "article 2" are replaced by the words: 'in the first and third subparagraphs of article 2 ";
(b) it is added a paragraph worded as follows:

"It transmits also the amount and the composition of the own funds of the financial institution as well as the total risk exposure amounts, calculated in accordance with paragraphs 3 and 4 of article 92 of the Regulation (EU) No. 575/2013 of the European Parliament and the Council of 26 June 2013, the credit institution which is its parent undertaking.";
10 ° to the first paragraph of article 11, the words: 'European Communities' shall be replaced by the words: 'of the European Union ';
11 ° the second paragraph of article 12 is deleted.


Article 3 read more on this article...

The rules of the regulatory committee banking No. 92-13 December 23, 1992 referred to above is amended as follows: 1 ° in the title of the regulation, the words: 'European Communities' shall be replaced by the words: 'of the European Union ';
2 ° a article 1: has) in the first subparagraph, the words: 'European Communities' shall be replaced by the words: 'of the European Union ';
(b) the fifth preambular paragraph (4 °) is replaced by the following: "4 ° the amount and the composition of own funds of the credit institution and the sum of the capital requirements imposed under article 92 of the Regulation (EU) No. 575/2013 of the European Parliament and the Council of June 26, 2013;";
(c) in the seventh preambular paragraph, the words: "of the above-mentioned law No. 84-46 amended" shall be replaced by the words: "of the monetary and financial code.
3 ° to the first paragraph of article 2, the words: 'European Communities' shall be replaced by the words: 'of the European Union ';
4 ° a section 3: has) in the first subparagraph, the words: 'communities' shall be replaced by the words: 'of the European Union ';
(b) the third subparagraph is replaced by the following: "― for the establishment of a branch, provided information to 1 °, 2 °, 3 ° and 5 ° of article 1, the amount and composition of own funds of the financial institution as well as the total amounts of exposure to the risk, calculated in accordance with paragraphs 3 and 4 of article 92 of the Regulation (EU) No. 575/2013 of the European Parliament and of the Council of June 26, 2013. , of the credit institution which is its parent undertaking. » ;
(c) in the fourth paragraph, the words: 'second and third' are replaced by the words: 'seventh and eighth. "
5 ° a section 4: has) in the first paragraph, after the words: 'the establishment', shall be inserted the words: "credit or financial institution";
(b) in the second paragraph, the words: 'is immediately notified, in french, to' shall be replaced by the words: 'it is immediately notified, in french. "
6 ° in article 6, the words: 'European Communities' shall be replaced by the words: 'of the European Union' and the words: "the Act" are replaced by the words: "this code".


Article 4 more on this article...

The rules of the regulatory committee banking No. 92-14 of 23 December 1992 referred to above is amended as follows: 1 ° in the title of the regulations, the word: 'minimum' is replaced by: "initial" and after the words: 'credit institutions', are added the words 'and finance companies ';
2 ° a article 1: has) in the first paragraph, after the word: "capital", is inserted the word: «initial»;
(b) in paragraph 2 (a): ― in the first sentence, after the words: "welfare," shall be inserted the words: "credit institutions specialized and» and the words:" below and specialized financial institutions ' shall be deleted;
― in the second sentence, the words: 'article' are replaced by the words: "article R. 515 - 1 of the code."
(c) in the third paragraph (b), after the words: 'of funds", is inserted the word:"refundable"and the words:", as well as financial companies other than those referred to in (c) and (d) below ' shall be deleted;
(d) in the fourth paragraph (c), the words: ', financial companies whose approval is limited to the exercise of surety operations, including the operations of bank-financial corporations are limited to the exercise of foreign exchange transactions scriptural in cash including a credit transaction' shall be deleted;
3 ° article 2 is replaced by the following: «art.» (2 - finance companies referred to in article L. 511 - 1 of the monetary and financial code should have an initial paid-up or a paid appropriation of an amount at least equal to: a) 2.2 million euros for finance companies other than those mentioned in b;
(b) 1.1 million euros for companies financing the approval of which is limited to the exercise of deposit operations. » ;
4 ° the articles 3 and 4 are repealed;
5 ° in article 5, the words: 'European Communities' shall be replaced by the words: 'of the European Union or party to the European economic area agreement' and the word: 'minimum' is replaced by: 'original ';
6 ° in article 6, the words: 'European Communities' shall be replaced by the words: 'of the European Union nor party to the European economic area agreement' and the word: 'minimum' is replaced by: 'original ';
7 ° article 7 is replaced by the following: «art.» 7 - for the purposes of this regulation, capital includes the elements mentioned in the a to e of paragraph 1 of article 26 of Regulation (EU) No. 575/2013 of the European Parliament and of the Council of June 26, 2013. » ;
8 ° article 7 bis is hereby repealed.


Article 5 the rules of the Committee of banking and financial regulation No. 96-15 of 20 December 1996 referred to above is amended as follows: 1 ° in the title of the regulation, in article 1, the first, second and third paragraphs of article 2, in the first paragraph of article 3, the first paragraph of article 3 bis and article 3 ter, the word: 'minimum' is replaced by the word : "initial".
2 ° in article 3 bis, a paragraph worded as follows is added: "For the purposes of this article, the holding of non-trading-book business, within the meaning of the 86, paragraph 1 of article 4 of Regulation (EU) No. 575/2013 of the European Parliament and of the Council of June 26, 2013, relating to financial instruments to invest own funds positions is not considered as a transaction for account in the context of the provision of these services.";
3 ° article 4 is replaced by the following: «art.» 4 - for the purposes of this regulation, capital includes the elements mentioned in the a to e of paragraph 1 of article 26 of Regulation (EU) No. 575/2013 of the European Parliament and of the Council of June 26, 2013. ' Article 6 more on this article...

The rules of the Committee of banking and financial regulation No. 96-16 of 20 December 1996 referred to above is amended as follows: 1 ° in the title of the regulation, after the words: 'credit institutions', shall be inserted the words: ", from financing companies.
2 ° (a) in article 1, after the words: 'credit institutions', shall be inserted the words: ", finance companies ';
3 ° (a) article 2: has) to b of 3 ° of the 2.2, references: "2006/48/EC, 85/611/EEC, 92/49/EEC, 2002/83/EC or 2005/68/EC" are replaced by the words: "2009/65/EC, 2009/138/EC, 2004/39/EC, 2013/36/EU or regulation (EU) No. 575/2013 of the European Parliament and of the Council of June 26, 2013";
(b) at the 4th of 2.2, the word: «it» is replaced by: 'she '.
(c) to 5 ° of the 2.2, the word: 'opposite' is replaced by: "opposed".
(d) in 7 of the 2.2: ― in the first paragraph, the words: 'the same credit institution or the same investment firm' shall be replaced by the words: "the same subject enterprise."
― the second subparagraph is deleted;
(e) in the first paragraph of the 2.4, the words: 'a subject undertaking' shall be replaced by the words: "a credit institution or an investment firm" and the word: «it» is replaced by: 'it ';
4 ° in the first sentence of the first subparagraph of article 5, after the words: 'credit institutions', shall be inserted the words: "or finance companies" and after the words: 'of resolution, are inserted the words: ' identity, the amount of participation and ";
5 ° to chapter I, he restored a section 6 worded as follows: «art.» 6. - subject companies shall inform the authority of prudential and resolution, as soon as they have knowledge of any operation of mentioned in 2.1. of article 2. » ;
6 ° in the fifth paragraph of article 7, after the words: 'a credit institution', shall be inserted the words: "or a finance company.
7 ° to the first paragraph of article 9, the words: "the actual determination of the orientation" are replaced by the words: 'effective management ';
8 ° the first paragraph of article 12 is replaced by the following: "financial institutions within the meaning of article L. 511 - 21 of the monetary and financial code, with the exception of finance companies, payment institutions and electronic money institutions, which have their headquarters in France and who hold directly or indirectly an effective power of control over one or more subject companies. ', shall declare it immediately to the authority of prudential and resolution changes to their situation on:


Article 7 this order comes into force on January 1, 2014.


Article 8 this order will be published in the Official Journal of the French Republic.


Made on December 23, 2013.
Pierre Moscovici

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