Prudential Control and Resolution Authority

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Prudential Control and Resolution Authority

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Themes

Prudential Control and Resolution Authority, ACPR, Financial Markets Authority, Bank of France, Financial Stability Oversight Council, FSOC, European Central Bank, ECB, banking supervision, financial regulation, banking activities, resolution college, disciplinary committee, anti-money laundering, counter-terrorism financing, AML/CFT, credit institutions, payment institutions, financial institutions, insurance companies, banking products, deontological obligations, financial holding companies, clearing houses, mutual banks, lending companies, electronic money institutions, investment firms, payment service providers, national regulator, French banking authority, banking control, financial stability, resolution mechanism, Unique Resolution Mechanism, URM, sanction commission, judicial body, banking sanctions, financial legislation, regulatory compliance, banking law, financial supervision, European banking supervision, national banking authority, banking resolution, financial crisis management, banking regulation France

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Abstract
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Abstract

The Prudential Control and Resolution Authority (ACPR) is the national regulator of banking activities in France, responsible for supervising and controlling financial institutions.

Extract

[...] Composition and functioning The Prudential Control and Resolution Authority (ACPR) is composed of three main entities: - A a college of supervision; - A college of resolution; - A commission of sanctions, here constitutes the armed wing of the ACPR. A. The Supervisory Board The the Supervisory Board is responsible for the surveillance of French and non-systemic establishments (CIC, CCF, Crédit-Mutuel?) It is a kind of homologue of the European Central Bank, in its implementation of the single surveillance mechanism. [...]

[...] The Prudential Control and Resolution Authority The Prudential Control and Resolution Authority (PCRA) is the national regulator of banking activities in France. Although a a part of its competences has been transferred to the European Central Bank (ECB) within the framework of the MSU this does not does not mean that the ACPR has lost all authority. In fact, it retains an auxiliary role and contributes to an important part of the supervisory work. For example, A large part of the supervision of the BNP is carried out in France. [...]

[...] At this stage, a rapporteur is designated, playing a role similar to that of an investigating judge. He leads investigative proceedings, investigations, at the expense and on behalf of, before the commission takes a decision on sanction, subject to appeal to the Council of State. The Disciplinary Committee is composed of 6 members : - 2 members of the Conseil d'État ; - 1 member of the Cour de cassation ; - 3 members chosen for their competence in banking or insurance. One might question the opportunity of having two members of the Council of State sitting for a single member of the Cour de cassation. [...]

[...] The composition of the college of resolution is established at the article L612-8-1 of the Monetary and Financial Code. It is not not exactly the same as that of the college of supervision. It is in fact only composed of 7 members? exit the professionals of the sector, there is only left: - The governor of the Bank of France or his representative, president; - The director general of the Treasury or his representative; Although the bankruptcy of a non-systemic institution causes less significant consequences than that of an institution directly subject to the control of the ECB, it can have significant repercussions on the economy and the state's finances. [...]

[...] ACPR also has the mission to ensure the supervision of establishments. It is necessary to modulate the hypotheses in which credit institutions fall under the competence of the BCE or that of the ACPR. In cases where the ACPR intervenes, it implements its own control and its power of surveillance, this also applies to financing companies that do not have a European status. In addition, the ACPR monitors the protection of the clientèle by the establishments, in particular the credit establishments. [...]

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