Section 2: Management standards applicable to investment services providers and prudential provisions applicable to investment firms

Articles in this section · 15

L533-2L533-2-1L533-2-2L533-2-3L533-3L533-4L533-4-1L533-4-2L533-4-3L533-4-4L533-4-5L533-4-6L533-4-7L533-4-8L533-4-9

Article L533-4-2

French Monetary and Financial CodeIn force
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Updated 7 Nov 2023

I.-The Autorité de contrôle prudentiel et de résolution may decide to apply the requirements of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013, in accordance with point (c) of the first subparagraph of Article 1(2) of Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019, to an investment firm which carries on any of the activities referred to in 3, 6-1 or 6-2 of Article L. 321-1, where the total value of the consolidated assets of the investment firm, calculated as an average over the last twelve months, reaches or exceeds €5 billion, and where one or more of the following criteria apply:

1° The investment firm carries out these activities on such a scale that its failure or difficulties could lead to systemic risk;

2° The investment firm is a clearing member within the meaning of Article 4(1)(3) of Regulation (EU) 2019/2033;

3° The Autorité de contrôle prudentiel et de résolution considers that this is justified by the scope, nature, scale and complexity of the activities carried out by the investment firm concerned and having regard to one or more of the following factors:

a) The importance of the investment firm for the national or European Union economy;

b) The importance of the cross-border activities of the investment firm;

c) The interconnection of the investment firm with the financial system.

II -I shall not apply to commodity and emission allowance traders as defined in point 150 of paragraph 1 of Article 4 of Regulation (EU) No 575/2013, collective investment undertakings or insurance undertakings.

III - Where the Autorité de contrôle prudentiel et de résolution decides to rescind a decision taken in accordance with I, it shall inform the investment firm without delay.

Any decision taken by the AMF pursuant to I shall cease to apply if an investment firm no longer complies with the threshold referred to in I, calculated over a period of twelve consecutive months.

IV - The Autorité de contrôle prudentiel et de résolution shall inform the European Banking Authority without delay of any decision taken in accordance with I and III.

Mariela Petrova

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A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

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Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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