Subsection 1: General provisions

I. - Supervision of compliance by the persons referred to in Article L. 561-2 with the obligations laid down in Chapters I and II of this Title, with directly applicable European provisions relating to the fight against money laundering and terrorist financing, including those of the European regulations on restrictive measures adopted pursuant to Articles 75 or 215 of the Treaty on the Functioning of the European Union, as well as those adopted pursuant to the same Article 215 for other purposes and, where applicable, the power to impose penalties in the event of non-compliance therewith, shall be ensured :

1° By the Autorité de contrôle prudentiel et de résolution under the conditions defined in Article L. 561-36-1 ;

2° By the Autorité des marchés financiers in respect of the collective investment management companies referred to in Article L. 543-1, the branches of the European UCITS and AIF management companies referred to in Articles L. 532-20-1 and L. 532-21-3, the collective investments mentioned in I of Article L. 214-1, the persons mentioned in 7 of Article L. 440-2, for those of them that fall under the jurisdiction of the Autorité des marchés financiers, the central depositories mentioned in 1° and 2° of I of Article L. 441-1 and managers of financial instrument settlement and delivery systems, persons authorised under Article L. 621-18-5, financial investment advisers, providers of participative financing services in respect of their activities referred to in Article L. 547-4 and issuers of tokens referred to in Article L. 561-2 , 7°b and providers referred to in Article L. 561-2, 7°c ;

3° By the Bar Council of the Bar with which the lawyers are registered, in accordance with Article 17 of Law No. 71-1130 of 31 December 1971 reforming certain legal professions. It may be assisted in its supervisory role by the Conseil national des barreaux in accordance witharticle 21-1 of the same law;

4° By the chambers of notaries in respect of the notaries within their jurisdiction, in accordance with article 4 of Order no. 45-2590 of 2 November 1945 relating to the status of notaries. They may be assisted in their supervisory role by the Conseil Supérieur du Notariat, in accordance with article 6 of the same order;

5° Subject to 8° below, by the regional chamber of judicial commissioners in respect of the judicial commissioners within their jurisdiction, in accordance with Article 15 of Order 2016-728 of 2 June 2016 on the status of judicial commissioner. They may be assisted in their supervisory role by the national chamber of judicial commissioners, in accordance with Article 16 of the same Order.

6° (Repealed) ;

7° By the Conseil de l'ordre des avocats au Conseil d'Etat et à la Cour de cassation (Council of the Bar of the Conseil d'Etat and the Court of Cassation) over the avocats au Conseil d'Etat et à la Cour de cassation, in accordance witharticle 13-1 of the Order of 10 September 1817 which brings together, under the name of Ordre des avocats au Conseil d'Etat et à la Cour de cassation (Bar of the Conseil d'Etat and the Court of Cassation), the Ordre des avocats aux conseils (Bar of the Conseil d'Etat and the Court of Cassation) and the Collège des avocats à la Cour de cassation (Bar of the Court of Cassation), irrevocably fixes the number of members and contains provisions for internal discipline of the Bar;

8° Under the conditions defined in Title I of Book VIII of the Commercial Code for court-appointed administrators, court-appointed agents and the persons mentioned in III of Article L. 812-2 of the Commercial Code;

9° Under the conditions defined in Title II of Book VIII of the Commercial Code for statutory auditors;

10° By the Order of Chartered Accountants in respect of chartered accountants and employees authorised to practise the profession of chartered accountant pursuant to Articles 83 ter and 83 quater of Order No 45-2138 of 19 September 1945 establishing the Order of Chartered Accountants and regulating the title and profession of chartered accountant, in accordance with Article 1 of that Order;

11° (Repealed) ;

12° By the customs authorities for the persons mentioned in 10°, 11° bis and 14° of Article L. 561-2 ;

13° By sports federations in accordance with Article L. 222-7 of the French Sports Code for persons mentioned in 16° of Article L. 561-2;

14° By the competent administrative authority as designated by decree in the Conseil d'Etat pursuant to Article L. 561-36-2, for the persons mentioned in 8°, 9°, 9 bis, 11° and 15° of Article L. 561-2;

15° By the Commission de Contrôle des Caisses des Régulations Pécuniaires des Avocats for the persons mentioned in 18° of Article L. 561-2;

16° By the Conseil national des greffiers des tribunaux de commerce (National Council of Commercial Court Registrars), under the conditions defined in Title IV of Book VII of the Commercial Code, for the commercial court registrars mentioned in Article L. 741-1 of the same code.

II. - In the event that a person referred to in Article L. 561-2 fails to fulfil all or some of its obligations under this Title, the competent authority may initiate sanction proceedings against that person. Such proceedings are initiated in all cases where there are facts likely to constitute serious, repeated or systematic breaches of these obligations.

In the event of a failure by a person referred to in Article L. 561-2 to comply with all or some of the obligations incumbent upon it by virtue of this Title, the competent authority may also sanction the directors of this person as well as other natural persons employed by, entrusted to or acting on behalf of this person, on account of their personal involvement.

If the competent authority initiates sanction proceedings, it shall notify the public prosecutor. By way of derogation, in the case of lawyers at the Conseil d'Etat and the Cour de cassation, lawyers and the persons mentioned in 18° of Article L. 561-2, it shall notify, as appropriate, the Principal State Prosecutor at the Cour de cassation or the Principal State Prosecutor at the Cour d'appel.

III. - The supervisory authorities referred to in I shall monitor compliance with the obligations laid down in this Title by regulated persons whose registered office is in another Member State of the European Union or a party to the European Economic Area insofar as they operate establishments on national territory or carry on their business there under the conditions laid down in Articles 1° quater or 6 bis of Article L. 561-2.

Each supervisory authority shall receive from or communicate to its counterpart in that Member State the information necessary for the performance of its duties.

IV - The supervisory authorities mentioned in I shall ensure that they have a good understanding of the risks of money laundering and terrorist financing. As part of their off-site and on-site inspections, they shall have access to all information relating to national and international risks associated with customers and the activities of persons under their jurisdiction. They assess the money laundering and terrorist financing risk profile of the persons under their jurisdiction, including the risks of non-compliance with regulations. They shall review this assessment periodically or when major changes occur in the management or activities of these persons.
These authorities shall determine the frequency and intensity of their documentary and on-site controls, taking into account in particular the risk profile of the persons under their jurisdiction and the risks of money laundering and terrorist financing.
They shall examine the risk assessments put in place by the persons under their jurisdiction pursuant to Article L. 561-4-1 and the implementation and adequacy, based on a risk-based approach, of the organisation, internal procedures and internal control measures that these persons put in place for this purpose pursuant to Article L. 561-32.

V.-Subject to the application of Articles L. 561-18, L. 561-25 and L. 561-25-1, the supervisory authorities mentioned in 3° to 11° of I shall publish an annual report on their supervisory and sanctioning activities. This report shall contain anonymised quantitative data relating to exchanges of information with the department referred to in Article L. 561-23. A decree of the Conseil d'Etat shall specify the content and method of publication of this report.