French Monetary and Financial Code
In forceI. - For the persons mentioned in 1° to 6° and 7° bis of Article L. 561-2, the obligations laid down in I and III of Article L. 561-5 and in Article L. 561-5-1 may be implemented by a third party in either of the following two cases:
1° The third party is a person mentioned in 1° to 2° ter or 3° bis, 5°, 6°, 12°, 12° bis or 13° of Article L. 561-2 or the person is a service provider mentioned in 1° and 2° of Article L. 54-10-2, exercising his profession or activity or having his registered office in France, or a person belonging to an equivalent category under foreign law and located in another Member State of the European Union, in a State party to the European Economic Area or in a third country imposing equivalent obligations in terms of the fight against money laundering and terrorist financing ;
2° The third party is a person mentioned in 1° to 2° ter or 3° bis, 5°, 6° or 8° of Article L. 561-2 or the person is a service provider mentioned in 1° and 2° of Article L. 54-10-2, or a person belonging to an equivalent category under foreign law, who belongs to the same group within the meaning of Article L. 511-20, excluding mixed groups, a financial conglomerate within the meaning of Article L. 517-3 or a group within the meaning of Articles L. 322-1-2, L. 322-1-3 and L. 356-2 of the Insurance Code or within the meaning of Article L. 111-4-2 of the Mutual Code or within the meaning of Article L. 931-2-2 of the Social Security Code. The group shall apply the measures provided for in this chapter in accordance with Article L. 561-33 where the parent undertaking has its registered office in France, or equivalent measures where this is not the case. In addition, where the third party is located in a third country that appears on the list published by the European Commission pursuant to Article 9 of Directive (EU) 2015/849 of 20 May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing, the group shall notify the Autorité de contrôle prudentiel et de résolution of the use of this third party and the documents justifying that the group does indeed ensure that this third party implements the group procedures mentioned in Article L. 561-33.
The reporting entity shall have access to the information gathered by the third party under the conditions laid down by a decree of the Conseil d'Etat.
A reporting entity that relies on the due diligence of a third party remains responsible for compliance with its obligations.
II. - The persons mentioned in 1° to 6° and 7° bis of Article L. 561-2 may communicate the information collected for the implementation of Article L. 561-5 and Article L. 561-5-1 to another person mentioned in 1° to 6° and 7° bis of Article L. 561-2 located or having its registered office in France. They may also communicate this information to an institution offering financial activities equivalent to those carried out by the persons mentioned in 1° to 6° and 7° bis of Article L. 561-2, if the following conditions are met:
1° The third party recipient is located in another Member State of the European Union, in a State party to the Agreement on the European Economic Area or in a third country imposing equivalent obligations in terms of the fight against money laundering and the financing of terrorist activities, or is part of a group or financial conglomerate that has set up an organisation and procedures mentioned in Article L. 561-33 ;
2° The processing by the third party receiving the personal data guarantees an adequate level of protection for the privacy and fundamental rights and freedoms of individuals, in accordance with Articles 122 and 123 of Act 78-17 of 6 January 1978 on Data Processing, Data Files and Individual Liberties.
For the purposes of this article, the persons mentioned in 1° to 6° of article L. 561-2 are understood to exclude the persons mentioned in 1° bis of the same article who mainly provide the service mentioned in 6° of II of article L. 314-1.
The terms and conditions of application of this article are specified by decree in the Conseil d'Etat.
