French Monetary and Financial Code
In forceThe association may impose one of the following sanctions on member companies, their publication director or, failing that, their legal representative, depending on the seriousness of the breach:
1° A warning ;
2° a reprimand
3° Compulsory insertion of a notice or press release in the publication concerned;
4° Broadcast of a statement on air.
The Association may also temporarily or permanently exclude one of its members. This measure may only be taken in cases where the member concerned fails to comply with a sanction imposed on him or when he has been repeatedly sanctioned for breaches of the rules defined in the code of good conduct.
No sanction may be imposed without the person concerned or his/her representative having been heard or, failing this, having been duly summoned.
The Association shall make its decision no later than three months after the matter has been referred to it. It shall inform the Autorité des marchés financiers of its decision within one month. In the absence of a decision by the end of this three-month period, the association is deemed to have decided that there are no grounds for sanction.
The Association may publish its decision in the publications, newspapers or media that it designates. The related costs are borne by the sanctioned member.
The association's articles of association shall lay down the procedures for initiating and carrying out the sanction procedure provided for in the preceding paragraphs.
