French Monetary and Financial Code
In forceFor the authorisation procedure for the service providers mentioned in Article L. 547-1, the Autorité des marchés financiers shall assess the completeness of the application within twenty-five working days of receiving an application for authorisation. It shall involve the Autorité de contrôle prudentiel et de résolution in this assessment where the applicant's programme of operations includes facilitating the granting of loans. If the application is not complete, the AMF will set a deadline for the applicant to provide the missing information.
The AMF will notify the applicant of its decision within three months of receipt of the complete application. If the AMF does not respond within this period, the application is deemed to have been rejected. Where the applicant's programme of operations includes facilitating the granting of loans, the Autorité des marchés financiers will forward the application to the Autorité de contrôle prudentiel et de résolution within five working days of receipt of the complete application for its assent. The latter sends its opinion to the AMF within two months of the AMF's transmission.
The extension of an ISP's authorisation is granted under the same conditions.
Except where the withdrawal is requested by the provider of the equity crowdfunding service, where the AMF is considering withdrawing the authorisation of an equity crowdfunding service provider pursuant to Article L. 547-1, it shall inform the provider, stating the reasons for the proposed decision. The provider has one month from receipt of this notification in which to make any observations.
