Instruction No. 2002-02 of March 28, 2002 regarding the submission of annual accounts, periodic documents, and other information

BANKING COMMISSION

Instruction No. 2002-02 regarding the submission of annual accounts, periodic documents as well as various information

The Banking Commission, Having regard to the Monetary and Financial Code, particularly its Articles L 321-1, L 421-8, L 442-2, L 531-4, L 532-5, L 613-2, L 613-8; Having regard to Regulation No. 97-03 of the Banking and Financial Regulation Committee dated February 21, 1997, as amended, relating to the preparation and publication of accounts of investment firms other than portfolio management companies; Having regard to Banking Commission Instruction No. 87-03 of January 23, 1987 relating to the own funds and permanent resources coefficient; Having regard to Banking Commission Instruction No. 88-03 of April 22, 1988 relating to liquidity; Having regard to Banking Commission Instruction No. 91-02 of March 22, 1991 relating to the calculation of the solvency ratio; Having regard to Banking Commission Instruction No. 93-01 of January 29, 1993, as amended, relating to the transmission to the Banking Commission by credit institutions and financial companies of their annual accounts, prudential documents as well as various information; Having regard to Banking Commission Instruction No. 94-09 of October 17, 1994, as amended, relating to documents intended for the Banking Commission; Having regard to Banking Commission Instruction No. 96-01 of March 8, 1996 relating to the prudential supervision of market risks; Having regard to Banking Commission Instruction No. 97-03 of June 19, 1997 relating to the supervision of management standards applicable to investment firms; Having regard to Banking Commission Instruction No. 97-04 of June 19, 1997, as amended, relating to the transmission by investment firms of their annual accounts, periodic documents as well as various information;

2 Having regard to Banking Commission Instruction No. 99-04 of July 19, 1999 relating to the supervision framework for investment firms; Having regard to Banking Commission Instruction No. 99-09 of August 30, 1999 relating to the calculation of the coverage ratio of privileged resources by asset elements applicable to land credit companies; Having regard to Banking Commission Instruction No. 99-10 of August 30, 1999 relating to the coverage of financing excesses by non-privileged resources applicable to land credit companies; Having regard to Banking Commission Instruction No. 2000-07 of September 4, 2000 relating to the control of large risks and gross risks; Having regard to Banking Commission Instruction No. 2000-09 of October 18, 2000 relating to information on the anti-money laundering prevention framework; Decides:

Chapter 1: Transmission of periodic statements

Article 1 – I. In Article 1 of the aforementioned Instruction No. 94-09, to which the BAFI collection is annexed, the terms "Credit institutions" are replaced by the terms: "Credit institutions and investment firms, other than portfolio management companies, as well as legal persons members of regulated markets for financial instruments or carrying out a financial instrument clearing activity, referred to respectively in Article L. 421-8 and in point 3 of Article L. 442-2 of said Code, with the exception of market members authorized exclusively to provide the service mentioned in point 3 of Article L.321-1, hereinafter referred to as subject establishments." II. The second dash of Article 2 is modified as follows: "the accounting principles and valuation methods provided for by the Commercial Code, the specific rules established by the Banking and Financial Regulation Committee, and the Accounting Regulation Committee as well as methodological notes,". III. In the sixth and eighth dashes of Article 2, the words "credit institutions" are replaced by the word "subject establishments".

Article 2 – The presentation notes and certain sheets of the statements attached as annexes to the aforementioned Instruction No. 94-09 are modified in accordance with Annex 1 to the present instruction. The modifications and additions are underlined and the deletions are struck through; they concern the following statements: -mod. 4014- relating to operations with resident clients;

3 -mod. 4015- relating to operations with non-resident clients; -mod. 4016- relating to trading securities operations, operations on conditional instruments, various operations, immobilized values; -mod. 4018- relating to the securities portfolio and issued securities; -mod. 4022- relating to off-balance sheet commitments (financing, guarantee); -mod. 4023- relating to off-balance sheet commitments (financial derivative instruments); -mod. 4029- relating to operations with the group; -mod. 4091- relating to activity indicators (securities activities and other assets for third-party accounts). New complementary documents to the aforementioned statements –mod. 4016, 4022 and 4091-, respectively named statements –mod. 4116, 4122 and 4191-, the latter replacing the existing statement –mod. 4191-, attached as Annex 1 to the present instruction, are submitted by establishments as soon as they exercise their activity in at least two of the following four geographical zones: mainland France, DOM (Overseas Departments), TOM (Overseas Territories) and abroad. The statements referred to in this article are sent to the General Secretariat of the Banking Commission by all establishments referred to in Article 1 of the aforementioned Instruction No. 94-09, according to the submission rules described in the presentation notes of these statements.

Article 3 – A new statement –mod. 4085– relating to the results of operations on financial instruments as well as a complementary document to this statement, –mod. 4185-, attached as Annex 2 to the present instruction, are annexed to the aforementioned Instruction No. 94-09. The complementary statement is submitted by establishments as soon as they exercise their activity in at least two of the following four geographical zones: mainland France, DOM, TOM and abroad. They are sent each quarter by electronic transmission to the General Secretariat of the Banking Commission, no later than the last day of the month following the closing date, by the submitting establishments and according to the submission rules described in their respective presentation notes.

Article 4 – The statement –mod. SB40– relating to credit operations of investment firms, annexed to the aforementioned Instruction No. 97-04, is renamed statement –mod. 4036– and is annexed to the aforementioned Instruction No. 94-09. Branches in France of investment firms whose headquarters are located in another State party to the Agreement on the European Economic Area are not subject to the submission of this statement.

Article 5 – The statement –mod. 4034– "deposit guarantee – additional data", annexed to the aforementioned Instruction No. 94-09 is renamed "deposit and securities guarantee – additional data". The semi-annual submission of this statement to the General Secretariat of the Banking Commission is extended to members of the securities guarantee mechanism, other than credit institutions.

4 Article 6 – The following statements: -mod. 4000- relating to the territorial situation; -mod. 4011- relating to operations by currency families; -mod. 4012- relating to financing operations with resident credit institutions; -mod. 4013- relating to financing operations with non-resident credit institutions; -mod. 4017- relating to securities sold under repurchase agreements, securities lent and conditional instruments; -mod. 4021- relating to provisions, own funds and similar items; -mod. 4025- relating to firm forward transactions in currencies; -mod 4027- relating to provisions on doubtful claims, on off-balance sheet commitments and on country risks; -mod. 4080- relating to the income statement; -mod. 4081- relating to the results of operations on financial derivative instruments; -mod. 4084- relating to the allocation of results; -mod. 4090- relating to activity indicators, securities activity and other activities for third-party accounts (operations carried out during the fiscal year); -mod. 4092- relating to financial instruments and other assets on deposit; -mod. 4100- relating to the balance sheet; -mod. 4125- relating to firm forward transactions in currencies; -mod. 4180- relating to the income statement; -mod. 4900- relating to the consolidated balance sheet; -mod. 4980- relating to the consolidated income statement; are sent to the General Secretariat of the Banking Commission by all establishments referred to in Article 1 of the aforementioned Instruction No. 94-09, according to the same submission rules as those established for credit institutions. Branches in France of investment firms whose headquarters are located in another State party to the Agreement on the European Economic Area are subject to the same submission rules, for the statements referred to in this article, as branches in France of credit institutions whose headquarters are located in another State party to the Agreement on the European Economic Area.

Article 7 – The chart of accounts appearing in Chapter 3 of the BAFI collection, annexed to the aforementioned Instruction No. 94-09, is modified in accordance with the provisions appearing in Annex 3 of the present instruction.

Article 8 – The concordance tables between the items of the statements annexed to the aforementioned Instruction No. 94-09 and the chart of accounts appearing in Chapter 3 of the BAFI collection are, where applicable, modified in accordance with the provisions of Annex 4 of the present instruction.

5 Chapter 2: Transmission of annual documents, prudential documents as well as various information

Article 9 – The aforementioned amended Instruction No. 93-01 is hereby renamed: "Instruction No. 93-01 of January 29, 1993 relating to the transmission to the Banking Commission of annual accounts, prudential documents as well as various information".

Article 10 – Article 1 of Instruction No. 93-01 is deleted. The following new Article 1 is inserted before Chapter 1 "annual documents": "Credit institutions and investment firms, excluding portfolio management companies, referred to respectively in Articles L. 511-1 and L. 531-4 of the Monetary and Financial Code, as well as legal persons members of regulated markets for financial instruments or carrying out a financial instrument clearing activity, referred to respectively in Article L. 421-8 and in point 3 of Article L. 442-2 of this same Code, are hereinafter referred to as subject establishments." A second paragraph is inserted in Article 2: "Other subject establishments send to the General Secretariat of the Banking Commission, no later than 10 days after the holding of the general meeting deciding on the annual accounts, which must in any case take place before May 31, the balance sheet, income statement and notes prepared in accordance with the provisions of the aforementioned Regulation No. 97-03." In the last paragraph of Article 2, the words "credit institutions" are replaced by the words "subject establishments" and the words "of their individual annual accounts" are inserted after the word "publication". A second paragraph is inserted in Article 3: "Other subject establishments send to the General Secretariat of the Banking Commission, no later than June 15, the consolidated balance sheet, income statement and notes prepared in accordance with the provisions of Regulation No. 99-07 of the Accounting Regulation Committee." In the last paragraph of Article 3, the words "credit institutions" are replaced by the words "subject establishments" and the words "of their consolidated accounts" are inserted after the word "publication". The first paragraph of Article 4 is replaced by the following paragraph: "Branches in France of a credit institution or investment firm whose headquarters are abroad send to the General Secretariat of the Banking Commission the publishable accounts (balance sheet, income statement, notes) individual and, where applicable, consolidated of the establishment of which they are part." In the last paragraph of Article 4, the word "establishment" is replaced by the words "credit institution or investment firm" and the expression "an individual publishable balance sheet –mod. 4200–, an individual publishable income statement –mod. 4290– and the notes under conditions analogous to those provided for in Article 2" is replaced by the following expression "their annual accounts in accordance with the provisions of Article 2". The following expression is added at the beginning of the first paragraph of Article 5: "The publishable balance sheets and income statements, individual and consolidated referred to in the second paragraph of Articles 2 and 3, and" In Article 6, the words "credit institutions" are replaced by the words "subject establishments" and the word "April 30" is replaced by the word "March 31" In Article 7, the words "credit institutions" are replaced by the words "subject establishments", the expression "at the same time as the documents –mod. 4990– and –mod. 4999–" by "no later than June 15" and the word "consolidated" is inserted after the words "income statement". In Article 8, the words "credit institutions" are replaced by the words "subject establishments". The following fifth dash is inserted: "- the documents equivalent to the aforementioned reports when the situation of the establishment does not correspond to the cases mentioned above,". The following seventh dash is inserted: "- the detailed report on consolidated accounts, prepared by the statutory auditors for the management of the consolidating company, defined by Regulation No. 99-07 of the Accounting Regulation Committee,". The last dash is replaced by the following dash: "- the resolutions adopted by the shareholders' meeting, the partners' meeting or the one that takes its place in other cases." In the last paragraph, the words "of Article 8 of Regulation No. 90-11 of the aforementioned Banking Regulation Committee" are replaced by the words "of Regulation No. 96-16 of the Banking and Financial Regulation Committee". Article 9 is replaced by the following paragraph: "The statements -mod. 4001-1, 4001-2, 4002, 4003, 4004, 4005, 4006, 4008, 4009, QLB1, QLB2, QLB3 and QLB4- are, where applicable, communicated to the General Secretariat of the Banking Commission under the conditions prescribed respectively by Instructions No. 99-09, No. 99-10, No. 97-03, No. 2000-07, No. 87-03, No. 88-03, No. 96-01, No. 91-02, and No. 2000-09 of the Banking Commission by electronic transmission accompanied by a paper listing." In Articles 11 and 12, the words "credit institutions" are replaced by the words "subject establishments". In Article 13, the expression "Establishments send as soon as possible" is replaced by the expression "Subject establishments send as soon as possible, where applicable," and the expression "45 days after the sending of the periodic quarterly situations –mod. 4000-" is replaced by "75 days following the end of each of the quarters".

6 In the first paragraph of Article 14, the words "credit institutions" are replaced by the words "subject establishments" and the expression "listed in whole or in part on the official list of a stock exchange" is replaced by the expression "admitted to trading on a regulated market". In the second paragraph of Article 14, the word "establishments" is replaced by the words "credit institutions" and the last sentence is replaced by the following sentences: "Other subject establishments required to publish this document on a consolidated basis send to the General Secretariat of the Banking Commission within four months following the end of the first semester a consolidated semi-annual activity and results table in accordance with the provisions of the aforementioned Regulation No. 97-03. Subject establishments and financial companies also send a copy of the publication in the mandatory legal announcements bulletin of this document under conditions analogous to those described in the first paragraph." Article 15 is replaced by the following paragraph: "This instruction applies to fiscal years opened after December 31, 2002." Article 10 is deleted and the numbering of articles is revised accordingly.

Article 11 – The aforementioned Banking Commission Instruction No. 97-04 of June 19, 1997 is repealed.

Article 12 – This instruction enters into force on January 1, 2003, except for Article 13 below which enters into force immediately.

Chapter 3: Transitional provisions

Article 13 – Notwithstanding the provisions of Instruction No. 97-04, investment firms, other than portfolio management companies, referred to in Article L. 531-4 of the Monetary and Financial Code as well as legal persons members of regulated markets for financial instruments or carrying out a financial instrument clearing activity, referred to respectively in Article L. 421-8 and in point 3 of Article L. 442-2 of this same code, approved after the adoption of this instruction, transmit to the General Secretariat of the Banking Commission the same information as legal persons approved as securities houses that have opted for the status of investment firms for the period up to December 31, 2002 inclusive. Paris, March 28, 2002 The President of the Banking Commission, Hervé HANNOUN