Regulatory Alerts2015-10-02
Instruction No. 2015-I-20 of October 2, 2015, regarding the deadline for transmitting indicators related to market-making activities defined by the September 9, 2014 order
The Prudential Control and Resolution Authority issued Instruction No. 2015-I-20 to establish specific transmission deadlines for market-making indicators from credit institutions and financial holding companies. The directive mandates that covered entities submit annual, quarterly, and supplementary indicators to the Authority's General Secretariat by defined dates, including March 1 for annual data and mid-month deadlines for quarterly reports. These requirements apply to internal units engaged in market-making activities as defined under the Monetary and Financial Code.
PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY
Instruction No. 2015-I-20 regarding the deadline for transmitting indicators related to market-making activities defined by the order of September 9, 2014 implementing Title I of Law No. 2013-672 of July 26, 2013 on the separation and regulation of banking activities
The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code, in particular Articles L. 511-47, L. 511-48, L. 511-49, L. 612-24 and R. 511-16; Having regard to the order of September 9, 2014 implementing Title I of Law No. 2013-672 of July 26, 2013 on the separation and regulation of banking activities; Having regard to the opinion of the Prudential Affairs Consultative Committee dated September 18, 2015, Decides:
Article 1 The following are hereinafter referred to as "subject institutions": credit institutions, financial holding companies and mixed financial holding companies whose trading activities in financial instruments exceed the threshold defined in Article R. 511-16 of the Monetary and Financial Code and which carry out market-making activities within the meaning of V of Article L. 511-47.
Article 2 In application of Article 6 of the aforementioned order of September 9, 2014, subject institutions transmit to the General Secretariat of the Prudential Control and Resolution Authority: a) For each internal unit responsible for market-making operations within the meaning of 1° or 2° of V of Article L. 511-47 of the Monetary and Financial Code, the annual market-making indicators of type 1 or 2 defined in Annex 1 to that order, no later than March 1 of the year following the end of the relevant calendar year; b) For each internal unit responsible for market-making operations within the meaning of 1° or 2° of V of Article L. 511-47, the quarterly market-making indicators of type 1 or 2 defined in Annex 2 to that order, no later than:
- the fifteenth day of the second month following the end of the relevant calendar quarter, for the first, third and fourth calendar quarters,
- September 1 for the second calendar quarter; c) For each internal unit responsible for market-making operations within the meaning of 1° of V of Article L. 511-47, the supplementary quarterly market-making indicators of type 1 defined in Annex 3 to that order, no later than:
- the fifteenth day of the second month following the end of the relevant calendar quarter, for the first, third and fourth calendar quarters,
- September 1 for the second calendar quarter.
Article 3 This Instruction enters into force upon its publication. Paris, October 2, 2015 The President of the Prudential Control and Resolution Authority, [Christian NOYER]