Regulatory Alerts2026-05-11
Decision No. 2026-05 of May 5, 2026 amending Decision No. 2020-01 of January 1, 2020 on the sanction procedure for failure to comply with certain obligations of monetary policy counterparties
The Governor of the Bank of France issued Decision No. 2026-05 to amend the sanction procedure for monetary policy counterparties, specifically by replacing Articles 4, 6, 10, and 12 to clarify notification requirements, contestation rights, and publication rules. The amendment mandates that sanctions be based solely on grievances where the counterparty could present observations, establishes a thirty-day working day deadline for contesting grievances, and grants the General Director of the DGSO discretion to publish sanction decisions while considering the entity's legitimate interest in protecting commercial secrets. These changes, which also involve the deletion of Articles 3 and 11, enter into force on May 13, 2026.
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