Regulatory Alerts2020-03-03
Instruction No. 2020-I-01 of February 21, 2020, on Documents to be Produced for Notification to the ACPR of a Project to Provide Professional Pension Institution Services in Another EU or EEA Member State
The French Prudential Supervision and Resolution Authority (ACPR) issued Instruction No. 2020-I-01 to establish the specific documentation requirements for professional pension institutions notifying their intent to provide services in other EU or EEA member states. The instruction mandates that these notifications, including any substantial modifications to service conditions, be submitted electronically via the ACPR's authorization portal. This regulatory framework ensures compliance with the Monetary and Financial Code and the Insurance Code regarding cross-border service provision.
PRUDENTIAL SUPERVISION AND RESOLUTION AUTHORITY
Instruction No. 2020-I-01 regarding the documents to be produced in the context of notification to the Prudential Supervision and Resolution Authority of a project to provide services of a professional pension institution within another Member State of the European Union or another State party to the agreement on the European Economic Area
The Prudential Supervision and Resolution Authority, Having regard to the Monetary and Financial Code, in particular Articles L. 612-2 and L. 612-24; Having regard to the Insurance Code, in particular Articles L. 382-4 and R. 382-4; Having regard to the Mutual Code, in particular Article L. 214-7; Having regard to the Social Security Code, in particular Article L. 942-7; Having regard to the opinion of the Consultative Committee on Prudential Affairs of February 6, 2020, DECIDES
Article 1:
Pursuant to Articles L. 382-4 of the Insurance Code, L. 214-7 of the Mutual Code, and L. 942-7 of the Social Security Code, any additional professional pension fund mentioned in Article L.381-1 of the Insurance Code, any mutual or union of additional professional pension mentioned in Article L. 214-1 of the Mutual Code, and any additional professional pension institution mentioned in Article L. 942-1 of the Social Security Code, planning to provide services of a professional pension institution on the territory of another Member State of the European Union or another State party to the agreement on the European Economic Area, shall notify the Prudential Supervision and Resolution Authority, under the conditions provided for in Article R. 382-4 of the Insurance Code, for each provision of service involving a distinct subscribing body. This notification shall be accompanied by the elements whose list is set out in the annex to this instruction.
Article 2: The notification file must be sent in electronic format to the Prudential Supervision and Resolution Authority by depositing it on the Authorizations portal, located at the following address: https://acpr-autorisations.banque-france.fr/.
Article 3: Any project for a substantial modification of the nature or conditions of exercise of activities shall be notified to the Prudential Supervision and Resolution Authority, accompanied by the elements mentioned in the annex to this instruction that are affected by the project for modification, in accordance with paragraph II of Article R. 382-4 of the Insurance Code.
Article 4: This instruction shall enter into application the day following its publication.
Paris, February 21, 2020
For the Sectoral Sub-College of Insurance The President, [Bernard DELAS]