Regulatory Alerts2005-05-31
Instruction No. 2005-02 of May 31, 2005 on the transmission to the Banking Commission of consolidated summary documents by credit institutions, investment firms, and financial companies
The French Banking Commission issued Instruction No. 2005-02 to mandate that credit institutions, investment firms, and financial companies subject to IFRS submit consolidated summary documents prepared under International Accounting Standards. The instruction amends previous regulations to define the scope of IFRS-affected entities, introduces new reporting forms (mod. 4990i and mod. 4999i), and sets specific submission deadlines for semi-annual consolidated balance sheets and income statements. It also updates various administrative provisions, including replacing the former stock exchange authority with the AMF and adjusting deposit guarantee calculation timelines.
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