Regulatory Alerts2019-04-18
Instruction No. 2019-I-12 of April 18, 2019 amending Instruction No. 2015-I-34 regarding information to be transmitted to the ACPR in the context of acquiring or extending holdings in insurance or reinsurance undertakings
The Autorité de Contrôle Prudentiel et de Résolution (ACPR) issued Instruction No. 2019-I-12 to amend the procedural requirements for notifying the regulator about acquisitions or extensions of holdings in insurance and reinsurance entities. The amendment mandates that all relevant dossiers must be submitted electronically via the ACPR's specific authorization portal. This updated instruction entered into force on May 1, 2019, replacing the previous submission provisions and annexes of Instruction No. 2015-I-34.
PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY
Instruction No. 2019-I-12 amending Instruction No. 2015-I-34 of December 17, 2015 regarding information to be transmitted to the Prudential Control and Resolution Authority in the context of the acquisition or extension of holdings in an insurance or reinsurance undertaking or in an insurance holding company as amended by Instruction No. 2018-I-08 of July 11, 2018
The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code, in particular Articles L. 612-2 and L. 612-24; Having regard to Instruction No. 2015-I-34 of December 17, 2015 regarding information to be transmitted to the Prudential Control and Resolution Authority in the context of the acquisition or extension of holdings in an insurance or reinsurance undertaking or in an insurance holding company, as amended by Instruction No. 2018-I-08 of July 11, 2018; Having regard to the opinion of the Consultative Committee on Prudential Affairs of April 3, 2019, DECIDES
Article 1: Article 2 of the aforementioned Instruction No. 2015-I-34 is replaced by the following provisions:
"This file must be sent in electronic format to the Prudential Control and Resolution Authority by submitting it on the Authorizations portal at the following address: https://acpr-autorisations.banque-france.fr/."
Article 2: The annex to the aforementioned Instruction No. 2015-I-34 is replaced by the annex to this Instruction.
Article 3: This Instruction shall enter into application on May 1, 2019.
Paris, April 18, 2019
For the Insurance Sectoral Sub-Collegium The President, [Bernard DELAS]