2025-04-17
The Prudential Control and Resolution Authority's Insurance Sector Sub-Committee issued Decision No. 2025-C-15 to formally withdraw the regulatory approval for the WAKAM Alt 23 compartment of the WAKAM Alt common securitization fund. This decision revokes the authorization previously granted to France Titrisation and BNP Paribas to conduct insurance risk securitization operations for Wakam in France. The decision is scheduled for publication in the Official Journal of the French Republic to ensure legal enforceability.
NOR: ACPP2509042S Decision No. 2025-C-15 of April 16, 2025 on the withdrawal of approval for a compartment of a common securitization fund
THE INSURANCE SECTOR SUB-COMMITTEE
Having regard to Delegated Regulation (EU) No 2015/35, and in particular Article 318 thereof;
Having regard to the Monetary and Financial Code, and in particular Articles L. 214-189 and R. 214-239 thereof;
Having regard to the documents in the file,
DECIDES
Article 1: The withdrawal of approval for the WAKAM Alt 23 compartment of the WAKAM Alt common securitization fund, co-owned by FRANCE TITRISATION (SIREN: 353 053 531), whose registered office is located at Paris (75009), 1, boulevard Haussmann, and BNP PARIBAS (SIREN: 662 042 449), whose registered office is located at Paris (75009), 16, Boulevard des Italiens, is approved. This approval was granted to conduct in France the securitization operations of the insurance risks of the company WAKAM (SIREN: 562 117 085), whose registered office is located at Paris (75002), 120-122, rue Reaumur.
Article 2: This decision shall be published in the Official Journal of the French Republic.
For the Insurance Sector Sub-Committee
The President, Jean-Paul FAUGÈRE