Regulatory Alerts2015-12-01
Instruction No. 2015-I-25 of December 1, 2015 repealing Instruction No. 2005-04 on the supplementary supervision of financial conglomerates
The Prudential Supervision and Resolution Authority issued Instruction No. 2015-I-25 to formally repeal Instruction No. 2005-04 regarding the supplementary supervision of financial conglomerates. This regulatory change aligns national oversight with the prudential requirements established by EU Regulation No. 575/2013 and the November 2014 decree on financial conglomerates. The repeal becomes effective immediately upon the publication of the instruction.
PRUDENTIAL SUPERVISION AND RESOLUTION AUTHORITY
Instruction No. 2015-I-25 repealing Instruction No. 2005-04 on the supplementary supervision of financial conglomerates
The Prudential Supervision and Resolution Authority, Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms; Having regard to the Decree of 3 November 2014 on the supplementary supervision of financial conglomerates; Having regard to the opinion of the Prudential Affairs Consultative Committee dated 24 November 2015; Decides:
Article 1 Instruction No. 2005-04 on the supplementary supervision of financial conglomerates is hereby repealed.
Article 2 This repeal shall apply from its publication.
Paris, 1 December 2015 The President of the Prudential Supervision Authority and Resolution, [François VILLEROY de GALHAU]