Regulatory Alerts2018-07-09
Instruction No. 2018-I-06 of July 9, 2018, repealing Instruction No. 2017-I-14 regarding forms for the appointment or renewal of effective managers and board members
The Prudential Control and Resolution Authority (ACPR) issued Instruction No. 2018-I-06 to repeal Instruction No. 2017-I-14 and establish updated procedures for notifying the appointment or renewal of effective managers and board members. The instruction mandates that regulated entities submit these notifications via specific electronic forms within 15 days of the decision, with simplified letter procedures allowed for renewals where no changes affect honorability or competence. This regulatory update aligns with recent decrees simplifying notification procedures and applies to credit institutions, investment firms, payment institutions, and other specified financial entities.
Share