Instruction No. 2016-I-08 of March 11, 2016 amending Instruction No. 2012-I-01 regarding the procedure for requesting an opinion on the appointment of statutory auditors and specific controllers

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2016-I-08 amending Instruction No. 2012-I-01 regarding the procedure for requesting an opinion on the appointment of statutory auditors and specific controllers

The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code, in particular Articles L. 513-2, L. 513-28, L. 513-23, L. 513-32, L. 612-24 as well as Articles R. 513-15, R. 513-16, R. 513-19; Having regard to the opinion of the Prudential Affairs Consultative Committee dated February 25, 2016; Having regard to Instruction No. 2012-I-01, as amended by Instruction No. 2014-I-14 of September 29, 2014 regarding the procedure for requesting an opinion on the appointment of statutory auditors and specific controllers. Decides:

Article 1
Instruction No. 2012-I-01 is hereby amended as follows:

I. The title of Instruction 2012-I-01 is amended to "Instruction regarding the procedure for requesting an opinion on the appointment of specific controllers".

II. Article 1 of Instruction No. 2012-I-01 is replaced by the following Article:
"Article 1 – This Instruction applies to real estate credit companies and housing finance companies, respectively referred to in Articles L. 513-2 and L. 513-28 of the Monetary and Financial Code."

III. Article 2 of Instruction No. 2012-I-01 is replaced by the following Article:
"When a subject to regulation intends to submit to the competent body the appointment of a specific controller, whether permanent or alternate, whether it be an initial appointment or a renewal of a previous mandate, it shall transmit to the General Secretariat of the Prudential Control and Resolution Authority, under the conditions set out in Articles R. 513-16 and R. 513-19, a request for an opinion for each proposed specific controller. The request for an opinion includes a declaratory statement accompanied by three forms, according to the model attached hereto, duly completed by each proposed specific controller, whether in the capacity of a natural person or on behalf of a company."

IV. Articles 4, 6, 7 and 10 of Instruction No. 2012-I-01 are deleted.

V. Article 3 is replaced by the following:
"Article 3 - In the event of modification of any information collected as part of the request for an opinion, including in the event of a change of the person performing the mission of specific controller on behalf of a company, the subject to regulation shall inform the General Secretariat of the Prudential Control and Resolution Authority by letter as soon as possible."

VI. Article 8 of Instruction No. 2012-I-01 is replaced by the following Article:
"Article 4 - The declaratory statement provided for in Article 2 must be signed by one of the managers of the subject to regulation within the meaning of Article L. 511-13 of the Monetary and Financial Code."

VII. Article 9 of Instruction No. 2012-I-01 is replaced by the following Article:
"Article 5 - Requests for an opinion are transmitted, to the control service responsible for the real estate credit company or housing finance company concerned, to the following postal address:
General Secretariat of the Prudential Control and Resolution Authority 1st Banking Control Directorate - 66-2753 61 rue Taitbout 75416 PARIS CEDEX 9"

VIII. Article 11 of Instruction No. 2012-I-01 is replaced by the following Article:
"Article 6 - This Instruction enters into force on April 1, 2016."

Paris, March 11, 2016
The President of the Prudential Control Authority and Resolution, [François VILLEROY de GALHAU]