Regulatory Alerts2024-04-19
Added · Updated
Instruction No. 2024-I-03 of April 19, 2024, on Credit Manager Approval Applications and Declarations
The Prudential Control and Resolution Authority (ACPR) issued Instruction No. 2024-I-03 to establish the procedural requirements for credit managers and credit buyers seeking approval or declaring changes under the Monetary and Financial Code. The instruction mandates the submission of specific electronic forms for initial applications, qualified shareholder notifications, management appointments, and cross-border activity notifications within strict statutory deadlines. It further details the obligation to report any modifications to the manager's situation, including organizational changes, fund protection measures, and contact details, ensuring ongoing regulatory compliance.
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