Enforcement and protective measures

Enforcement measures
  • Warnings
  • Recovery programs
  • Appointement of a provisonal administrator
  • Protective measures 

 

Protective measures
  • Placement under special supervison 
  • Limitation ou temporary prohibition of certain activities 
  • Suspension, restriction or temporary prohibition of the free disposal of some or all of the supervised entity's assets 
  • Order to suspend or limit the payment of surender values, the right to execute arbitrage transactions, the payment of policy loans or the right to opt-out 
  • Transfer, without consultation, of all or part of a portfolio of insurance contracts or mutual insurance payments, and of all or part of a protolio of loans or deposit of a credit institution
  • Prohibition or limitation on the dividend payments to shareholders or returns on membership shares
  • Suspension of one or more senior executives
  • Suspension of persons referred to in Article L. 612-23-1 (senior executives, members of the board of directors or supervisory board or any other body performing equivalent functions, members of the management board) where they no longer meet the fitness and property, competence and experience criteria required by their position and where such steps are urgently required to meet the needs of sound and prudent management 
  • Limitation or suspension of the execution of certain transactions by a person whose actions could affect financial stability and in certain emergency situations provided for under European provisons 

 

Updated on: 08/14/2017 15:05