Procedure under the freedom of establishment or the freedom to provide services
Before pursuing activities in France under the freedom of establishment or the freedom to provide services, you must:
1. Prepare a package for a notification under the freedom of establishment or a declaration under the freedom to provide services
|Notification under freedom of establishment||Declaration under freedom to provide service|
Electronic money institution
|Use of an electronic money distributor||form|
|Use of a payment services agent||form|
2. Post the completed package on the Authorisation Portal : https://acpr-autorisations.banque-france.fr/
Reviewing the package
The ACPR assesses the completeness, accuracy and consistency of the package and may request additional information to complete its review.
The ACPR or, where applicable, the ECB will examine the package and decide whether to forward it to the competent authority of the Host State.
You will receive a letter informing you of this decision. If a favourable decision is granted, the notification package will also be sent to the competent authority of the Host State.
Changes to information provided in connection with a notification under the freedom of establishment or declaration under the freedom to provide services
If changes are made to the information provided in connection with a notification under the freedom of establishment or a declaration under the freedom to provide services, you must provide notification of these changes to the ACPR, and, where applicable, to the competent authority of the Host State at least one month before making the change.
Appointment of a senior manager to a European branch
If you wish to establish a branch in another EU Member State or in another State party to the EEA agreement, you must send the ACPR the names of at least two senior managers who will be in charge of running the branch along with details on their professional experience. Please include the following documents:
- signed letter of appointment specifying the date on which the senior manager is to take up his/her position;
- a fitness statement.
- a current, dated CV in French, which should give the senior manager’s address, date and place of birth and nationality.
The ACPR must be informed of any subsequent change of senior manager according to the same procedure.
Use of an agent, tied agent or distributor
An investment firm may wish to use a tied agent located in another European country.
A payment institution or an electronic money institution may use one or more agents located in another European country.
An electronic money institution may decide to use one or more distributors located in another European country.
An agent is a natural person or a legal entity that provides payment services in the name of one or more payment institutions. The institution giving the appointment remains fully liable towards third parties for the actions of any agent appointed by it. The agent is required to inform service users of its status as agent from their first entry into contact.
In this case you must send a hardcopy notification to the ACPR. Following a review, the ACPR will decide to register or refuse to register the agent. The institution will receive a letter informing it of the decision taken by the ACPR. At the same time, the ACPR will send the notification package to the supervisory authority in the Host Country. Use of an agent is conducted under the freedom of establishment regime.
The ACPR must be informed of any removal of an agent or discontinuation of use of a distributor or tied agent.