Cooperation agreements involving the ACPR
In line with both the rules and recommendations applicable at the level of the European Union (Articles 44 to 52 of Directive 2006/48 of 14 June 2006) and those applicable internationally (Principle 1 of the Core Principles for Effective Banking Supervision issued by the Basel Committee in October 2006, Principle 3 of the Insurance Core Principles issued by the International Association of Insurance Supervisors (IAIS)), the Autorité de contrôle prudentiel et de résolution (ACPR) is authorised to exchange information with counterpart authorities subject to guarantees of professional secrecy that are at least equivalent to the ACPR’s (Articles L.632-7 and L.632-13 of the French Monetary and Financial Code). Accordingly, the ACPR may conclude bilateral agreements with authorities that are not members of the European Union and not parties to the Agreement on the European Economic Area, and it may be a signatory to multilateral agreements with such authorities.
Concerning the counterparts either in EU Member States or parties to the Agreement on the European Economic Area, the ratification of written agreements is not necessary since such exchange of information is already provided for, in Directive 2006/48 for the banking sector, and in Directive 2009/138, also referred to as the "Solvency II Directive", for the insurance sector.
In addition, information may also be exchanged with authorities that are not members of the European Union and not parties to the Agreement on the European Economic Area without a written agreement (Article L.632-15 of the French Monetary and Financial Code).
Lastly, within the framework of the supervision of cross-border groups, the ACPR enters into multilateral agreements with the other competent authorities involved in the supervision of these groups (for the banking sector, these agreements are prepared on the basis of the template agreement published by the European Banking Authority).
Bilateral agreements signed with foreign authorities within States that are not party to the European Economic Area (EEA)
Memoranda of understanding concluded with the authorities of States that are not party to the EEA
Contractually bound foreign authority
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Updated on: 11/03/2022 14:34