- 4th European Directive, which was transposed into French law by the Ordonnance du 1er décembre 2016 for the legislative components.
- (EC) Regulation No 2015/847 of 20 May 2015 on information accompanying transfers of funds
Relevant legislation for AML-CFT European-level regulatory references
A. Legislation applicable to both the banking and the insurance sectors
The Ordonnance du 1er décembre 2016 transposes the legislative part of the Fourth European Directive into the French financial sector's AML-CFT requirements. Further regulatory acts are expected, as they are required by this decree to complete the transposition.
- Articles L.561-2 et seq. of the CMF;
- Articles R. 561-1 et seq. of the CMF;
- Arrêté du 2 septembre 2009 pursuant to Article R.561-12 of the CMF establishing customer and business relationship information for the purposes of assessing the risks of money laundering and terrorist financing;
- list of equivalent third countries provided for in point 2°, part II of Article L. 561-9 of the CMF (Arrêté du 27 juillet 2011);
- Arrêté du 12 février 2010 pursuant to the second paragraph of Article 238-0 A, point 1, of the French General Tax Code relating to non-cooperative countries in the light of the transparency and exchange of information in tax matters, as amended by the following decrees: Arrêté du 14 avril 2011, Arrêté du 4 avril 2012 and Arrêté du 8 avril 2016;
B. Banking sector-specific legislation
- CRBF (the French Committee on Banking and Financial Regulation) Regulation No 2002-01 of 18 April 2002 (cheques);
- The Arrêté du 3 novembre 2014 concerning the internal control of undertakings in the banking, payment services and investment sector subject to the supervision of the Autorité de Contrôle Prudentiel et de Résolution
NB: The decree lays down a framework for internal control reports:
- Letter from Mr Fernandez-Bollo to AFECEI (the French association of credit institutions and investment firms).
- Reporting framework: French version (word – pdf format) and English version (word – pdf format)
- A marked-up version of the reporting framework document is also available.
- Arrêté du 2 mai 2013 on the prudential regulation of electronic money institutions.
C. Insurance sector-specific legislation
- Articles A. 310-5 et seq. of the French Insurance code;
- Article A.114-2 of the French Mutual Code;
- Article A. 951-3-3 of the French Social Security Code.
D. Legislation specific to bureaux de change
Updated on: 02/02/2023 17:30