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Monetary and Financial Code – Legislative Section
Art. L. 614-2. Any proposed government bill or order and
any Community regulation or directive relating to the insurance
sector, the banking sector or investment firms shall be referred
to the Comité Consultatif de la Législation et de la
Réglementation Financières by the Minister for the Economy
for an opinion before it is examined by the Council of the
European Communities, save for the texts that relate to the
Autorité des Marchés Financiers or which come within its area
of competence.
Draft decrees or orders, other than individual measures,
relating to the same areas may be adopted only after the
opinion of the Comité Consultatif de la Législation et de la
Réglementation Financières has been sought. Its opinion shall
also be sought by the Minister for the Economy concerning
requests for approval of the conduct of business rules referred
to in Article L. 611-3-1. An unfavourable opinion from the
Comité on said draft documents cannot be disregarded until the
Minister for the Economy has requested a second deliberation
by said Comité.
The composition of the Comité, the conditions of
appointment of its members and of its Chairman, as well as its
organisational and operating rules, are determined by decree.
Amended by Act No. 2003-706 of 1 August 2003 Art. 22 I, Art. 26
I, Art. 48 II 3 Official Journal of 2 August 2003
Amended by Order No. 2008-1271 of 5 December 2008 Art. 1
Official Journal of 6 December 2008
Amended by Order No. 2009-866 of 15 July 2009 Art. 15 Official
Journal of 16 July 2009
Art. L. 614-3. − The salaried employees who are members
of the Comité Consultatif du Secteur Financier or of the Comité
Consultatif de la Législation et de la Réglementation
Financières shall be given sufficient time to ensure that they are
able to prepare for, travel to and participate in the meetings.
Said time shall be treated as effective working time for the
calculation of social-security benefit entitlement. Said
employees must inform their employer of their appointment,
and of each meeting, as soon as they receive the notice to
attend.
Amended by Act No. 2003-706 of 1 August 2003 Art. 22 I, Art. 27
I, Art. 48 II 3 Official Journal of 2 August 2003
Arts. L. 614-4 to L. 614-6 repealed by LSF 2003-706 Art. 48)
(Subsection 2 Comité Consultatif repealed by Article 48 LSF 2003706 reference replaced by the reference to the Comité Consultatif du
Secteur Financier LSF, Art. 46, V, 3)
(Section 2 Haut Conseil du Secteur Financier Public et Semi-Public
Repealed by decree No. 2008-1029 of 9 October 2008 Official Journal
of 10 October 2008 and decision No. 2008-212 L of 18 September 2008
Art. L. 614-7 repealed)
Chapter V Other institutions
Inserted by Act No. 2006-387 of 31 March 2006 Art. 26 Official
Journal of 1 April 2006
Section 1 Government representatives and
supervision of financial activities
Section numbering changed by Order No. 2009-866 of 15 July
2009 Art. 15 Official Journal of 16 July 2009
Art. L. 615-1. - The Minister for the Economy shall appoint
a Government representative to any central body referred to in
Article L. 511-30 or to any credit institution to which the State
has entrusted the exercise of State authority or a public interest
mission.
A decree issued following consultation with the Conseil
d'Etat determines the implementing provisions of this article. It
specifies, inter alia, the circumstances in which the
Government representative may challenge the decisions of the
central body's deliberative bodies or those of the credit
institution regarding the implementation of the exercise of State
authority or of the public-interest mission which have been
entrusted to him.
Inserted by Act No. 2006-387 of 31 March 2006 Art. 26 Official
Journal of 1 April 2006 (formerly Article L.511-32 II)
Section 2 The Banking Mediation Commission
Inserted by Order No. 2009-866 of 15 July 2009 Art. 15 Official
Journal of 16 July 2009
Art. L. 615-2. − The Banking Mediation Commission is
responsible for examining the mediators' reports and drawing
up a banking mediation report each year which is sent to the
Comité Consultatif du Secteur Financier. Said Comité is also
tasked with laying down the terms and conditions under which
the mediators' duties are performed, with particular emphasis
on ensuring their independence. It is informed of the terms, and
the amount, of the allowances and compensation paid to
mediators by credit institutions or payment institutions. Said
Comité may send recommendations to credit institutions,
payment institutions and mediators.
The Banking Mediation Commission is chaired by the
Governor of the Banque de France or his representative. The
other members are appointed by order of the Minister for the
Economy, with seat allocation as follows: one individual
proposed by the Collège de Consommateurs et Usagers du
Conseil National de la Consommation (Board of Users and
Consumers of the National Consumers Council), one individual
proposed by the Association Française des Établissements de
Crédit et des Entreprises d’Investissement (French Association
of Credit Institutions and Investment Firms) and two
individuals chosen on account of their expertise.
A decree issued following consultation with the Conseil
d'Etat determines the implementing provisions of this article.
Inserted by Order No. 2009-866 of 15 July 2009 Art. 15 Official
Journal of 16 July 2009
PART II THE AUTORITE DES
MARCHES FINANCIERS
(Title replaced by LSF 2003-706)