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Monetary and Financial Code – Legislative Section
b) In Article L. 531-10, the words and the references: “or
an entity referred to in Article L. 532-18 or in Article L. 53218-1” are deleted.
Subsection 2 Conditions of admission to the profession
Article L. 765-10. − Chapter II of Part III of Book V, with
the exception of Articles L. 532-16 to L. 532-27, is applicable
in the Wallis and Futuna Islands, with the following
adaptations:
a) In the last paragraph of Article L. 532-1, the words:
“have either been authorised in another Member State of the
European Community or which do not come under the law of
one of those States” are replaced by the words: “have been
approved in a State other than France”;
b) In Article L. 532-5, the words: “and have the benefit of
the provisions of Articles L. 532-23 to L. 532-25” are deleted.
Subsection 3 Obligations of investment service providers
Article L. 765-11. − Chapter III of Part III of Book IV is
applicable in the Wallis and Futuna Islands.
Articles L. 573-1 to L. 573-7 also apply there.
analysing data and information and evaluating, approving,
issuing and re-examining credit ratings.
Article L. 765-11-4. − Articles L. 545-1 to 545-7 are
applicable in the Wallis and Futuna Islands with the following
adaptations:
a) In Article L. 545-1, the words: “within the meaning of
subparagraph 25 of paragraph 1 of Article 4 of Directive
2004/34/EC of 21 April 2004” are deleted;
b) In Article L. 545-5, the words: “in Metropolitan France
or in the overseas départements” are replaced by the words: “in
France”;
c) For the purposes of Articles L. 545-1 to L. 545-7, the
term “bound agent” shall mean any individual or legal entity
who/which, under the entire and unconditional responsibility of
a sole and unique investment service provider on behalf of
which he/it acts, promotes investment services to clients, inter
alia potential clients, receives and forwards the clients'
instructions or orders relating to financial instruments or
investment services, places financial instruments, or provides
clients, inter alia potential clients, with advice on said
instruments or services.
Article L. 765-11-5. − Articles L. 546-1 to L. 546-4 are
applicable in the Wallis and Futuna Islands. For the
purposes of these provisions, in Article L. 546-1, the words:
“the sole register referred to in Article L. 512-1 of the
Insurance Code” are replaced by the words: “the register
referred to in Article 1 of Act No. 2005-1564 of 15
December 2005 introducing various provisions to bring
French law into line with Community law in the field of
insurance”.
Section 4 Other service providers
Section 5 Miscellaneous property intermediaries
Article L. 765-11-1. − Articles L. 541-1 to L. 541-7 and
Articles L. 541-8-1 and L. 541-9, as well as Articles L. 573-9
to L. 573-11, are applicable in the Wallis and Futuna Islands.
Article L. 765-11-2. − Article L. 542-1 is applicable in the
Wallis and Futuna Islands.
Art. L. 765-11-2-1. − Article L. 543-1 is applicable in the
Wallis and Futuna Islands, with deletion of the words: “the
management companies of the forestry investment companies”.
Article L. 765-11-3. − Articles L. 544-1 to L. 544-6 are
applicable in the Wallis and Futuna Islands.
For the purposes of these provisions:
In the first paragraph of Article L. 544-4, the words:
“within the meaning of Article 22 of Regulation No.
1006/2009 of the European Parliament and of the Council
of 16 September 2009 on the credit rating agencies” are
deleted.
The term “Credit rating agency” shall mean any legal
entity whose activities include the issuing of credit ratings
on a professional basis, the term “credit rating” shall mean
any opinion issued through the application of a well-defined
and well-established classification system that uses various
rating categories indicative of the credit status of an entity,
a debt, a financial obligation, a debt security, preference
shares or other financial instruments, or of an issuer of
such a debt, financial obligation or debt security, or of such
preference shares or such a financial instrument, and the
term “credit rating service” shall mean the activities of
Article L. 765-12. − Part V of Book V is applicable in the
Wallis and Futuna Islands.
Article L. 573-8 also applies there.
Section 6 Obligations relating to the prevention
of money laundering
Article L. 765-13. − I. – Part VI of Book V, as well as
Articles L. 574-1 to L. 574-4, are applicable in the Wallis and
Futuna Islands, as provided for in paragraph II.
II. – 1 In Articles L. 561-2 and L. 561-20, the references
to the Insurance Code, the Mutuality Code and the Social
Security Code are replaced by references to locally
applicable provisions having the same object;
2 In subparagraph 8 of Article L. 561-2, the references in
Article 1 of Act No. 70-9 of 2 January 1970 regulating the
conditions of practise of the activities pertaining to certain
transactions in real-estate and goodwill, excluding exchanges,
letting or sub-letting, seasonal or otherwise, whether
unfurnished or furnished, are replaced by references to locally
applicable provisions having the same object;
3 In Article L. 561-14-2, the references to Article 537 of
the Code Général des Impôts and to Articles L. 83, L. 85, L. 87
and L. 89 of the Livre des Procédures Fiscales are replaced by