French Monetary and Financial Code
In forceWhere a credit institution has not established the rules provided for in the second paragraph of article L. 312-23, or where these rules are not complied with, the persons referred to in that paragraph who have been refused access to the institution's deposit and payment account services may refer the matter to the Autorité de contrôle prudentiel et de résolution.
Such a refusal is deemed to have been made if the institution remains silent for more than two months from receipt of the complete application for access, which is sent to it by registered letter with acknowledgement of receipt or by electronic registered mail.
The referral is accompanied by a statement of the reasons why these persons consider the refusal to be contrary to the requirements resulting for the institution from the provisions of article L. 312-23. The AMF sends a copy to the credit institution, which has fifteen days to inform it of the reasons for the refusal.
The Autorité de contrôle prudentiel et de résolution gives its decision within two months of the referral. Within this timeframe, it may, if necessary, decide to implement its supervisory and sanctioning powers with regard to the institution under Chapter II of Title I of Book VI of this Code. It may also propose that the applicant apply to the Banque de France, in his name and on his behalf, for the designation of a credit institution in accordance with the procedure set out in III of Article L. 312-1.
