French Insurance Code
In forceThe powers of the Comité Consultatif du Secteur Financier are set out in Article L. 614-1 of the Monetary and Financial Code, which reads as follows:
"Art. L. 614-1 -The Comité Consultatif du Secteur Financier is responsible for studying issues relating to relations between credit institutions, finance companies, electronic money institutions, payment institutions, investment firms and insurance companies, on the one hand, and their respective customers, on the other, and for proposing all appropriate measures in this area, in particular in the form of opinions or general recommendations.
Matters may be referred to the Committee by the Minister for the Economy, by the Autorité de contrôle prudentiel et de résolution, by organisations representing customers and by the professional organisations from which its members come. It may also be convened on its own initiative at the request of a majority of its members.
The majority of the Committee's members, in equal numbers, are representatives of credit institutions, finance companies, electronic money institutions, payment institutions, investment firms, insurance companies, general agents and insurance brokers, on the one hand, and customer representatives, on the other.
The composition of the committee, the conditions under which its members and chairman are appointed, and its organisational and operational rules are laid down by decree.
The Committee is responsible for monitoring changes in the practices of credit institutions, finance companies, electronic money institutions and payment institutions with regard to charges for services offered to their individual customers who are not acting for professional purposes.
