Subsection 2: Freedom of establishment and freedom to provide services within the territory of States party to the Agreement on the European Economic Area

I. - Within the limits of the activity of issuing and managing electronic money that it is authorised to carry on in the territory of its home country other than France, and depending on the authorisation it has received there, any electronic money institution may carry on its activity in mainland France, Guadeloupe, French Guyana, Martinique, La Réunion, Mayotte or Saint-Martin, under the freedom of establishment or the freedom to provide services, provided that the Autorité de contrôle prudentiel et de résolution has been informed by the issuer of the electronic money, Martinique, La Réunion, Mayotte or Saint-Martin, under the freedom of establishment or the freedom to provide services, provided that the Autorité de contrôle prudentiel et de résolution has been informed by the competent authority of the home State in accordance with the provisions of the delegated act adopted pursuant to Article 28.5 of Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market.

II. - Within a period set by regulation following receipt of all the information referred to in I, the Autorité de contrôle prudentiel et de résolution shall assess that information and, where appropriate, communicate to the home state authorities any adverse assessment or relevant information in relation to the pursuit of the electronic money issuing and management activities envisaged by the electronic money institution concerned under the freedom of establishment or the freedom to provide services, and in particular any concerns relating to a risk of money laundering or terrorist financing in connection with the proposed establishment of a branch or use of a person for the distribution, within the meaning of Article L. 525-8, of electronic money.

III. - In order to supervise the electronic money institutions referred to in I, the competent authorities of their home country may, after informing the Autorité de contrôle prudentiel et de résolution in advance, carry out on-site inspections of their branches established in mainland France, Guadeloupe, French Guiana, Martinique, Reunion Island, Mayotte or Saint-Martin or of the persons established in this territory whom they use to distribute electronic money within the meaning of Article L. 525-8.

These branches and persons are subject to the professional secrecy requirements set out in article L. 526-35.