French Monetary and Financial Code
In forceI. - When the Secretary General decides to call upon persons who do not belong to his departments or to those of another competent authority mentioned in Article L. 612-23 to carry out his controls, the use of such persons shall be governed by a memorandum of understanding entered into with the Autorité de contrôle prudentiel et de résolution, setting out the tasks to be performed and the conditions under which they are to be carried out.
The memorandum of understanding shall include a clause stipulating that these persons shall act and organise themselves in such a way as to avoid any conflict of interest, shall be informed of the professional secrecy obligations to which they are subject, in particular pursuant to the provisions of Article L. 612-17, and shall ensure that information obtained in the performance of the tasks entrusted to them is used only for the performance of those tasks.
The Secretary General shall ensure that these persons have the necessary skills to perform all their duties.
II. - When the Secretary General decides to call upon other authorities or control bodies responsible in France for missions that complement his own missions to carry out his controls, a memorandum of understanding sets out the conditions under which these missions are carried out.
III. - The authority may also call upon authorities exercising equivalent functions in other States and their staff to carry out its controls. The conditions under which such controls are carried out may be laid down in the cooperation agreements provided for in Articles L. 613-20-2 and L. 633-5 and in the agreements provided for in Article L. 632-15, or by special agreements.
IV. - For the application of II and III, the Secretary General shall ensure that the framework imposed on persons in charge of controls offers guarantees equivalent to those applicable to his own staff.
