The Prudential and Resolution Supervisory Authority (ACPR: ‘l’Autorité de Contrôle Prudentiel et de Résolution’) is the French supervisory body for banks and insurance companies.
Created by the Order of 21 January 2010 and set up in March 2010, the ACPR is the product of the coming together of certifying authorities (CEA – The Committee of Insurance Companies - and CECEI - The Committee of Credit Houses and Investment Companies) and monitoring bodies (the Banking Commission and ACAM – the Controlling Authority for insurance companies and mutual health schemes) banking and insurance sectors.
Its creation meets the objective of putting in place a powerful supervisory authority, possessing an overall vision of the financial sector (banking and insurance). The ACPR is in charge of certifying and controlling banking establishments and insurance bodies.
Its main mission is to be a watchdog for the preservation of financial stability and the protection of customers in banks, insured parties and the beneficiaries of insurance contracts.
It equally represents, within its field of action, France on an international level. The ACPR is an independent authority, supported by the Bank of France. Its organisation and workings have, as their aim, to ensure that all the necessary skills for accomplishing its missions are made effective, guaranteeing quick responses, efficiency and consistency in decision-making. More than 1,000 agents are, to this end, mobilised within ACPR so as to ensure the good working of the French system of control.
Franco-Monegasque Conventions
- Decree n° 2010-1599 of 20 December 2010 implementing by its publication the agreement in the form of an exchange of letters between the Government of the French Republic and the Government of the Principality of Monaco concerning banking regulation applicable to the Principality of Monaco and implementing the abrogation of the agreement, in the form of an exchange of letters, dated the 27 November 1987, modifying the exchange of letters of the 18 May 1963 regarding bank regulation in the Principality of Monaco, signed in Paris and Monaco on the 20 October 2010.
- Decree n° 2003-456 of the 16 May 2003 implementing by its publication the agreement in the form of an exchange of letters between the Government of the French Republic and the Government of the Principality of Monaco concerning the harmonized surveillance of credit houses in the principality, in the form of branches or subsidiaries, signed in Paris and Monaco on the 6 April and the 10 May 2001.
- Decree n° 88-777 of the 22 June 1988 implementing by its publication the agreement in the form of an exchange of letters dated the 27 November 1987, modifying the exchange of letters of the 18 May 1963.
- Decree n° 63-900 of the 29 August 1963 implementing by its publication the agreement in the form of an exchange of letters between France and Monaco of the 18 May 1963 regarding banking regulation in the Principality.
- Decree n° 45-1106 of the 16 May 1945 implementing by its publication franco-Monegasque conventions concerning exchange controls, the repression of tax fraud, illicit profits and price-fixing.
