{"id":552,"date":"2018-08-08T15:47:49","date_gmt":"2018-08-08T13:47:49","guid":{"rendered":"https:\/\/b-foncier.vaadigm.xyz\/?page_id=552"},"modified":"2018-08-08T15:48:28","modified_gmt":"2018-08-08T13:48:28","slug":"institutional-safeguards","status":"publish","type":"page","link":"https:\/\/b-foncier.vaadigm.xyz\/en\/institutional-safeguards\/","title":{"rendered":"Institutional safeguards"},"content":{"rendered":"<a class=\"chapitre\" name=\"regulatory-controls\" href=\"#\">Regulatory controls<\/a>\n<h1 class=\"ce_headline\">Regulatory controls<\/h1>\n<h4>French banking supervisory authority oversight<\/h4>\n<p>As authorized credit institutions,\u00a0<em>soci\u00e9t\u00e9s de cr\u00e9dit foncier<\/em>\u00a0are placed under the authority of the French banking supervisory authority (<em>Autorit\u00e9 de contr\u00f4le prudentiel et de r\u00e9solution\u00a0<\/em>&#8211; ACPR).<br \/>\nThe French banking supervisory authority monitors these companies by examining reports and financial statements that they are required to provide and by conducting on-site investigations.<\/p>\n<p>As a credit institution, Compagnie de Financement Foncier is legally bound to provide information about:<\/p>\n<ul>\n<li>internal control (<a href=\"\/legal-safeguards\/\">Articles 258 to 264 of the order of 3 november 2014 regarding the internal control of the banking industry<\/a>) ;<\/li>\n<li>liquidity, via the liquidity ratio and observation ratios (amended Regulation 88-01).<\/li>\n<\/ul>\n<h4>AMF control<\/h4>\n<p>In accordance with Directive No. 2003\/71 of November 4, 2003, known as the \u201cProspectus Directive\u201d, Compagnie de Financement Foncier has chosen Paris as the place of registration for its\u00a0<em>obligations fonci\u00e8res<\/em>\u00a0issues.<\/p>\n<p><a href=\"\/legal-safeguards\/\">The article L. 621-8-1<\/a>\u00a0of the French Monetary and Financial Code determines the methods and perimeter of intervention of the AMF.<\/p>\n<h4>Control of the statutory auditors<\/h4>\n<p>As a\u00a0<em>soci\u00e9t\u00e9 anonyme<\/em>\u00a0(limited liability company) under French law, Compagnie de Financement Foncier\u2019s financial statements must be audited by Statutory Auditors.\u00a0<a href=\"\/legal-safeguards\/\">Article L. 511-38\u00a0<\/a>of the Monetary and Financial Code requires that credit institutions be audited by at least two statutory auditors, employed by independent auditing firms, whereas other countries require only one.<\/p>\n<div class=\"separate\"><\/div>\n<a class=\"chapitre\" name=\"the-specific-controller\" href=\"#\">The Specific controller<\/a>\n<h1>The Specific controller<\/h1>\n<h4>Nomination<\/h4>\n<p>The Specific controller is part of the system that ensures that the highest level of control is exercised over SCFs on behalf of\u00a0<em>obligations fonci\u00e8res<\/em>\u00a0holders. Specific controllers are selected from the official list of statutory auditors and are appointed with the approval of the French banking supervisory authority. They are responsible for verifying that operational mechanisms are functioning correctly and for ensuring strict compliance with laws and regulations.<\/p>\n<h4>Responsibilities<\/h4>\n<p>Their responsibilities, as defined by law under\u00a0<a href=\"\/legal-safeguards\/\">Articles L.513-23 and 24<\/a>, and for which they have extensive investigative rights, are essentially to:<\/p>\n<ul>\n<li>ensure compliance with all regulations and legislation applicable to SCFs (<a href=\"\/legal-safeguards\/\">Articles L. 513-3\u00a0to L. 513-27<\/a>);<\/li>\n<li>verify that any assets contributed to Compagnie de Financement Foncier are consistent with its business object, as defined in\u00a0<a href=\"\/legal-safeguards\/\">Article L.\u00a0513-2<\/a>\u00a0and comply with the provisions of\u00a0<a href=\"\/legal-safeguards\/\">Articles L.\u00a0513-3 to L.513-7<\/a>;<\/li>\n<li>certify documents submitted to the French banking supervisory authority, in particular the ratios, regulatory limits and guarantee percentages at June 30, and December 31, of each year;<\/li>\n<li>prepare an annual report for executives and deliberative bodies on the results of their assignment, of which a copy must be submitted to the French banking supervisory authority;<\/li>\n<li>certify the overcollateralisation ratio for quarterly bond issue programs or issues that are equivalent to \u20ac500 million or more (<a href=\"\/legal-safeguards\/\">article R-515-13<\/a>).<\/li>\n<\/ul>\n\n","protected":false},"excerpt":{"rendered":"<p>Regulatory controls French banking supervisory authority oversight As authorized credit institutions,\u00a0soci\u00e9t\u00e9s de cr\u00e9dit foncier\u00a0are placed under the authority of the French banking supervisory authority (Autorit\u00e9 de contr\u00f4le prudentiel et de r\u00e9solution\u00a0&#8211; ACPR). The French banking supervisory authority monitors these companies by examining reports and financial statements that they are required to provide and by conducting [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":117,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-552","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/pages\/552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/comments?post=552"}],"version-history":[{"count":3,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/pages\/552\/revisions"}],"predecessor-version":[{"id":555,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/pages\/552\/revisions\/555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/media\/117"}],"wp:attachment":[{"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/media?parent=552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}