#FCPT1521068ADecree of September 11, 2015 on Preventive Resolution Plans
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This law details the information required from entities for creating or updating preventive resolution plans. It requires detailed disclosure regarding organizational structure, ownership, critical activities, liabilities, financial exposures, and risk management systems. The regulation applies in regions like New Caledonia, French Polynesia, and the Wallis and Futuna Islands.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Entities must provide detailed organizational and ownership information.
- Liabilities and critical financial activities need clear mapping and disclosure.
- Applies also to overseas French territories like New Caledonia and French Polynesia.
Obligations
What this law requires
Provide detailed description of legal and organizational structure, including all subsidiaries, branches, and group entities with complete list of all legal entities belonging to the group
Disclose identity of all direct holders of capital securities and ownership titles, including voting rights held in general assemblies of all group entities
Provide detailed description of all liabilities including numerical breakdown of commitments by maturity, distinguishing between privileged creditors, unsecured creditors, and subordinated creditors
Create and maintain comprehensive mapping of critical functions and fundamental activities identifying principal assets and liabilities associated with these functions and activities
Provide detailed inventory and description of IT infrastructure and information systems, including risk management systems, accounting systems, and regulatory reporting systems, with mapping of entities participating in these systems