CASE COMMENTS: REGULATIONS – FRANCE - FINANCIAL MARKETS – BANKING SUPERVISION – FINANCIAL SANCTIONS

Financial markets: The French Administrative Supreme Court upholds the €50 million sanction imposed on a banking establishment due to the inadequacy of its control mechanisms on money orders (La Banque Postale)

*This article is an automatic translation of the original article in French, provided here for your convenience. Read the original article. Article L. 562-2 C. mon. and end. provides that the Minister of the Economy and the Minister of the Interior may decide jointly, for a renewable period of six months, to freeze funds and economic resources "1° that belong to, are owned, held or controlled by natural or legal persons, or any other entity that commits, attempts to commit, facilitates, finances, incites or participates in acts of terrorism; 2° which belong to, are owned, possessed, held or controlled by legal persons or any other entity which is itself owned or controlled by the persons mentioned in 1° or knowingly acting on behalf of or at the direction of such persons". The legal

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Emmanuel Guillaume, Michaël Perche, Financial markets: The French Administrative Supreme Court upholds the €50 million sanction imposed on a banking establishment due to the inadequacy of its control mechanisms on money orders (La Banque Postale), 15 November 2019, Concurrences N° 1-2020, Art. N° 93404, pp. 176-178

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