Office de Coordination Bancaire et Financière ( OCBF)

Please consider our preliminary comments in our attached document.
Please consider our preliminary comments in our attached document.
Please clarify the concept of Key function holder
We strongly support application of a proportionality principle however the Principle of Proportionality is very difficult to assess in its practical range and practice has demonstrated that harmonization temptation often prevailed on all the other principles…
No comment
Ref 52 & 53 please clarify how to appreciate the number of mandates to consider for the board members of large groups
Ref 70 to 72 : Though we did not proceeded to an in-depth analysis, drafted elements do not seem very compatible with the concepts of “presumption of innocence” or “prescription”. In the litany of the possible disqualifications, we would have added one item in the event of “proven moral harassing
No comments related to the proposed principles but it could be clearly stated that proportionality principle has to be applied
No comment
Our opinion is that the will of harmonization should not have to prevail on all the other principles. The draft document may lead to a standardized policy for the groups and it would be necessary to find a formulation which leaves freedoms to the local entities as long as they can show that they respect the spirit of the law. One more time “proportionality should be the essence”
Ref 124 : please clarify the concept of “substantial share holder” and “124.e” item
Ref 136.e : please rather ask for a control to be carried out upstream and that its audit proof is brought to “management body” for the periodic appraisal
Ref 150 : please weight social, legal and reputational consequences for banks
Ref 155 : please clarify “…the institution should take appropriate measures in a timely manner”
Our French law imposes a control ex post. Please, consider that local law should be maintained! Ex ante process do not appear to be very “practical” in the “theoretical” event of clogging of the operational services, this could also block an entity while waiting for its candidate's appointment..
NA
NA
No comment
No comment
No comment
No comment
Excessively complex to estimate following the unknown factor generated by the application of the principle of proportionality.
Carole Delorme d'Armaillé