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.
