• Decree n°2013-372 dated 2 May 2013 for the implementation of Law n°2013-100 dated 28 January 2013 containing various provisions to ensure the compliance of French law with European law on economic and financial matters (J.O n°0104 dated 4 May 2013) creates provisions relating to the issuance and the administration of electronic money and to the providing of payment services by the EMI. In particular, this Decree sets out the limit allowing to benefit from the less restrictive prudential regime and it sets out the three-month period given to the French Prudential Supervisory Authority (Autorité de Contrôle Prudentiel – "ACP") to inform the relevant institutions when they do not comply with the conditions concerning the EMI's activity.

This Decree has come into force on 5 May 2013.

  • Order dated 2 May 2013 on the prudential regulation of the EMI (J.O n°0104 dated 4 May 2013) sets out the prudential regime of the EMI. The Order specifies for example the conditions of the granting and withdrawal of the licence of the ACP, the list of transactions relating to the EMI that are subject to (i) prior authorization, (ii) notification ensuring a right to object, or (iii) declaration, to the ACP and the means to protect the funds of the EMI's clients.

This Order has come into force on 5 May 2013.

  • Decree n°2013-383 dated 6 May 2013 for the implementation of Law n°2013-100 dated 28 January 2013 containing various provisions to ensure the compliance of French law with European law on economic and financial matters (J.O n°0107 dated 8 May 2013) specifies the conditions of the exemption set forth in Article L.525-5 of the Monetary and Financial Code as well as the limit of electronic money allowing certain EMI to benefit from a less restrictive prudential regime.

This Decree has come into force on 9 May 2013.

  • Decree n°2013-384 dated 7 May 2013 defining the conditions and terms of the appointment of the permanent ad hoc representative mentioned in VI of Article L.561-3 of the Monetary and Financial Code (J.O n°0107 dated 8 May 2013) regulates the intervention of that representative whose appointment is decided by the ACP (i) in the payment institutions or EMI providing payment services if the activity's annual volume in France exceeds 3 million euros; (ii) in the EMI if the annual amount of electronic money in circulation in France exceeds 5 million euros; or, (iii) if such thresholds are not reached, if the ACP notices insufficiencies in the implementation in France of the anti-money laundering and counter terrorist financing system.

This Decree has come into force on 9 May 2013.

  • Decree n°2013-385 dated 7 May 2013 setting out the conditions and terms of providing information relating to the funds transfer transactions mentioned in Article L.561-15-1 of the Monetary and Financial Code (J.O n°0107 dated 8 May 2013) sets forth the conditions in which the EMI are obliged to provide TRACFIN with certain information.

This Decree will come into force on 1st October 2013, with the exception of the provisions of 2° of Article D.561-31-1 of the Monetary and Financial Code that will come into force on 1st April 2014.