# French Prudential Supervision and Resolution Authority

The French Prudential Supervision and Resolution Authority (French: Autorité de contrôle prudentiel et de résolution, ACPR), formerly known as Prudential Supervision Authority (French: Autorité de contrôle prudentiel, ACP), is a financial regulatory authority within the Bank of France, which exercises prudential supervision of regulated French financial firms such as banks and insurance companies. Since 2014, it has been France's national competent authority within European Banking Supervision.

## History
### Background

A number of financial supervisory authorities were created in France over the years and with various mandates. These included:
* the Bank Supervisory Commission (French: Commission de Contrôle des Banques, CCB), established in 1941 and renamed in 1984 the Banking Commission [fr] (French: Commission bancaire)
* the Insurance Supervisory Commission (French: Commission de contrôle des assurances, CCA, est. 1990) and the Mutual Insurance and Health Care Supervisory Commission (French: Commission de contrôle des mutuelles et des institutions de prévoyance, CCMIP, est. 1990), merged by law of 1 August 2003 to form the Commission de contrôle des assurances, des mutuelles et des institutions de prévoyance (CCAMIP), renamed in 2005 as Autorité de Contrôle des Assurances et des Mutuelles [fr] (ACAM, lit. 'Insurance and Mutuals Supervisory Authority')
* the Committee for Credit Institutions and Investment Companies [fr] (French: Comité des établissements de crédit et des entreprises d'investissement, CECEI, est. 1984) and Committee for Insurance Companies (French: Comité des entreprises d'assurance, CEA, est. 2003), separate licensing authorities, respectively, for credit institutions and investment services providers and for insurers

### Formation and development

In January 2010, the ACP was formed by executive order through the merger of the Banking Commission, ACAM, and CECEI.
A new executive order in July 2013 granted it resolution authority, in the context of the formation of the European Single Resolution Mechanism, and correspondingly changed its name from ACP to ACPR.
In 2017, the ACPR lost its previous status of independent administrative authority (Article 24 of Law 2017-55 of 20 January 2017), and thus became more directly integrated into the Bank of France.
From July 2020 to April 2021, the ACPR conducted the first assessment of financial risks resulting from climate change, which included 22 insurance organizations and 9 banking groups.

## Operations

The ACPR's stated purposes include supervision and control, preservation of the stability of the financial system and protection of clients, insured participants and beneficiaries who are subject to its control. The ACPR have supervisory powers, the power to impose administrative enforcement measures, and disciplinary powers with respect to entities under its jurisdiction. It may also make public any information that it deems necessary to discharge its duties.
The ACPR has three different decision-making bodies: the Supervisory College, the Resolution College and the Sanctions Committee, as well as some consultative bodies, such as the Audit Committee and the Scientific Consultative Committee. It occasionally launches public consultations on different issues, as was the case in 2013, when it drafted the regulations for crowdfunding following a public consultation launched alongside the Autorité des marchés financiers and the French Ministry of the Economy and Finance.

## Leadership

The ACPR's chairman is the Governor of the Bank of France. The Secretary-General (French: secrétaire général) is the ACPR's chief executive officer. The successive Secretaries-General of ACP, then ACPR have been:
* Danièle Nouy (March 2010 - December 2013), previously Secretary-General of the Banking Commission since 2003
* Edouard Fernandez-Bollo (January 2014 - September 2019)
* Dominique Laboureix (October 2019 - 2023)
* Nathalie Aufauvre (2023–present)