2008/94/EC: Commission Decision of 25 January 2008 updating Annex A to the Monetary Agreement between the Government of the French Republic, on behalf of the European Community, and the Government of His Serene Highness the Prince of Monaco
Date: 2008-01-25
Institutions: European Commission
Subjects: France, Monaco, application of EU law, economic offence, financial institution, financial legislation, fraud, insurance company, monetary agreement, publication of accounts

L 31/34

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Official Journal of the European Union

5.2.2008

COMMISSION

COMMISSION DECISION

of 25 January 2008

updating Annex A to the Monetary Agreement between the Government of the French Republic,
on behalf of the European Community, and the Government of His Serene Highness the Prince of
Monaco

(2008/94/EC)

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty
Community,

establishing the European

Having regard to the Monetary Agreement of 24 December
2001 between the Government of the French Republic, on
behalf of the European Community, and the Government of
His Serene Highness the Prince of Monaco (1), and in particular
Article 11(3) thereof,

Whereas:

(1)

the

certain Community acts

Article 11(2) of the Monetary Agreement between the
Government of the French Republic, on behalf of the
European Community, and the Government of His
Serene Highness the Prince of Monaco (hereinafter ‘the
Monetary Agreement’)
Principality of
requires
Monaco to apply the measures adopted by France to
concerning the
implement
activity and prudential supervision of credit institutions
and the prevention of systemic risks to payment and
securities settlement systems. Those acts are listed in
Annex A to the Agreement. That annex was
last
updated by Commission Decision 2006/558/EC (2). A
number of acts in Annex A have been amended and
the amending acts should be included in that Annex. A
number of new Community acts falling within the scope
of Article 11(2) of the Monetary Agreement have been
adopted and should also be included in Annex A.

(3)

(4)

Directives 78/660/EEC on the annual accounts of certain
types of
companies, 83/349/EEC on consolidated
accounts, 86/635/EEC on the annual accounts and
consolidated accounts of banks and other financial insti-
tutions and 91/674/EEC on the annual accounts and
insurance undertakings (3)
consolidated accounts of
concerns the activity and supervision of credit
insti-
tutions and amends Council Directive 86/635/EEC (4),
which is already in Annex A. It therefore falls within
the scope of Article 11(2) of the Monetary Agreement
and should also be included in Annex A.

It

firms

institutions

Directive 2006/49/EC of the European Parliament and of
the Council of 14 June 2006 on the capital adequacy of
(recast) (5)
investment
and credit
insti-
concerns the activity and supervision of credit
tutions.
therefore falls within the scope of Article
11(2) of the Monetary Agreement and should also be
included in Annex A. Directive 2006/49/EC moreover
repeals Council Directive 93/6/EEC (6), as amended, inter
alia, by Directive 2002/87/EC of the European Parliament
and of the Council (7) and Directive 2004/39/EC of the
European Parliament and of the Council (8), which should
therefore be removed from Annex A.

services

Council Directive 93/22/EEC of 10 May 1993 on
field (9) was
investment
repealed by Directive 2004/39/EC, as amended by
Directive 2006/31/EC (10),
and should therefore be
removed from Annex A.

securities

in the

(2)

Directive 2006/46/EC of the European Parliament and of
the Council of 14 June 2006 amending Council

(1) OJ L 142, 31.5.2002, p. 59.
(2) OJ L 219, 10.8.2006, p. 23.

(3) OJ L 224, 16.8.2006, p. 1.
(4) OJ L 372, 31.12.1986, p. 1.
(5) OJ L 177, 30.6.2006, p. 201.
(6) OJ L 141, 11.6.1993, p. 1.
(7) OJ L 35, 11.2.2003, p. 1.
(8) OJ L 145, 30.4.2004, p. 1.
(9) OJ L 141, 11.6.1993, p. 27.
(10) OJ L 114, 27.4.2006, p. 60.

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(5)

(6)

(7)

73/239/EEC,

85/611/EEC,

Directive 2005/1/EC of the European Parliament and of
the Council of 9 March 2005 amending Council
Directives
91/675/EEC,
92/49/EEC and 93/6/EEC and Directives 94/19/EC,
98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and
2002/87/EC in order to establish a new organisational
structure for financial services committees (11) concerns
the activity and supervision of credit
institutions and
amends Directive 94/19/EC of the European Parliament
and of the Council (12) and Directive 2002/87/EC of the
European Parliament and of the Council (13), which are
already in Annex A. It therefore falls within the scope of
Article 11(2) of the Monetary Agreement and should also
be included in Annex A.

Directive 2006/48/EC of the European Parliament and of
the Council of 14 June 2006 relating to the taking up
and pursuit of
institutions
the business of
credit
(recast) (14) concerns
the activity and supervision of
credit institutions. It therefore falls within the scope of
Article 11(2) of the Monetary Agreement and should be
included in Annex A, with the exception of Titles III and
IV. Directive 2006/48/EC repeals Directive 2000/12/EC
of the European Parliament and of the Council (15), as
amended,
the
European Parliament and of the Council (16), Directive
2002/87/EC and Directive 2004/39/EC, which should
therefore be removed from Annex A. Moreover, since
Directive 2006/48/EC amends Directive 2002/87/EC,
which is listed in Annex A, it should also be included
as amending the latter.

inter alia, by Directive 2000/28/EC of

Commission Regulation (EC) No 1287/2006 of 10
August 2006 implementing Directive 2004/39/EC of
the European Parliament and of the Council as regards
record-keeping obligations for investment firms, trans-
transparency, admission of
action reporting, market
instruments to trading, and defined terms for
financial
that Directive (17) and Commission
the purposes of
Directive 2006/73/EC of 10 August 2006 implementing
Directive 2004/39/EC of the European Parliament and of
the Council as regards organisational requirements and
operating conditions for investment firms and defined
that Directive (18) concern
terms for the purposes of

institutions and
the activity and supervision of credit
supplement Directive 2004/39/EC,
amended by
Directive 2006/31/EC, which is already in Annex A.
They therefore fall within the scope of Article 11(2) of
the Monetary Agreement and should also be included in
Annex A.

as

(8)

Directive 2000/46/EC of the European Parliament and of
the Council of 18 September 2000 on the taking up,
pursuit of and prudential supervision of the business of
electronic money institutions (19) concerns the activity
It therefore falls
and supervision of credit institutions.
within the scope of Article 11(2) of
the Monetary
Agreement and should also be included in Annex A.

(9)

Annex A to the Monetary Agreement should therefore be
amended accordingly. For the sake of clarity, Annex A
should be replaced in its entirety.

(10) At its meeting on 13 September 2007, the Commission
informed the Joint Committee of the need to update
Joint
Annex A to the Monetary Agreement. The
Committee took note of the Commission’s position,

HAS DECIDED AS FOLLOWS:

Sole Article

Annex A to the Monetary Agreement between the Government
of the French Republic, on behalf of the European Community,
and the Government of His Serene Highness the Prince of
Monaco is replaced by the Annex to this Decision.

Done at Brussels, 25 January 2008.

For the Commission

Joaquín ALMUNIA
Member of the Commission

(11) OJ L 79, 24.3.2005, p. 9.
(12) OJ L 135, 31.5.1994, p. 5.
(13) OJ L 35, 11.2.2003, p. 1.
(14) OJ L 177, 30.6.2006, p. 1.
(15) OJ L 126, 26.5.2000, p. 1.
(16) OJ L 275, 27.10.2000, p. 37.
(17) OJ L 241, 2.9.2006, p. 1.
(18) OJ L 241, 2.9.2006, p. 26.

(19) OJ L 275, 27.10.2000, p. 39.

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ANNEX

1. 86/635/EEC

Council Directive of 8 December 1986 on the annual accounts and consolidated accounts of banks and other
financial institutions: for provisions applying to credit institutions

(OJ L 372, 31.12.1986, p. 1)

as amended by:

2001/65/EC

the European Parliament and of

Directive of
the Council of 27 September 2001 amending Directives
78/660/EEC, 83/349/EEC and 86/635/EEC as regards the valuation rules for the annual and consolidated
accounts of certain types of companies as well as of banks and other financial institutions

(OJ L 283, 27.10.2001, p. 28)

2003/51/EC

Directive of the European Parliament and of the Council of 18 June 2003 amending Directives 78/660/EEC,
83/349/EEC, 86/635/EEC and 91/674/EEC on the annual and consolidated accounts of certain types of
companies, banks and other financial institutions and insurance undertakings

(OJ L 178, 17.7.2003, p. 16)

2006/46/EC

Directive of the European Parliament and of the Council of 14 June 2006 amending Council Directives
78/660/EEC on the annual accounts of certain types of companies, 83/349/EEC on consolidated accounts,
86/635/EEC on the annual accounts and consolidated accounts of banks and other financial institutions and
91/674/EEC on the annual accounts and consolidated accounts of insurance undertakings

(OJ L 224, 16.8.2006, p. 1)

2. 89/117/EEC

Council Directive of 13 February 1989 on the obligations of branches established in a Member State of credit
institutions and financial institutions having their head offices outside that Member State regarding the publication of
annual accounting documents

(OJ L 44, 16.2.1989, p. 40)

3. 2006/49/EC

Directive of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment
firms and credit institutions (recast)

(OJ L 177, 30.6.2006, p. 201)

4. 94/19/EC

Directive of the European Parliament and of the Council of 30 May 1994 on deposit-guarantee schemes

(OJ L 135, 31.5.1994, p. 5)

as amended by:

2005/1/EC

Directive of the European Parliament and of the Council of 9 March 2005 amending Council Directives
73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC,
2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order
to establish a new organisational
structure for financial services committees

(OJ L 79, 24.3.2005, p. 9)

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5. 98/26/EC

Directive of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and
securities systems

(OJ L 166, 11.6.1998, p. 45)

6. 2006/48/EC

Directive of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of
the business of credit institutions (recast) — with the exception of Titles III and IV

(OJ L 177, 30.6.2006, p. 1)

7. 2001/24/EC

Directive of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding-up of
credit institutions

(OJ L 125, 5.5.2001, p. 15)

8. 2002/47/EC

Directive of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements

(OJ L 168, 27.6.2002, p. 43)

9. 2002/87/EC

Directive of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of
credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council
Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and
2000/12/EC of the European Parliament and of the Council

(OJ L 35, 11.2.2003, p. 1)

as amended by:

2005/1/EC

Directive of the European Parliament and of the Council of 9 March 2005 amending Council Directives
73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC,
2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order
to establish a new organisational
structure for financial services committees

(OJ L 79, 24.3.2005, p. 9)

2006/48/EC

Directive of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit
of the business of credit institutions (recast)

(OJ L 177, 30.6.2006, p. 1)

10. 2004/39/EC

Directive of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments
amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and
of the Council and repealing Council Directive 93/22/EEC — for provisions applying to credit institutions and with
the exception of Articles 15, 31 to 33 and Title III

(OJ L 145, 30.4.2004, p. 1)

as amended by:

2006/31/EC

Directive of the European Parliament and of the Council of 5 April 2006 amending Directive 2004/39/EC on
markets in financial instruments, as regards certain deadlines

(OJ L 114, 27.4.2006, p. 60)

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and supplemented by:

(EC) No 1287/2006

Commission Regulation of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament
and of the Council as regards record-keeping obligations for investment firms, transaction reporting, market
transparency, admission of financial
instruments to trading, and defined terms for the purposes of that
Directive

(OJ L 241, 2.9.2006, p. 1)

2006/73/EC

Commission Directive of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament
and of the Council as regards organisational requirements and operating conditions for investment firms and
defined terms for the purposes of that Directive

(OJ L 241, 2.9.2006, p. 26)

11. 2000/46/EC

Directive of the European Parliament and of the Council of 18 September 2000 on the taking up, pursuit of and
prudential supervision of the business of electronic money institutions

(OJ L 275, 27.10.2000, p. 39)