France’s Directorate General of the Treasury and the Prudential Supervision and Resolution Authority (ACPR) have updated their joint guidelines on how financial institutions supervised by the ACPR must implement asset-freeze measures. The guidance reiterates that freezes must be applied as soon as they enter into force and create a results obligation, requiring firms to freeze funds and economic resources owned, held or controlled by designated persons or entities and prohibiting the direct or indirect making available of funds or economic resources to them. Adopted after consultation via the AML/CFT Consultative Commission (CCLCB-FT), the second revision updates the 2016 guidelines (last amended in 2021) to reflect recent national and international legislative and regulatory developments, including new French regimes linked to foreign interference and narcotrafficking and EU measures on sanctions and transfers of funds. It also incorporates the European Banking Authority’s Guidelines EBA/GL/2024/14 and EBA/GL/2024/15, recent Sanctions Commission case law, ACPR findings on industry practices including a cross-cutting review, and emerging risks, and highlights that ACPR may take supervisory and disciplinary measures where firms’ arrangements are insufficient, without prejudice to criminal penalties for breaches.
Bank of France 2026-04-07
France's Prudential Supervision and Resolution Authority and Directorate General of the Treasury update joint guidelines on implementing asset-freeze measures
The Directorate General of the Treasury and the Prudential Supervision and Resolution Authority have updated their joint guidelines on asset-freeze measures for institutions under the Authority’s supervision, reaffirming the immediate, results-based obligation to freeze funds and economic resources of designated persons and to prohibit making such assets available. This second revision of the 2016 guidelines reflects recent French and EU legislative and regulatory developments, incorporates European Banking Authority guidelines, case law and supervisory findings, and underscores that the Authority may take supervisory and disciplinary action in addition to potential criminal penalties for breaches.