1. Banking services

1.1. Texts and publications from authorities

EU | EBA | 26 June 2026 | Revision of the SREP Guidelines: strengthening the risk-based approach

The European Banking Authority (EBA) has published revised Guidelines on the Supervisory Review and Evaluation Process (SREP) and prudential stress testing. The new framework incorporates, in particular, developments introduced by the CRR3/CRD6 package and strengthens the consideration of emerging or increasingly material risks, notably climate, environmental and social (ESG) risks, information and communication technology (ICT) risks, and credit spread risk in the banking book (CSRBB). The revision forms part of the broader effort to strengthen the consistency and effectiveness of the European banking supervisory framework through a more forward-looking and risk-based approach. The revised Guidelines will apply from 1 January 2027.

FR | Order of 29 July 2026 | Transposition of Directive (EU) 2024/1619 (CRD6): supervisory powers, sanctions, third-country branches and ESG risks

The Order of 29 July 2026, published in the Journal officiel on 1 August 2026, transposes into French law several provisions of Directive (EU) 2024/1619, known as “CRD6”. The Order amends, in particular, the rules governing internal controls, capital buffers, the SREP, as well as the regime applicable to French branches of third-country credit institutions. It therefore strengthens the French prudential supervisory framework and reflects developments in supervisory authorities’ powers, sanctioning regimes and the consideration of environmental, social and governance risk.

FR | Decree No. 2026-96 of 16 February 2026 | Amendments to the payment order procedure as of 1 September 2026

Decree No. 2026-96 of 16 February 2026 reforms the payment order procedure as from 1 September 2026. In particular, the time limit for a creditor to serve the payment order on the debtor is reduced from six to three months, failing which the order will lapse. The time limit for lodging an objection remains one month and, where an objection is lodged, the court registry must now inform the creditor within one month of receipt, except in proceedings falling within the jurisdiction of the commercial court. The reform also further regulates the enforcement stage and requires, where an objection is lodged, certain documents relating to service to be produced at the hearing, failing which the creditor’s claims may be declared inadmissible.

FR | Bill No. 3032 | 7 July 2026 | Strengthening the fight against internal banking fraud

Bill No. 3032, tabled on 7 July 2026 by Member of Parliament Daniel Labaronne, provides for the creation of a national register listing employees of credit institutions and financing companies who have committed serious breaches of their professional and ethical obligations. The initiative comes against a backdrop of nearly 500 serious breaches reportedly identified in 2024, resulting in estimated losses of €40 million. Beyond its prudential implications, the Bill is also relevant from a litigation perspective. Where fraud is committed by an employee acting as an agent of the institution, the bank’s liability may be incurred pursuant to Article 1242, paragraph 5, of the French Civil Code. Moreover, the internal origin of the fraud may be relevant when assessing whether the customer acted with gross negligence within the meaning of Article L. 133-23 of the French Monetary and Financial Code

1.2. Case law

FR | Paris Court of Appeal | 2 July 2026, No. 25/11923 | Unauthorized payment transactions: the bank must establish authentication and the absence of any system failure

The Paris Court of Appeal held that, where a customer disputes having authorized payment transactions, the bank must demonstrate that the transactions were authenticated, duly recorded and accounted for, and that they were not affected by any technical failure, in accordance with Article L. 133-23 of the French Monetary and Financial Code. The mere alleged use of strong customer authentication is insufficient to establish that the transactions were authorized or that the customer acted with gross negligence. In this case, the Caisse d’Épargne failed to provide sufficient evidence linking the disputed transactions to the alleged authentication procedures, while the use of several IP addresses following the theft of the customer’s telephone remained unexplained.

2. Consumer protection and consumer credit

FR | Decree No. 2026-719 of 1 August 2026 | Consumer credit: enhanced traceability of creditworthiness assessments and support for borrowers in financial difficulty

Decree No. 2026-719 of 1 August 2026 on consumer credit clarifies lenders’ obligations regarding the assessment of borrowers’ creditworthiness. In particular, lenders must document and retain, throughout the term of the credit agreement, the procedures and information used to assess creditworthiness. The Decree also specifies the role of advisory services for over-indebted individuals and provides for borrowers likely to be registered with the FICP to be directed towards such services. It further strengthens training requirements for credit professionals, notably to ensure that they are able to inform borrowers about the availability of these support mechanisms. These new requirements will enter into force on 20 November 2026.

FR | Cold calling | 11 August 2026 | Generalization of prior consumer consent

Since 11 August 2026, commercial phone solicitation is prohibited in principle where the consumer has not given prior consent. Consent must be freely given, specific, informed, unambiguous and capable of being withdrawn, and the professional must be able to demonstrate that such consent was obtained. An exception remains where the call relates to the performance of an existing contract and is connected with its subject matter. The reform also brings the Bloctel system to an end and applies across all sectors, with implications for financial institutions and insurers engaging in telephone marketing.

3. Financial markets, savings and tax

FR | Interprofessional Note of 24 July 2026 | PEA: proposed restriction of eligibility for synthetic ETFs providing exposure to non-European markets

An interprofessional note dated 24 July 2026 and signed by the French Asset Management Association (AFG), AMAFI, the French Banking Federation (FBF) and France Post-Marché refers to a proposal by the French Treasury Directorate-General to reconsider the eligibility for PEA tax wrappers of synthetic replication ETFs providing exposure to non-European markets. The proposal would notably affect ETFs tracking indices such as the MSCI World, S&P 500 and Nasdaq through swap-based mechanisms. According to the professional associations, this change could be incorporated into the 2027 Finance Bill. At this stage, however, no legislative or regulatory provision has been adopted or published to terminate such eligibility.

FR | Law No. 2026-795 of 18 August 2026 | Modernization of the management of the State’s real estate assets and establishment of a public property company

Law No. 2026-795 of 18 August 2026 reforms the management of the State’s real estate assets by establishing a State property company in the form of an EPIC, which will replace the State Real Estate Management Agency no later than 1 January 2027. The new entity will become the owner of assets transferred to it and lease them to State departments, thereby separating the State’s role as owner from that of occupier. It will notably be responsible for managing, maintaining, renovating, acquiring, developing and disposing of State real estate assets, with a focus on ecological and energy transition. The Law governs the transfer of assets to the new entity and provides for certain tax exemptions. It will also contribute to defining the multi-annual strategy for managing the State’s real estate portfolio and will be required to report annually on its activities to Parliament.

FR | Decree No. 2026-763 of 9 August 2026 | Tax credit for investments in green industry (C3IV): extension until 2029

Decree No. 2026-763 of 9 August 2026, published in the Journal officiel on 11 August 2026, sets out the implementing rules for the extension of the tax credit for investments in green industry (C3IV), whose duration has been extended by three years. The Decree notably specifies the criteria for assessing the economic value of investment projects, taking into account the resilience of supply chains, the project’s integration into the targeted industrial sectors, its research, development and innovation activities in France, and its contribution to maintaining and developing national skills and know-how. The extension is intended to support continued investment in strategic green-industry sectors, including batteries, wind power, solar energy and heat pumps.

Warren Mead

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