French banks Must Declare all their Activities?

French Banks must now declare all activities

According to Le Monde, the prudential and resolution Authority requested information from the French banks on their activities in tax havens.

After the release of the Panama papers, and the undeclared activities of individuals and companies in the Tax haven, The Prudential and Resolution Authority (ACPR) has requested information from the French banks.  “All this new information was of course immediately taken into account” , said a spokesman of the ACPR.  Clearly, banks should now have to declare all their activities, including their offshore activities as well.

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