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Overview:

The French Prudential Supervisory and Resolution Authority (ACPR) requires financial institutions to comply with several regulations :

  • the LBC-FT (“Lutte Contre le Blanchiment des Capitaux et le Financement du Terrorisme”) regulation, specifically under the LBC-FT 2.3.1 taxonomy, effective from December 31, 2024,

  • the IORP II Directive (Directive 2016/2341/EU), the Solvency II regulatory framework and AML-specific additions, implemented by the ORPS 1.4.1 taxonomy, effective from March 31, 2025, IORP meaning “Institution for Occupational Retirement Provision”, pension funds operating in one or more countries of the European Union and complying with the social and labour laws of each country where they operate.

Moreover, it requires banks and similar companies to deliver regulatory reports and statistics as implemented by the RUBA 1.2.0.1 taxonomy, effective from June 30, 2025.

Requirements:

Under LBC-FT 2.3.1, companies must adhere to the following key requirements:

  • Data Accuracy and Completeness:
    • Ensure all data related to anti-money laundering and counter-terrorism financing is accurate and complete.
    • Include detailed breakdowns of transactions and compliance measures.
  • Audit Trail:
    • Maintain a comprehensive audit trail of all data submissions.
    • Ensure transparency and accountability through detailed record-keeping.

All supported ACPR taxonomies leverage the capabilities offered by the XBRL (eXtensible Business Reporting Language) standard:

  • Standardized Reporting Format:
    • Utilize the XBRL format for all submissions.
    • Follow the specific taxonomy defined by ACPR to ensure consistency and comparability.
  • Timely Submission:
    • Adhere to the reporting deadlines established by ACPR.
    • Implement automated processes to ensure timely data collection and submission.
  • Data Validation:
    • Employ robust validation mechanisms to detect and correct errors before submission.
    • Use tools that provide real-time validation feedback

    For further details on the LBC-FT 2.3.1 taxonomy, visit Taxonomie LCB-FT 2.3.1

    For further details on the ORPS 1.4.1 taxonomy, visit Taxonomie ORPS 1.4.1 – reporting européen

    For further details on the RUBA 1.2.0.1 taxonomy, visit Taxonomie RUBA 1.2.0.1 Hotfix

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    Our Arevio solution fully supports submitting reports for the above mentioned taxonomies and encompasses the generation of the reporting in the required XBRL format as well as validation mechanisms ensuring accuracy and completeness before submission.

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