BPCE - 2019 RISK REPORT Pillar III

10 LEGAL RISKS

LEGAL AND ARBITRATION PROCEEDINGS – NATIXIS

Competition Authority – Natixis Intertitres et Natixis

On October 9, 2015, a company in the restaurant voucher sector lodged a complaint with the Competition Authority to contest sector practices with respect to the issuance and acceptance of restaurant vouchers. The complaint named several French companies in the restaurant voucher sector, including Natixis Intertitres. In its ruling of December 17, 2019, the Competition Authority found that Natixis Intertitres took part in an exchange of information and a practice aimed at cornering the restaurant voucher sector.

Natixis Intertitres was fined €4,360,000, and was issued two additional fines totaling €78,962,000, jointly and severally with Natixis. This ruling was published in a press release by the Competition Authority on December 18, 2019. Natixis and Natixis Intertitres have decided to appeal the ruling upon receiving notification thereof.

Bucephalus Capital Limited – Darius Capital Partners

On June 7, 2019, Bucephalus Capital Limited (a UK law firm), together with other firms, brought claims against Darius Capital Partners (a French law firm and 60%-owned subsidiary of Natixis Investment Managers) before the Paris Commercial Court, to contest the breach of various contractual obligations, particularly with respect to a framework agreement dated

September 5, 2013 setting out their contractual relations and various subsequent agreements. Bucephalus Capital Limited

claims a total of €178,487,500.

Darius Capital Partners considers these claims to be unfounded.

BCE/Natixis Wealth Management Luxembourg

Subsequent to a notice of grievance dated March 18, 2019, the Management Luxembourg due to a failure to meet its reporting European Central Bank decided on October 21, 2019 to issue an obligations with respect to material limits and exposures administrative penalty of €1,850,000 against Natixis Wealth between 2016 and 2017.

AMF/NAM Finance

Subsequent to an audit of its professional obligations, and more hand the case over to the Enforcement Committee. On specifically pertaining to “effective portfolio management” September 25, 2019, the AMF Enforcement Committee issued strategies, conducted in 2016, the AMF elected on July 17, a fine of €1 million against NAM Finance. The case is now 2017 to issue a notice of grievance against NAM Finance and to closed.

AMF/NIM International

In addition to the aforementioned case, the AMF elected in early Enforcement Committee. On September 25, 2019, the AMF June 2017 to conduct a similar audit on NIM International. In Enforcement Committee issued a fine of €2 million against early June 2018, the AMF decided to issue a notice of grievance NAM International. The case is now closed. against NIM International and to hand the case over to the

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RISK REPORT PILLAR III 2019 | GROUPE BPCE

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