Pierre Storrer wrote an article that appeared in the December 2014 issue of the French publication Revue Banque. The article discusses the following topic: 97-02: this reference has been haunting banking lawyers for over twenty years. But it is soon to be forgotten: "Updated regulation #97-02 of the Banking and Financial Regulations Committee dated February 21, 1997 in relation with internal control requirements of credit institutions and investment companies is repealed", as it can be read in article 278 of the November 3, 2014 decision with regards to internal control.
See full-length article attached and by clicking on the link: http://www.revue-banque.fr/chronique/reglement-97-02-est-mort-vive-arrete-3-novembre-20