Dormant Accounts

A French Law on dormant bank accounts and unclaimed life insurance policies, known as the "Eckert Law", has now come into force and immediate action is required for those that hold Thales SA shares (in the form of share units) in accounts with Amundi TC (, our share scheme administrators for shares received through the 2002 and 2008 employee share schemes).

Amundi TC informed Thales several days ago that under the new law they are obliged to close employee share schemes accounts that have had no activity for the past 10 years in less than two weeks' time. The investment units would be sold, and the resulting funds transferred to the Caisse Des Depot (French Public Financial Institution). Once the transfer has happened it is a very complex procedure to get the funds returned. Also, once the funds are with the CDC, if there was to be no further activity the funds will be forfeited to the French State after 20 years.

If Amundi TC does close the account and sell the units, a fee of 50% (not to exceed €60) will be deducted from the funds for the administration required for this transfer.

Amundi TC has already sent out notices to those affected to the address held on their system. However, we are not certain that they hold current details (Email and addresses) for all of those concerned.

If you have received shares (or believe that you did receive shares but have had no recent communications from Amundi) and still hold the shares (units), you can avoid this procedure by simply performing any transaction (A - below) or contacting Amundi TC (B – below) or contacting us (C – below).

A: Any transaction - as simple as logging into your account- on the website will suffice:

  1. visit and at the very bottom of the home page choose their language
  2. enter the username corresponding to the account number (col. B)
  3. enter the password or, if they have forgotten it, click 'I forgot my password' to receive a new one by SMS or by post.

B: If you doubt that your home address or mobile number is correct, you can contact Amundi TC by post or email them. In which case, you should send:

  1. A copy of your ID
  2. Your Amundi TC account number (col. B)

Address is: AMUNDI TC, TSA 40201, 26956 VALENCE CEDEX 9, FRANCE

Email is:

C: – You can also send an e-mail to

or for further assistance.

Even if you believe that you have accessed your Amundi account within the last few years it would be good practice to log into your account at least once a year, starting straight away. Also if you know of any colleagues/former colleagues that might not know of this matter please contact them.

Please take action if in doubt.

In line with the Eckert law which came into force last year, Amundi sold shares in dormant accounts on 27/9/17 and transferred the proceeds to CDC (a state-owned bank in Paris).

This affected about 33 UK (ex) employee shareholders.

Any person affected should access the Ciclade website, especially set up to help investors get their funds back.

The web address is

Any-one who cannot recover funds through that website can contact Robert Scallon on for help.

Ciclade requires the following, so be prepared!

  • Your current address
  • Your last known address (in Amundi’s books)
  • The name and number of your bank account
  • The name and address of your bank plus the BIC and IBAN and sorting code
  • Your first name(s) and surname
  • Your date of birth
  • Place and country of birth
  • Your nationality