Book V: Service providers

When providing investment and investment-related services to clients, investment service providers other than asset management companies shall act honestly, fairly and professionally, in the best interests of their clients.

I. – All information, including promotional communications, addressed by an investment service provider other than an asset management company to clients, including potential clients, shall be accurate, clear and not misleading. Promotional communications shall be clearly identifiable as such. II – Investment service providers other than portfolio management companies shall provide their clients, including potential clients, with appropriate and timely information concerning the investment service provider other than a portfolio…

Where an investment service provider other than an asset management company offers an investment service together with another service or product as part of a package or as a condition of obtaining the agreement or package, the investment service provider shall make clear to the client whether it is possible to purchase the different elements of the offer or agreement separately and shall provide separate evidence of the costs and…

When an investment service provider other than a portfolio management company informs clients that the service referred to in Article L. 321-1 (5) is provided independently : 1° It evaluates a sufficient range of financial instruments available on the market, which must be sufficiently diversified in terms of their type and their issuers or suppliers to ensure that the client’s investment objectives can be met appropriately. The assessment is not…

Investment service providers other than portfolio management companies which provide the investment service referred to in Article L. 321-1 .4 shall not accept, unless they return them in full to the client, any remuneration, commission or other monetary or non-monetary benefit relating to the provision of the service to the client, paid or provided by a third party or by a person acting on behalf of a third party. Minor…

Investment service providers other than asset management companies shall not pay or receive any remuneration or commission or provide or receive any non-monetary benefit in connection with the provision of an investment or related service to any person, other than the client or the person acting on behalf of the client, unless the payment or benefit is intended to enhance the quality of the service concerned to the client and…

I.-The provision by a third party of research equipment or services to investment service providers, other than portfolio management companies, providing investment or related services to clients, shall be deemed to fulfil the obligations of Article L. 533-11 if : 1° Prior to the provision of execution services or research services or materials, the investment service provider and the research provider enter into an agreement specifying the portion, attributable to…