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Article L547-6 of the French Monetary and Financial Code

A provider of equity crowdfunding services wishing to engage in the activity referred to in Article L. 547-4 shall submit an application to the Autorité des marchés financiers, either when applying for authorisation as a provider of equity crowdfunding services, or when applying for an extension of authorisation, or by means of a separate application. The latter shall be processed in accordance with paragraphs 4 to 11 of Article 12…

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Article L548-1 of the French Monetary and Financial Code

Participatory finance intermediation consists of bringing together, by means of a website, the promoters of a given project and the persons financing that project under the following conditions: 1° Legal entities and, when acting for professional purposes, natural persons seeking financing for activities other than those governed by Regulation (EU) 2020/1503 of 7 October 2020 may obtain the loans mentioned in Article L. 511-6(7), free loans and donations ; 2°…

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Article L548-2 of the French Monetary and Financial Code

I.-Participative finance intermediaries are persons who habitually act as intermediaries within the meaning of Article L. 548-1. Only legal entities may be equity financing intermediaries. II.Participative finance intermediaries are not authorised to carry out any activities other than those mentioned in Article L. 548-1 or, where applicable, those that they are authorised to carry out in their capacity as a credit institution, finance company, payment institution, account information service provider,…

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Article L548-5 of the French Monetary and Financial Code

I. – Participative finance intermediaries must be able to provide evidence at all times of an insurance policy covering them against the financial consequences of their professional civil liability in the event of a breach of their professional obligations, as defined in article L. 548-6. II. – A decree lays down the conditions for application of this article, in particular the minimum amount of the guarantee ceiling for policies taken…

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Article L548-6 of the French Monetary and Financial Code

Participative finance intermediaries must behave honestly, fairly, transparently and professionally, taking into account the rights and interests of their clients, including potential clients. To this end, they shall take and document all reasonable measures to detect and prevent the risks of conflicts of interest that may arise in the course of their activity. Participative finance intermediaries shall comply with rules of good conduct and organisation that take account of the…

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Article L549-2 of the French Monetary and Financial Code

For the purposes of Article 27 of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012, the Autorité des marchés financiers shall be the competent national authority responsible for the prior authorisation and supervision of data communication service providers referred to in Article 2(3) of the same Regulation.

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Article L54-10-1 of the French Monetary and Financial Code

For the purposes of this chapter, digital assets include: 1° The tokens referred to in Article L. 552-2, with the exception of those fulfilling the characteristics of the financial instruments referred to in Article L. 211-1 and the savings bonds referred to in Article L. 223-1; 2° Any digital representation of a value that is not issued or guaranteed by a central bank or a public authority, that is not…

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