Title VI: Obligations relating to the fight against money laundering, the financing of terrorist activities, prohibited lotteries, gaming and betting and tax evasion and fraud

The following are subject to the obligations set out in sections 2 to 7 of this chapter: 1° Bodies, institutions and services governed by the provisions of Title I of this Book, including branches of the credit institutions mentioned in Article L. 511-22 and the financial institutions mentioned in Article L. 511-23 ; 1° bis Payment institutions governed by the provisions of Chapter II of Title II of this Book,…

For the purposes of this chapter, the notion of business relationship means the professional or commercial relationship with the customer and includes, where applicable, the beneficial owner. In the case of life insurance and capitalisation contracts, the business relationship includes the beneficiary of the contract and, where applicable, the beneficial owner of the beneficiary of the contract referred to in III of Article L. 561-5. A business relationship is established…

For the purposes of this chapter, the beneficial owner is the natural person(s): 1° who ultimately controls, directly or indirectly, the customer ; 2° or for whom a transaction is executed or an activity carried out. A decree of the Conseil d’Etat shall specify the definition and procedures for determining the beneficial owner.

The persons mentioned in 1°, 1° bis, 1° ter and 1° quater of Article L. 561-2 are not subject to the provisions of this chapter solely in respect of their activities in providing the service mentioned in 8° of II of Article L. 314-1. The persons mentioned in 4° of Article L. 561-2 are not subject to the provisions of this chapter for projects whose financing corresponds to amounts below…

I. – The persons referred to in 13° of Article L. 561-2 are subject to the provisions of this chapter when, in the course of their professional activity: 1° They participate in the name and on behalf of their client in any financial or real estate transaction or act in a fiduciary capacity ; 2° They assist their client in the preparation or execution of transactions concerning : a) The…

Natural or legal persons who carry out, in direct connection with their main business, an ancillary financial activity which falls within one of the categories mentioned in 1° to 7°c of Article L. 561-2 and which presents little risk of money laundering or terrorist financing shall be exempt from the obligations of this chapter. A decree of the Conseil d’Etat shall define the financial activities that may be considered as…