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Chapter III: Obligations of investment services providers

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Article L533-23 of the French Monetary and Financial Code

November 7, 2023

The investment services providers and persons mentioned in article L. 421-17 are required to inform investors, before entering into business relations with them, of the existence of a compensation scheme applicable in respect of the transaction or transactions envisaged, the amount and extent of the cover offered and, where applicable, the identity of the compensation fund. The investor compensation scheme is defined in articles L. 322-1 to L. 322-10.

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Article L533-24 of the French Monetary and Financial Code

November 7, 2023

Investment services providers other than portfolio management companies which design financial instruments for sale to clients : 1° Maintain, apply and review a validation process for each financial instrument and for significant adaptations of existing financial instruments before they are marketed or distributed to clients. This validation process determines a defined target market of end clients within the relevant client category for each instrument and ensures that all relevant risks…

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Article L533-24-1 of the French Monetary and Financial Code

November 7, 2023

Investment services providers offering, recommending or marketing financial instruments: 1° Ensure that they understand the characteristics of these financial instruments and assess their compatibility with the needs of the clients to whom they provide investment services, in particular in relation to the defined target market; 2° Ensure that financial instruments are offered or recommended only in the interests of the client; 3° Review these financial instruments on a regular basis,…

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Article L533-24-1-1 of the French Monetary and Financial Code

November 7, 2023

Investment service providers other than portfolio management companies that design financial instruments for sale to clients and investment service providers that offer, recommend or market financial instruments are not subject to the obligations set out in Article L. 533-24 and 1° to 3° of Article L. 533-24-1 when the investment service they provide relates to bonds that do not incorporate a derivative other than a redemption clause with early redemption…

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Article L533-24-2 of the French Monetary and Financial Code

November 7, 2023

Sub-sections 2, 3 and 4 of this section do not apply to class 3 investment firms. Where a class 2 investment firm finds that it qualifies as a class 3 investment firm, subsections 2, 3 and 4 cease to apply to it at the end of a period of six months from the date on which the conditions for qualification as a class 3 investment firm are met. However, subsections…

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Article L533-25 of the French Monetary and Financial Code

November 7, 2023

I.-In an investment firm, the following persons must at all times be of sufficiently good repute and have the knowledge, skills and experience required to perform their duties: 1° Members of the Board of Directors, the Supervisory Board and the Management Board, the Chief Executive Officer and the Deputy Chief Executive Officers, as well as any other person or member of a body exercising equivalent functions; 2° Persons who effectively…

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Article L533-26 of the French Monetary and Financial Code

November 7, 2023

I. – The persons who effectively manage the business of the firm within the meaning of Article L. 532-2 .4 and the members of the board of directors, the supervisory board, the management board or any other body exercising equivalent functions within an investment firm must devote sufficient time to the performance of their duties. II – Where the investment firm is of significant importance by virtue of its size,…

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Article L533-27-1 of the French Monetary and Financial Code

November 7, 2023

Investment firms shall ensure that all loans granted to members of the board of directors, the supervisory board or any other body exercising equivalent supervisory functions or to their related parties are appropriately documented and made available to the Autorité de contrôle prudentiel et de résolution upon request. For the purposes of the previous paragraph, a related party may be : 1° A spouse, a partner linked by a civil…

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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396

French Business Law
French Business Lawyers

Resources 

Contacts
Linkedin

is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396

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