Chapter V: Tied agents

An investment service provider may use the services of tied agents, within the meaning of 29(1) of Article 4 of Directive 2014/65/EU of 15 May 2014 and who may be natural or legal persons, to provide the following investment services, for which it is authorised: 1. The reception and transmission of orders on behalf of third parties ; 2. Guaranteed or unguaranteed investment ; 3. Investment advice. Tied agents may…

Each tied agent acts under a mandate given by a single investment services provider. The investment services provider remains fully and unconditionally liable to third parties for acts carried out in its name and on its behalf by its tied agents and for omissions on the part of the latter. Tied agents shall inform clients, in particular potential clients, of their status and the identity of their principal when they…

Tied agents may not receive funds or financial instruments from their principal’s customers if the principal is not a credit institution.

Natural persons who are tied agents of investment service providers, as well as natural persons who have the power to manage or administer legal persons authorised as tied agents of investment service providers, must comply with conditions of good repute laid down by decree. Investment services providers that use the services of tied agents shall ensure that the latter have the general, commercial and professional knowledge and skills required to…

Tied agents as defined in article L. 545-1 are registered in the single register mentioned in article L. 546-1.

Investment services providers that use the services of tied agents must ensure that these agents are registered in accordance with Article L. 545-5.

An investment service provider that uses a tied agent shall take appropriate steps to ensure that the activities of the tied agent outside the scope of this Chapter do not adversely affect the activities that the tied agent undertakes on behalf of the investment service provider.