Section 2: Sworn goods brokers

The list of sworn goods brokers is drawn up by each court of appeal at the request of the public prosecutor. It shall show, for each of them, the date of their registration as well as their professional specialisation(s) as sanctioned by the aptitude test provided for in 5° of article L. 131-13. The Court of Appeal may make new entries or amendments to the list whenever it is required…

No person may be entered on the list of sworn goods brokers of a court of appeal unless he fulfils the following conditions: 1° Be French or a national of a Member State of the European Union or of another State party to the Agreement on the European Economic Area ; 2° Not have been subject to personal bankruptcy or any other sanction pursuant to Title V of Book VI…

In order for a legal entity to be registered on the list of sworn goods brokers of a court of appeal, it must be proven : 1° That its directors have not been the subject of a final criminal conviction for acts contrary to honour, probity or morality or acts of the same nature that have given rise to a disciplinary or administrative sanction of dismissal, striking off, revocation, withdrawal…

Sworn merchandise brokers must provide evidence of: 1° The existence in a credit institution of an account intended exclusively to receive funds held on behalf of others; 2° Insurance covering their professional liability; 3° Insurance or a guarantee guaranteeing the representation of the funds mentioned in 1°.

Any change occurring in the situation of brokers who have applied for or obtained their registration on a list, with regard to the conditions set out in article L. 131-15, must be brought to the attention of the Public Prosecutor without delay.

No one may be registered as a sworn goods broker on more than one Court of Appeal list.

Persons registered on the lists of sworn brokers mentioned in article L. 131-12 may, in the activities reserved for these brokers, refer to their status as “courtier de marchandises assermenté près la cour d’appel de” followed by the professional speciality(ies) under which they are registered. Sworn brokers of goods admitted to honorary status may continue to use their title provided that it is followed by the word “honoraire”.

Any person, other than those mentioned in Article L. 131-18, who has used one of the names referred to in that same article shall be liable to the penalties provided for in Article 433-17 of the Penal Code. The same penalties apply to anyone who uses a name intended to create confusion in the mind of the public with the names mentioned in article L. 131-18 of this code.

In addition to their role as sworn goods brokers, brokers may carry out their usual activities, such as commission, brokerage, commercial agency and consignment of goods, either on a personal basis or through a company. When carrying out these activities, they must clearly indicate that they are not acting as a sworn broker.

On being entered on the list drawn up by the Court of Appeal, the stockbroker takes an oath before that court to perform the duties of his office with honour and probity.