Section 1: General provisions applicable to investment service providers

Investment services providers are investment firms, portfolio management companies and credit institutions authorised to provide the investment services referred to in Article L. 321-1. The provision of related services within the meaning of Article L. 321-2 is unrestricted, subject to compliance with the laws and regulations in force applicable to each of these services. The provision of such services alone does not entitle the client to the status of investment…

The following may provide investment services within the limits of the legislative provisions which, where applicable, govern them, without being subject to the authorisation procedure provided for in Article L. 532-1 but without being able to claim the benefit of the provisions of Articles L. 532-16 to L. 532-27: 1° a) The French State, the Caisse de la dette publique and the Caisse d’amortissement de la dette sociale ; b)…