Subsection 1: Provisions common to investment services providers other than portfolio management companies

I.-In order to provide the services mentioned in 4 or 5 of Article L. 321-1, investment service providers other than portfolio management companies shall obtain the necessary information concerning the investment knowledge and experience of their clients, in particular their potential clients, in relation to the specific type of financial instrument or service, their financial situation, including their capacity to incur losses, and their investment objectives, including their risk tolerance,…

If a property loan within the meaning of Chapter III of Title I of Book III of the Consumer Code subject to the provisions relating to the assessment of consumer solvency includes as a precondition the provision to the consumer of an investment service relating to mortgage bonds issued specifically to obtain the financing for the property loan and with identical terms and conditions to the latter, so that the…

Investment service providers other than portfolio management companies shall keep a record, including the document or documents approved by themselves and their clients, setting out the rights and obligations of the parties and the other conditions under which the former provide services to the latter. For the purposes of the first paragraph, the rights and obligations of the parties to the contract may be determined by reference to other documents…

I.- Investment service providers other than portfolio management companies shall report to their clients, in a durable medium, on the services provided to them. The report shall include periodic communications to clients depending on the type and complexity of the financial instruments concerned and the nature of the service provided to clients and, where applicable, the costs associated with the transactions carried out and the services provided on behalf of…

Articles L. 533-11 to L. 533-15 apply taking into account the nature of the service offered or provided, the nature of the financial instrument in question, and the professional or non-professional nature of the client, particularly the potential client. A professional client is a client who has the experience, knowledge and skills necessary to make his own investment decisions and properly assess the risks involved. A decree specifies the criteria…

An investment service provider other than an asset management company who receives an instruction to perform investment or related services on behalf of a client from another investment service provider other than an asset management company may rely on the due diligence performed by the latter investment service provider. The investment service provider who has issued the instruction remains responsible for the completeness and accuracy of the information transmitted. An…

I.- Investment services providers other than portfolio management companies shall take all reasonable steps to obtain, when executing orders, the best possible result for their clients having regard to price, cost, speed, likelihood of execution and settlement, size, nature of the order or any other considerations relating to the execution of the order. Nevertheless, whenever there is a specific instruction given by clients, ISPs execute the order in accordance with…

When executing client orders, investment services providers other than portfolio management companies shall establish and publish once a year, for each category of financial instrument, a ranking of the top five execution venues based on the trading volumes on which they executed client orders during the previous year and summary information on the quality of execution obtained.

Investment service providers other than asset management companies that execute client orders shall monitor the effectiveness of their order execution arrangements and execution policy in order to identify and address any weaknesses. In particular, they shall regularly check whether the execution venues provided for in their order execution policy make it possible to obtain the best possible result for clients or whether they need to make changes to their execution…

I.-With a view to providing the service referred to in Article L. 321-1.2, investment service providers other than portfolio management companies shall adopt and apply procedures to ensure that client orders are executed promptly and fairly in relation to orders from other clients or orders for their own account. These procedures shall provide for the execution of client orders which are comparable, in particular with regard to their size, type…