Section 3: Rules of good conduct and organisation

The intermediaries referred to in article R. 519-27 above are required to analyse a sufficient number of contracts on offer to be able to base an objective analysis of the market and recommend or propose a contract suited to the needs of the customer, including the potential customer. They must provide customers and potential customers with information describing and comparing the different types of contract available on the market for…

The intermediary shall explain to the customer, including the potential customer, the reasons for his proposals and how he has taken account of the information he has obtained from the customer.

Prior to the conclusion of any banking transaction or the provision of any payment service or any preparatory work and advice, the intermediary shall inform the customer, including the potential customer: 1° The number and names of the credit institutions, finance companies, payment institutions, electronic money institutions that provide payment services, participative finance intermediaries, insurance companies in connection with their lending activities or management companies in connection with their FIA…

I. – Intermediaries must, at the time of subscription, respond truthfully to all requests for information from the credit institution, finance company, payment institution, electronic money institution that provides payment services, intermediary in participative financing, insurance company in the context of its lending activities or management company in the context of its FIA management activities mentioned in article L. 511-6 when they may be useful in assessing the customer’s background…

The intermediaries mentioned in 1° and 4° of I of article R. 519-4 who also carry out insurance or reinsurance brokerage activities may join only one approved professional association, provided that this association is approved for all their activities.

When an association’s authorisation is withdrawn under the conditions set out in Section 6, or in the event of dissolution for any reason whatsoever, the intermediaries referred to in 1° and 4° of I of Article R. 519-4 must join a new approved association within three months of notification of the decision to withdraw authorisation or the date of dissolution.