Section 2: Other conditions of access and practice

Intermediaries in banking transactions and payment services who are natural persons acting in their own name, persons who direct, manage or administer intermediaries in banking transactions and payment services who are legal persons, and persons who are members of a supervisory body, have the power to sign on behalf of or are directly responsible for the intermediation activity within these intermediaries must meet the conditions of good repute and professional…

Where the intermediary acts on behalf of a credit institution, a finance company, an electronic money institution that provides payment services, a payment institution, another intermediary in banking transactions and payment services, a participative finance intermediary, a participative finance service provider in connection with its loan facilitation activities, an insurance company in connection with its lending activities or a management company referred to in the first paragraph of Article L….

Any intermediary in banking transactions and payment services who, even on an occasional basis, is entrusted with funds as an agent of the parties, is required at all times to provide evidence of a financial guarantee specifically allocated to the repayment of these funds to customers. This guarantee may only result from a guarantee undertaking given by a credit institution or finance company authorised for this purpose or an insurance…