Chapter IX: Banking and payment services intermediaries

I.-Intermediation in banking transactions and payment services is the activity of presenting, proposing or assisting in the conclusion of banking transactions or payment services or carrying out any work or advice preparatory to their execution. An intermediary in banking transactions and payment services is any person who, on a regular basis, for remuneration or any other form of economic benefit, intermediates in banking transactions and payment services, without acting as…

Bank and payment services intermediaries may provide their customers with advice on transactions relating to the credit agreements referred to in article L. 313-1 of the French Consumer Code, with the exception of credit consolidation transactions as defined in articles L. 314-10 to L. 314-14 of the same code. The advisory service consists of providing customers, including potential customers, with personalised recommendations concerning one or more transactions relating to credit…

The activity of intermediary in banking transactions and payment services may only be carried out between two persons, at least one of whom is a credit institution, a finance company, an electronic money institution that provides payment services, a payment institution, a participatory finance intermediary, a provider of participatory finance services as part of its loan facilitation activities, an insurance company as part of its lending activities or a management…

The provisions of this chapter do not apply to notaries, who remain subject to their own legislative and regulatory provisions.

The banking and payment services intermediaries defined in Article L. 519-1 are registered in the single register referred to in Article L. 546-1.

Credit institutions, finance companies, electronic money institutions that provide payment services, payment institutions, intermediaries in banking and payment services, intermediaries in participative financing, providers of participative financing services as part of their loan facilitation activities, insurance companies as part of their lending activity and the management companies mentioned in the first paragraph of Article L. 519-2 who use the services of intermediaries in banking and payment services must ensure that…