Article L519-3-1 of the French Monetary and Financial Code
November 7, 2023
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.
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…
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…
Banking and payment services intermediaries must behave honestly, fairly, transparently and professionally, taking into account the rights and interests of customers, including potential customers. Banking and payment services intermediaries are required to comply with rules of good conduct laid down by decree in the Conseil d’Etat depending on the nature of the activity they carry out. These rules include obligations towards their customers to ensure that they are properly informed…
Before entering into a banking transaction or payment service, the intermediary referred to in Article L. 519-1 must provide the customer with information relating in particular to his identity, his registration in the file referred to in Article L. 546-1 and, where applicable, the existence of financial and economic links with one or more credit institutions, finance companies, payment or electronic money institutions that provide payment services, intermediaries in participative…
When banking and payment services intermediaries engage in canvassing activities within the meaning of Articles L. 341-1 and L. 341-2, they are subject to the provisions of this section and to Article L. 341-10, 5° to 7° of Article L. 341-12, Articles L. 341-13, L. 341-16, L. 341-17 and L. 353-1 to L. 353-5.
Any natural person or legal entity that assists, in any capacity whatsoever and in any manner whatsoever, directly or indirectly, in obtaining or granting a loan of money, is prohibited from receiving any sum representing a deposit, commission, research costs, enquiries, preparation of the file or mediation of any kind, prior to the actual payment of the funds loaned. It is also forbidden, before the funds and the copy of…
By way of derogation from article L. 519-6 and as part of the provision of an independent advisory service within the meaning of article L. 519-1-1, intermediaries in banking and payment services may receive remuneration from their customers.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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