French Business Law - French Legislation

Article R519-26 of the French Monetary and Financial Code

November 5, 2023

I. – Before concluding any banking transaction or payment service or any preparatory work or advice, the intermediary must agree with his customer, including any potential customer, in writing or on another durable medium, any charges and, where applicable, the remuneration due to him. Where the banking transaction relates to a credit agreement as defined in article L. 313-1 of the Consumer Code, the intermediary shall specify whether he receives…

Article R519-27 of the French Monetary and Financial Code

November 5, 2023

The additional rules provided for in this sub-section apply to the intermediaries referred to in 1° of I of article R. 519-4 and to their agents referred to in 4° of the same I.

Article R519-28 of the French Monetary and Financial Code

November 5, 2023

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…

Article R519-29 of the French Monetary and Financial Code

November 5, 2023

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.

Article R519-30 of the French Monetary and Financial Code

November 5, 2023

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…

Article R519-31 of the French Monetary and Financial Code

November 5, 2023

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…

Article R519-32 of the French Monetary and Financial Code

November 5, 2023

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.

Article R519-33 of the French Monetary and Financial Code

November 5, 2023

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.

Article R519-34 of the French Monetary and Financial Code

November 5, 2023

The association ensures that its members comply with the obligation to offer their customers recourse to a consumer mediator in accordance with the first paragraph of article L. 612-1 of the French Consumer Code. To this end, it offers them a mediator who meets the requirements of Title I of Book VI of the same code, using, where appropriate, a mediator from outside the association.

Article R519-35 of the French Monetary and Financial Code

November 5, 2023

If the purpose of the association covers activities other than insurance broking, the association may offer its members a single mediator for all these activities, provided that the mediator is registered on the list referred to inarticle L. 615-1 of the Consumer Code for each of these activities.

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Regulatory part

Article R519-26 of the French Monetary and Financial Code

Article R519-27 of the French Monetary and Financial Code

Article R519-28 of the French Monetary and Financial Code

Article R519-29 of the French Monetary and Financial Code

Article R519-30 of the French Monetary and Financial Code

Article R519-31 of the French Monetary and Financial Code

Article R519-32 of the French Monetary and Financial Code

Article R519-33 of the French Monetary and Financial Code

Article R519-34 of the French Monetary and Financial Code

Article R519-35 of the French Monetary and Financial Code

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Regulatory part

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