French Business Law - French Legislation

Article R519-36 of the French Monetary and Financial Code

November 5, 2023

The association verifies that the staff of its members subject to the requirement of good repute referred to in articles L. 500-1, L. 519-3-3 and R. 519-6 meet this requirement. To this end, any person applying for membership or renewal thereof shall provide the Association each year with an updated list of the staff concerned, indicating the surnames, first names and functions of the corresponding employees. It must certify that…

Article R519-37 of the French Monetary and Financial Code

November 5, 2023

The association shall ensure that its members comply with the obligation to take out the professional indemnity insurance referred to in Article L. 519-3-4. In particular, it verifies that this contract, where required, covers the activities carried out by their members as intermediaries in banking and payment services and that it meets the conditions set out in I and II of article R. 519-16. To this end, each member shall…

Article R519-38 of the French Monetary and Financial Code

November 5, 2023

The association shall check that its members comply with the obligation to take out a financial guarantee as set out in article L. 519-4. It shall ensure that the amount of the guarantee referred to in article R. 519-17 is calculated in accordance with the applicable regulations and that it covers the reimbursement of funds actually collected by its members. To this end, each member shall provide the association with…

Article R519-39 of the French Monetary and Financial Code

November 5, 2023

The association ensures that the relevant staff of its members comply with the conditions of professional competence set out in article L. 519-3-3 , depending on the nature of the activity carried out and the products distributed, in accordance with the conditions set out in articles R. 519-8, R. 519-9 and R. 519-11 to R. 519-15. To this end, each member must provide the association with a list of the…

Article R519-40 of the French Monetary and Financial Code

November 5, 2023

The association verifies that its members and the staff concerned comply with the obligations relating to training and continuing professional development set out in articles L. 314-24 and R. 519-15-1. It verifies that the training courses referred to in article R. 519-15-1 are: 1° Effectively provided as part of internal offers or offers from external bodies relating to the training courses referred to inarticle L. 6313-1 of the Labour Code,…

Article R519-41 of the French Monetary and Financial Code

November 5, 2023

The association shall carry out verifications of the evidence referred to in subsections 2 and 3 in accordance with an action plan proportionate to the number of its members and phased over time. This action plan provides for each member to be verified at least once every five years.

Article R519-42 of the French Monetary and Financial Code

November 5, 2023

Following its audits, the association recommends any compliance measures to its members and ensures that they are followed up.

Article R519-43 of the French Monetary and Financial Code

November 5, 2023

The association is drawing up a guide to professional competence and ongoing professional training and development. This guide presents a list of training courses adapted to the levels of professional competence of its members and their relevant staff, as well as to the nature of the products they distribute and their distribution methods.

Article R519-44 of the French Monetary and Financial Code

November 5, 2023

The Association may carry out statistical surveys to gain a better understanding of the market. To this end, each member shall provide the Association with annual data relating to the organisation of its business, its workforce, the products it distributes, the breakdown of its customer base between retail and professional customers, and the suppliers of its products. The association keeps the data collected available to the Autorité de contrôle prudentiel…

Article R519-45 of the French Monetary and Financial Code

November 5, 2023

The association provides its members with all relevant information concerning changes in the regulations applicable to them. It informs them of any difficulties observed in the banking and payment services intermediation market which affect or are likely to affect the interests of customers or potential customers.

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Regulatory part

Article R519-36 of the French Monetary and Financial Code

Article R519-37 of the French Monetary and Financial Code

Article R519-38 of the French Monetary and Financial Code

Article R519-39 of the French Monetary and Financial Code

Article R519-40 of the French Monetary and Financial Code

Article R519-41 of the French Monetary and Financial Code

Article R519-42 of the French Monetary and Financial Code

Article R519-43 of the French Monetary and Financial Code

Article R519-44 of the French Monetary and Financial Code

Article R519-45 of the French Monetary and Financial Code

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Regulatory part

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