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Article R547-1 of the French Monetary and Financial Code

November 5, 2023

For the authorisation procedure for the service providers mentioned in Article L. 547-1, the Autorité des marchés financiers shall assess the completeness of the application within twenty-five working days of receiving an application for authorisation. It shall involve the Autorité de contrôle prudentiel et de résolution in this assessment where the applicant’s programme of operations includes facilitating the granting of loans. If the application is not complete, the AMF will…

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Article D547-2 of the French Monetary and Financial Code

November 5, 2023

Where the provider of equity crowdfunding services asks the AMF to withdraw its authorisation, it shall transfer the existing contracts to another provider of equity crowdfunding services authorised to provide such services in France, subject to the agreement of its clients and the recipient provider. Where the AMF withdraws the authorisation of an equity crowdfunding service provider, at its request or ex officio, its decision shall be notified to the…

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Article D547-3 of the French Monetary and Financial Code

November 5, 2023

The activity of providers of participative financing services referred to in article L. 547-4 relates exclusively to offers of shares in cooperative societies constituted in the form of a public limited company covered by article 11 of law no. 47-1775 of 10 September 1947 on the status of cooperation.

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Article D548-1 of the French Monetary and Financial Code

November 5, 2023

The amount of credit referred to in Article L. 548-1 may not exceed €2,000 per lender and per project. The term of such credit may not exceed seven years. The contractual interest rate for such credit may not exceed the threshold applicable to that category when it falls into one of the loan categories mentioned in the order of the Minister for the Economy and Finance issued in application of…

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Article R548-2 of the French Monetary and Financial Code

November 5, 2023

Natural persons who direct or manage a participatory finance intermediary must not be subject to any of the incapacities referred to in Article L. 500-1, nor hold a management position in a person subject to any of the sanctions referred to in 3° and 7° of Article L. 612-39 and I of Article L. 612-41.

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Article R548-3 of the French Monetary and Financial Code

November 5, 2023

Natural persons who direct or manage an intermediary in participative financing must provide evidence of professional skills resulting from : 1° Either a level I or II diploma attesting to higher education in banking, finance, economics or business sciences, management sciences, physical sciences, mathematics or banking and financial law, registered in the national directory of professional certifications mentioned in Article R. 335-12 of the Education Code and falling within the…

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Article D548-3-1 of the French Monetary and Financial Code

November 5, 2023

The civil liability insurance policy taken out by an intermediary in equity crowdfunding pursuant to Article L. 548-5 shall include cover of not less than 250,000 euros per claim and 500,000 euros per insurance year. Where the policy is taken out by an intermediary in the field of equity crowdfunding who only presents offers of financing through donations on its website, the amount of cover provided may not be less…

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Article R548-4 of the French Monetary and Financial Code

November 5, 2023

I. – Participative finance intermediaries shall mention on their website, in a manner that is easily accessible from the first page, and in all correspondence and on all advertising media, with the exception of radio advertisements, their name and corporate name, the address of their registered office, their e-mail address, their registration number in the register referred to in Article L. 512-1 of the Insurance Code and, where applicable, its…

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Article R548-5 of the French Monetary and Financial Code

November 5, 2023

The intermediary in equity financing : 1° Requests any lender and project promoter wishing to enter into a loan agreement : a) To provide, in the case of a natural person, their surname, first names, date and place of birth, home postal address and e-mail address and, in the case of a legal entity, its name or corporate name, the postal address of its registered office and its SIREN number;…

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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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French Business Lawyers

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Linkedin

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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