Banking and securities law
Rights and obligations of security holders and shareholders in securitisation: what the law says
By Charlotte GAUCHON20 July 2025Investing in a securitisation transaction, while potentially lucrative, involves the investor in a complex legal framework. Whether you hold fund units, securitisation company shares or debt securities, your position is defined by a set of precise rights and obligations. Understanding this framework is essential to securing your investment and understanding your room for manoeuvre. The key players in a securitisation transaction, particularly the investors, operate in an ecosystem where each role is strictly defined by law. Ignoring these rules can expose you to unforeseen risks. It is therefore essential to seek legal advice for investors and shareholders on banking and financial law in order to navigate these financial arrangements with confidence. The role and non-interference of unit-holders in securitisation funds Securitisation funds (fonds commun de titrisation - FCT), which have no legal personality,...
Credit enhancement mechanisms and asset/liability management in securitisation: an in-depth approach
Banking and securities lawSecuritisation is a sophisticated financial technique that goes well beyond the simple pooling of assets. For such an operation to succeed and inspire investor confidence, it must be accompanied by robust risk management mechanisms and secure financial flows. This is where asset/liability management and financial...Taxation of securitisation in France: issues for securitisation undertakings and investors
Banking and securities lawSecuritisation is a powerful financial engineering tool, making it possible to transform illiquid assets into marketable securities. While understanding the key mechanism of securitisation is a first step, mastering the tax implications is a determining factor both for the entities that use it and for the...Post-IPO support: stabilisation and liquidity contracts
Banking and securities lawGoing public is a decisive step for a company, but the success of the operation is not measured solely on the day of the first listing. The period that follows is just as decisive in building investor confidence and ensuring the company's long-term value.Non-regulated markets: Alternext and Marché Libre for IPOs
Banking and securities lawGoing public is a decisive step in a company's growth, but the road to the financial markets can seem complex. For many small and medium-sized enterprises (SMEs), the requirements of regulated markets are a major obstacle. Fortunately, there are alternatives: Multilateral Trading Facilities (MTFs),...IPO prospectus: legal obligations and responsibilities
Banking and securities lawThe prospectus is the cornerstone of any initial public offering. This dense, regulated document has a dual mission: to inform potential investors and to engage the responsibility of the company going public. Inaccurate information or omissions can have considerable legal and financial consequences....Admission to trading on regulated markets: procedures and conditions
Banking and securities lawListing on a regulated market is a decisive step in the life of a company, often marking a transition to a new dimension of growth and recognition. This process, far from being a mere formality, is a demanding one that subjects the company to a set of strict rules designed to...Initial public offering: the complete legal guide for companies
Banking and securities lawAn Initial Public Offering (IPO) is a transformative step for a company, giving it access to the capital markets. Far from being a simple financial operation, it is a complex legal process, requiring meticulous preparation and the involvement of many players. The aim of this article is to...1988 Ottawa Convention on International Factoring: in-depth analysis
Factoring, Banking and stock exchange lawFactoring is a valuable financial management tool for companies wishing to optimise their cash flow by transferring their trade receivables to a specialised institution, the factor. When a company's customers are located abroad, the operation becomes more complex and takes on an international dimension. International factoring and its...The Financial Stability Board (FSB) and global financial governance
Banking and securities lawThe stability of the global financial system is a major issue, and its ups and downs can affect the real economy and, consequently, businesses and individuals. At the heart of the post-2008 crisis surveillance architecture is a unique institution, the Financial Stability Board (FSB). Although less well known to the...The Basel Committee: agreements, missions and influence on banking regulation
Banking and securities lawAt the heart of global financial stability, the Basel Committee is a key body, albeit one that is often misunderstood by the general public. Born of a desire for international cooperation in the face of crises, its influence on banking practices is considerable. It is one of the pillars of the international financial institutions that work...The Bank for International Settlements (BIS): a little-known player in financial regulation
Banking and securities lawAt the heart of the global financial ecosystem are players whose influence is as decisive as their name is unknown to the general public. The Bank for International Settlements (BIS) is one such entity. Often overshadowed by the International Monetary Fund or the World Bank, it is nonetheless a key player in the...The World Bank: a player in economic development and financial stability
Banking and securities lawThe World Bank is an institution whose name is familiar, but whose workings and real impact are often misunderstood. A central player among the international financial institutions, it plays a decisive role in financing development and ensuring global economic stability. Its action, which goes far beyond...The International Monetary Fund (IMF): missions and impact on global financial stability
Banking and securities lawThe International Monetary Fund, or IMF, is a familiar name, often associated with major global economic crises. Yet its precise role and real influence on national economies, and by extension on businesses, are often poorly understood. As a central player among the world's financial institutions, the...International financial institutions: key players in global regulation and stability
Banking and securities lawGlobalisation has transformed the financial sector into a complex and interdependent worldwide network. Faced with daily transactions that exceed the gross domestic product of large nations, purely state supervision is showing its limits. A local financial failure can quickly trigger a global shockwave, as the...Structured (toxic) loans: classification, validity and liability claims
Banking and securities lawThe lure of historically low interest rates has often led borrowers, whether local authorities, healthcare institutions or entrepreneurs, to turn to financing solutions presented as more advantageous. Structured loans, often referred to as "toxic" loans, have proved to be formidable arrangements. Built on...Bank liability and tax-free property loans: risks and obligations
Banking and securities law, Banking liabilityBorrowing to finance a rental property investment, often as part of a tax exemption scheme, is a common asset management strategy. These operations, which are presented as advantageous, are based on a delicate financial balance: the rental income and tax benefits are supposed to cover the repayments on the loan....Bank liability and life insurance loans: intermediaries' specific obligations
Banking and securities law, Banking liabilityFinancial packages combining a bank loan with a life insurance policy are common investment solutions, often presented as advantageous asset transactions. This type of arrangement, in which a loan, often a bullet loan, is used to finance a life insurance investment pledged to the bank, is based on the hope that the...Legal nature of bank del credere: definition and details
Banking and stock exchange law, DucroireThe bank del credere, a guarantee mechanism that is often misunderstood, nevertheless represents a powerful legal tool for securing commercial transactions. It is a form of undertaking by which a credit institution guarantees payment of a claim to its beneficiary, usually a seller, in the event of default by the debtor. This guarantee,...Cooperation and competition between credit institutions: legal issues
Banking and securities lawThe banking sector operates on an apparent paradox: intense competition coexists with indispensable collaboration. Credit institutions, while rivals on the market, are forced to cooperate to ensure the operation of common infrastructures and to carry out large-scale financial operations. This duality places...Credit institution law: a comprehensive guide to banking institutions in France
Banking and securities lawThe French banking and financial sector is characterised by a dense ecosystem and rigorous regulation. For businesses and individuals alike, understanding who is authorised to provide banking services is an essential prerequisite. The term "credit institution" covers a wide range of different situations, shaped by history, the...
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