By Raphaël MORENON
11 June 2025
When a private individual or company director contacts a credit broker, he or she expects much more than simply to be put in touch with a bank. They are looking for expertise, support and, above all, sound advice to help them obtain the best possible financing terms. This expectation is governed by a fundamental legal obligation: the broker's duty to advise. Although the details of this obligation are often overlooked, it lies at the heart of the customer relationship and the responsibility of this intermediary. It is one of a series of responsibilities that govern the activities of banking intermediaries, as set out in our comprehensive guide to the obligations of IOBSPs. Understanding the scope and limits of this duty is essential for any borrower wishing to ensure that their interests are properly defended. Definition and legal basis of IOBSPs' duty to advise The duty to advise is a central concept that distinguishes the broker...
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