Banking and securities law
Lawyer and financial investment adviser (FIA): compatibility and limits
By Raphaël MORENON12 August 2025As a privileged confidant at key moments in our personal and professional lives, lawyers are often confronted with questions that go beyond the strictly legal framework to touch on finance and wealth. The dividing line between legal advice and investment recommendations can seem very fine. It was to provide a framework for this second activity that the status of financial investment adviser (FIA) was created, a regulated profession designed to protect savers. The question of the compatibility of the lawyer's robe and the FIA hat is far from anecdotal: it raises fundamental ethical and practical issues. This article explores the possibilities, limits and incompatibilities of this dual positioning, drawing on our expertise in banking and financial law. Lawyers and financial investment advisers: a possible ancillary activity Financial regulation has been designed to clarify roles and protect investors. In this context,...
Tax optimisation of sale with right of repurchase: understanding the system and its specific features
Banking and stock exchange law, repurchase agreementsSale with right of redemption is an old legal mechanism, but its subtlety offers financial and asset structuring possibilities that are still relevant today. However, its handling requires a precise knowledge of its tax implications, which can be complex. Far from being a simple, temporary transfer of ownership, this transaction is...The legal regime of the sale with right of repurchase: conditions of validity and detailed effects
Banking and stock exchange law, repurchase agreementsThe sale with right of repurchase of financial securities is an old legal mechanism, provided for in the Civil Code, which offers remarkable flexibility for financing or portfolio management transactions. It is a contract of sale with a specific clause: the seller reserves the right to take back the securities...The legal nature of sale with right of repurchase: definition and essential distinctions
Banking and stock exchange law, repurchase agreementsSale with right of redemption is an ancient legal mechanism, often misunderstood, which offers remarkable flexibility for certain asset or financial transactions. Although it has been governed by the Civil Code for more than two centuries, its exact nature and implications are often the subject of confusion, although it is clearly distinguishable...Sale with right of redemption: a legal and practical guide for professionals
Banking and stock exchange law, repurchase agreementsSale with right of redemption (vente à réméré) is an ancient legal mechanism, often unfamiliar to the uninitiated, which enables the temporary transfer of ownership of an asset while retaining the possibility of buying it back. Although provided for in the French Civil Code, its application in the business world, particularly for financial securities, raises a number of...Transfer and contribution of undivided or stripped shares: legal and tax rules
Equities, Banking and stock market lawThe ownership of shares is not always individual. Inheritance, transfer of assets or joint acquisition can lead to situations where ownership is shared, whether under the joint ownership system or under ownership stripping. Managing these securities is complex enough, but selling or...Undivided shares: rules for exercising rights and impact on company management
Equities, Banking and stock market lawHolding shares in a company can take more complex forms than simple individual ownership. Joint ownership, which frequently arises as a result of inheritance or joint acquisition, is a perfect example. In this form of ownership, several people hold the same shares together, but their rights are not...Dismemberment of share ownership: understanding the rights of the usufructuary and the bare owner
Equities, Banking and stock market lawThe dismemberment of ownership is a widely used asset management and transfer tool, particularly for company directors to organise the succession of their shares. This technique, which consists of separating the usufruct (the right to enjoy the property and receive income from it) from the bare ownership (the...Managing and transferring shares in joint ownership or dismemberment: a comprehensive guide
Equities, Banking and stock market lawOwning company shares may seem straightforward, but the situation becomes more complex when several people have rights to the same shares. Joint ownership, which is often the result of an inheritance, and ownership dismemberment, which is a wealth transfer technique, are two systems that turn managing shares into a real challenge....Autonomous guarantees and counter-guarantees in international banking law: mastering autonomy and conflicts of law
Banking and securities lawAutonomous guarantees and counter-guarantees are fundamental instruments of international trade, offering the security of payment that economic operators value. However, their complex legal nature and the multiplicity of players involved (principal, guarantor, beneficiary, counter-guarantor) create fertile ground for conflicts of law. Determining which law applies...Financing by mobilising international receivables: law applicable to factoring and cession Dailly
Banking and securities lawThe mobilisation of receivables is an essential short-term financing technique for companies' cash flow. By transferring their invoices to a financial institution, they obtain immediate liquidity. However, when this operation involves foreign partners, a tangle of legal rules arises. Determining which national law...Public order and international public policy in banking law: analysis of mandatory provisions
Banking and securities lawInternational banking law is a field in which the contractual freedom of the parties, in particular the choice of the law applicable to their agreement, is a cardinal principle. However, this autonomy is not without limits. There are rules that are so fundamental to the organisation of a State that they apply to everyone, derogating from...Consumer protection in international banking law: derogations and specific features of the Rome I Regulations and the Rome Convention
Banking and securities lawAcquiring banking products or services abroad, whether for credit, investment or simply opening an account, raises a fundamental question for any private individual or company director: what law protects your interests in the event of a dispute? The answer is far from simple, and depends on the...The law of the bank: a determining principle for interbank accounts and transactions in private international law
Banking and securities lawIn the banking sector, every international transaction raises a fundamental question: which national law should apply in the event of a dispute? The complexity of transactions, which cross borders and involve players of different nationalities, makes this question particularly sensitive. To answer this question, private international law has...Choice of law in international banking law: principles and limits of party autonomy
Banking and securities lawThe conclusion of an international banking contract raises a fundamental question: which law will apply in the event of a dispute? The answer determines the interpretation of clauses, the extent of obligations and the outcome of any disputes. In this area, European law enshrines a cardinal principle that gives considerable power to the courts.International banking law: navigating conflicts of law in banking transactions
Banking and securities lawWhen a company or individual carries out a banking transaction with a foreign player, one question quickly arises: in the event of a dispute, which law applies? This question, far from being anecdotal, is at the heart of the legal security of international transactions. The apparent complexity of the rules can be daunting, but understanding them is a...Refusal of a mortgage loan: the essential role of the broker and the evidence required for the suspensive condition
Brokerage, Banking and securities lawObtaining a mortgage is often the last and most stressful stage in the process of bringing a life project to fruition. A bank's refusal may seem like an abrupt halt, but when it comes to buying a property, the legal consequences depend very much on the way in which the search for...Duty to warn and solvency analysis for IOBSPs: deciphering a legal controversy
Brokerage, Banking and securities lawThe intermediary in banking and payment services (IOBSP), more commonly known as a broker, plays a central role in the search for finance for many individuals and businesses. Yet the precise scope of their legal obligations remains a source of legal debate and uncertainty. At the heart of this controversy...Credit brokers' duty to advise (COBSP): scope, limits and penalties in the event of breach
Brokerage, Banking and securities lawWhen 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...IOBSPs: what are their obligations to inform and gather information from their customers?
Brokerage, Banking and securities lawIntermediaries in banking and payment services, better known by their acronym IOBSP, are key players in the financial landscape for many individuals and businesses. Whether they are mortgage brokers or agents, their role is to help you find the right mortgage solutions.Remuneration of IOBSPs and TEG/TAEG: the financial and legal issues for borrowers
Brokerage, Banking and securities lawThe remuneration of a banking and payment services intermediary (IOBSP), whether a broker or agent, is a key issue for any borrower. Far from being a mere technical detail, it has a direct influence on the total cost of credit and can become a source of dispute. The complexity...
EN 
FR