Banking and securities law
Access to financial investment adviser (FIA) status: conditions and procedure
By Raphaël MORENON12 August 2025The status of financial investment adviser (FIA) is a regulated profession, access to which and the exercise of which are subject to strict conditions defined by the Monetary and Financial Code. The main purpose of these regulations is to ensure the protection of investors and the stability of the financial system. To become a FIA, it is essential to meet a number of cumulative conditions, relating to good repute, competence, responsibility and membership of a recognised professional framework. This article details the requirements for obtaining and maintaining this status, based on the complete legal guide to financial investment advisers (FIAs). Compulsory status: the need to comply with the legal requirements Access to the profession of financial investment adviser is not simply an option, but a legal requirement for anyone habitually engaged in the business of investment advice, as defined by article L. 541-1 of the French Monetary and Financial Code....
Banking and payment services intermediaries (IOBSP): a comprehensive guide to their legal obligations and case law
Brokerage, Banking and securities lawIndividuals and businesses wishing to obtain credit or optimise their banking services often turn to an intermediary in banking and payment services (IOBSP). Whether acting as a broker or agent, this professional facilitates the relationship between you and the financial institutions...Non bis in idem and AMF sanctions: combining criminal and administrative proceedings
AMF, Banking and securities lawThe legal principle that no one can be tried or punished twice for the same acts, known as "ne bis in idem", is a fundamental guarantee in our legal system. It protects individuals from being punished twice for the same behaviour. However, its application in...Appealing AMF sanctions: understanding judicial review and appeal procedures
AMF, Banking and securities lawFor a complete overview of the AMF's remit, sanction categories and enforcement procedures, please consult our comprehensive guide to the AMF's sanctioning powers. When the Autorité des Marchés Financiers (AMF) issues a sanction decision, it is legitimate to ask what avenues are available to...AMF sanction procedure: deciphering the key stages for professionals
AMF, Banking and securities lawThe sanction procedure of the Autorité des marchés financiers (AMF) is a major issue for professionals in the financial sector. The AMF has extensive powers to ensure that markets operate smoothly, that savings are protected and that investors are properly informed, whether they are natural persons or legal entities. To find out more...AMF sanctions: distinction and scope of administrative and disciplinary powers
AMF, Banking and securities lawThe French financial sector is a complex ecosystem, whose stability and investor protection are ensured by one major player: the Autorité des marchés financiers (AMF). This independent public body has extensive powers to regulate markets, supervise professionals and, where necessary, impose penalties.The AMF's sanctioning powers: a comprehensive guide for financial market participants
AMF, Banking and securities lawThe Autorité des marchés financiers (AMF) plays a key role in regulating France's financial markets. Its mission is to protect investors' savings, provide them with transparent information and ensure the smooth operation of these markets. To achieve these objectives, the AMF has the power to impose sanctions...Concerted action and joint control: applications in common law
Concerted action, Banking and stock exchange lawLong associated with the world of the stock market and takeover bids, concerted action has gradually found its way into ordinary company law. This development, although discreet, is profoundly changing the way we analyse the balance of power within companies, whether listed or not. The key to this transformation...Concerted action and takeover bids: obligations and strategies during the offer period
Concerted action, Banking and stock exchange lawThe announcement of a takeover bid triggers a period of high tension for the companies concerned, their directors and shareholders. At the heart of these strategic transactions lies a fundamental concept of stock market law: action in concert, which can exist even without a formal agreement. A misinterpretation of its mechanisms...Legal presumptions of concerted action: cases and consequences
Concerted action, Banking and stock exchange lawProving the existence of action in concert is often a tricky business. By its very nature, an agreement between several shareholders to implement a common strategy is rarely formalised by an explicit contract. To thwart creeping takeovers and ensure transparency on the financial markets, the legislator has therefore...Legal definition of concerted action: analysis of article L. 233-10
Concerted action, Banking and stock exchange lawFar from being a mere theoretical concept, acting in concert is a legal and strategic reality at the heart of company and stock market law. It refers to the situation where several individuals or legal entities coordinate their efforts to implement a common strategy with regard to a company. Article L....The origins and development of the concept of action de concert in France
Concerted action, Banking and stock exchange lawConcerted action is a key concept in stock market and company law. Often perceived as complex, it refers to the situation where several people, usually shareholders, coordinate to implement a common strategy with regard to a company. Understanding the origins and development of this concept...Concerted action in French law: understanding its mechanisms and implications
Concerted action, Banking and stock exchange lawConcerted action is a central concept in business law, often perceived as technical and reserved for large-scale financial transactions. It is, however, a mechanism whose purpose and implications extend far beyond the stock markets to reach the very heart of company law. An action in concert...The legal framework for bank transfers: the customer's rights and the bank's obligations
Banking and securities law, Credit transfersThe bank transfer is now an essential tool for individuals and businesses alike, making it easier to exchange money on a daily basis. Whether you are paying rent, settling a supplier invoice or transferring funds to a relative, the apparent simplicity of bank transfers masks a specific legal framework. Understanding the rights and obligations...Deadlines and liability in the event of a non-executed or delayed transfer
Banking and securities law, Credit transfersBank transfers, which have become everyday tools for individuals and businesses, are based on precise legal mechanisms. However, sometimes a transfer is not carried out correctly or is delayed, raising questions about the applicable deadlines and the liability of banks. Understanding these rules is essential to...Due diligence obligations of the bank in the case of an international transfer
Banking and securities law, Credit transfersInternational credit transfers are commonplace in a globalised world, but they expose users and banks to increased risks, particularly in terms of fraud and money laundering. In view of these challenges, banks are subject to specific obligations of vigilance, reinforced by the...Blocking and disputing a bank transfer: what legal steps should be taken?
Banking and securities law, Credit transfersWhen faced with a suspicious or unsolicited bank transfer debited from your account, responsiveness is essential. Whether it's a transaction you've never authorised, an error in the amount or a direct debit whose legitimacy you dispute, there are legal steps you can take to assert your rights. Understanding the distinction...Bank liability in the event of a fraudulent transfer: what recourse do customers have?
Banking and securities law, Credit transfersThe dematerialisation of banking and the proliferation of online transactions have unfortunately paved the way for an upsurge in fraud, particularly fraudulent transfers. Whether individuals or businesses, no-one is immune to these sophisticated schemes, which can cause considerable financial damage. When the irreparable happens...Sharing banking secrecy without client consent: the 7 legal exceptions
Banking and securities law, Banking secrecyBanking secrecy is a fundamental obligation, the basis of trust between a financial institution and its customer. This principle, which is protected by law in France, is not absolute. The Monetary and Financial Code itself provides for specific situations where the sharing of confidential information with a third party...Bank-client conflict of interest: identifying and managing the risks
Conflicts of interest, Banking and securities lawThe relationship between a bank and its customer is based on the fundamental principles of loyalty and trust. However, the very nature of banking activities, which are many and sometimes divergent, can lead to situations where the bank's interests conflict with those of its customer. These conflicts...Banking secrecy and tax authorities: your rights and their limits
Banking and securities law, Banking secrecyBanking secrecy, long considered an essential protection of privacy and business, is seeing its boundaries redefined in the face of the growing prerogatives of the tax authorities. While the principle remains that information held by your bank is confidential, the law provides for a number of exceptions allowing the tax authorities access to this information...
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