Banking and securities law
The banking monopoly in France: who can carry out banking activities?
By Charlotte GAUCHON28 March 2025If you want to offer loans or collect funds from the public, you are prohibited by law from doing so without authorisation. The banking monopoly, set out in article L. 511-5 of the French Monetary and Financial Code, restricts such operations to authorised institutions, subject to criminal penalties. Here's an overview of the scope, the exceptions and the risks of breaching the law.
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