Banking and securities law
Banker's liability for the safe-deposit box: obligations, proof and grounds for exemption
By Raphaël MORENON12 August 2025Renting a safe deposit box from a bank is often seen as the ultimate in security for your most precious possessions. This confidence is based on the image of solidity and inviolability projected by banking establishments. However, in the event of a loss, theft or simple inability to access their valuables, customers can find themselves at a loss and faced with a complex process to have their loss recognised. The relationship between you and your bank in this context is not a simple lease; the entire legal framework of the bank safe deposit box contract is a specific construction, largely shaped by case law, which imposes far more onerous obligations on the banker than on a traditional lessor. Our firm, which specialises in banking liability litigation, can help you decipher the mechanisms of this liability, the challenges of proof and the defences available to the bank. The...
The bank del credere, a little-known but effective guarantee
Banking and stock exchange law, DucroireIn the business world, the fear of non-payment is a constant preoccupation for all sellers. There are a number of guarantees available to secure commercial transactions, but one of them, del credere, is often overlooked despite its effectiveness. Based on a long tradition in commercial law, this technique transfers the risk of non-payment...The end of the banking relationship: account closure and its legal consequences
Bank account, Banking and stock market lawA bank account is closed sooner or later. By choice, necessity or legal constraint. This breach of contract has legal consequences that customers are often unaware of. From imposed notice periods to questionable charges and accounting liquidation, closing an account follows a regulated process. Causes of account closure Any banking relationship may be terminated...The Banque de France's other public-interest missions
Banking and securities lawThe role of the Banque de France, an institution whose capital is owned by the State, goes far beyond that of a simple central bank. While its integration into the European System of Central Banks (ESCB) in 1998 redefined the scope of its activities, it retains a number of public-interest missions that are specific to the French context....Misleading commercial practices and borrower protection
Banking and securities lawThe legal framework for misleading commercial practices The marketing of complex financial products is governed by a law that allows borrowers to challenge contracts concluded on the basis of misleading information. Article L.121-1 of the French Consumer Code provides the basis for this protection in respect of commercial practices...Circulation of information covered by banking secrecy
Banking and securities law, Banking secrecyBanking secrecy, the cornerstone of the relationship of trust between a bank and its customer, is governed by article L. 511-33 of the French Monetary and Financial Code. This principle protects confidential information entrusted to the bank. However, the growing complexity of financial transactions and the need to combat certain types of fraud have...Public bodies and banking secrecy
Banking and securities law, Banking secrecyMany public bodies have access to data covered by banking secrecy under strictly regulated conditions. Here is a detailed analysis of the prerogatives of these public bodies. 1 The Court of Auditors and regional audit chambers The Court of Auditors and regional audit chambers have extensive powers to...When banking secrecy disappears: due diligence obligations and the fight against money laundering
Banking and securities law, Banking secrecyBanking secrecy, often perceived as a pillar of the relationship between a bank and its customer, is not in fact an impenetrable fortress. Although it protects the confidentiality of financial information, French law provides for numerous situations in which this secrecy must give way to the demands of...When regulators poke holes in banking secrecy: the state of play
Banking and securities law, Banking secrecyBanking secrecy is not the airtight safe that some people think it is. Although this principle protects the confidentiality of customers' financial information, there are many exceptions to it, particularly when it comes to the regulatory authorities. The latter have extensive prerogatives to access banking data as part of their duties...Exceptions to banking secrecy for judicial and tax authorities
Banking and securities law, Banking secrecyClosed doors, locked safes, sealed registers... The principle of banking secrecy seems impenetrable. Yet it is not absolute in France. The law provides for a number of situations in which this secrecy must give way, particularly in the face of certain public authorities acting in the public interest. Understanding these exceptions is essential for customers...Understanding banking secrecy in France
Banking and securities law, Banking secrecyBanking secrecy is often seen as a bulwark against curiosity, including that of the state. This ancient principle, whose origins go back to centuries-old commercial practices designed to protect business confidentiality, was not formally enshrined in France until 1984. It is, however, less protective than might be thought...Financial packages and indivisibility of transactions
Banking and securities lawThe concept of indivisibility in financial arrangements Indivisibility allows contracts that are formally distinct but economically interdependent to be considered as a whole. It is a decisive factor in financial transaction litigation, particularly when a borrower seeks to challenge a package. Indivisibility refers to the idea that several contracts form an indivisible whole,...Bank liability for cheque anomalies: developments and limits
Banking and securities law, Banking liabilityCheques continue to raise pertinent legal questions in terms of banking liability. The ruling handed down by the Commercial Chamber of the French Supreme Court on 5 March 2025 clarifies the scope of banks' duty of vigilance with regard to the detection of apparent anomalies on cheques. This decision...The banker's liability
Banking and securities law, Banking liabilityIn their relationship with their customers, bankers are subject to a set of obligations and responsibilities, the contours of which have gradually been defined by case law and the law. This banking responsibility is based mainly on two essential concepts: the duty of vigilance and the duty to warn, which are supplemented by the...Financial engineering and banking liability
Banking and securities law, Banking liabilitySophisticated financial arrangements, often referred to as financial engineering, have become commonplace in the banking world. While they offer opportunities, they also entail significant risks, both for customers and for lending institutions. Understanding the mechanisms at play and the...Bank liability for financial engineering
Banking and securities law, Banking liabilityFrench banking law has undergone significant changes in recent years, particularly with regard to financial engineering. Faced with increasing litigation relating to structured loans and complex financial arrangements, case law has gradually defined a framework for assessing a banker's liability. Understanding this framework is...Bank liability as an investment services provider
Banking and securities law, Banking liabilityInvestment services providers (ISPs) are subject to a separate liability regime, with enhanced professional obligations Explanation.Fake bank advisor fraud
Banking and securities lawHave you been scammed by a bogus bank adviser? Here's how to defend yourself.Blocked bank account after death: operation and deadline
Banking and securities lawHow long does it take for a bank account to be blocked following the death of the account holder? The question of what happens to one or more bank accounts in the event of death is far from rhetorical, and can be a determining factor not only for the heirs, but also for the...Contentious withdrawal: how does it work in 2024?
Banking and securities lawLitigious withdrawal, a mechanism provided for in Article 1699 of the Civil Code, is a powerful but often misunderstood right. It allows a debtor to buy back his own debt for a fraction of its face value when it has been assigned by his original creditor to another company. For example:...What is factoring? Definition, limits, disputes
Factoring, Banking and stock exchange lawFactoring is a popular financial solution for companies faced with long payment terms. This complex legal mechanism combines short-term financing, a guarantee against non-payment and accounts receivable management. Its implementation requires a precise understanding of its legal and financial implications. Understanding factoring...
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