French Monetary and Financial Code
In forceI. - The persons referred to in 13° of Article L. 561-2 are subject to the provisions of this chapter when, in the course of their professional activity:
1° They participate in the name and on behalf of their client in any financial or real estate transaction or act in a fiduciary capacity ;
2° They assist their client in the preparation or execution of transactions concerning :
a) The purchase and sale of real estate or business assets;
b) The management of funds, securities or other assets belonging to the client;
c) Opening bank, savings or securities accounts or insurance contracts;
d) Organising the contributions required to set up companies;
e) Setting up, managing or directing companies;
f) Setting up, managing or directing trusts governed by articles 2011 to 2031 of the Civil Code or by foreign law, or any other similar structure;
g) Setting up or managing endowment or sustainability funds;
3° They provide, directly or through any intermediary to which they are linked, tax advice.
II. - Avocats au Conseil d'Etat et à la Cour de cassation, avocats and the persons mentioned in 18° of Article L. 561-2 in the exercise of an activity mentioned in I are not subject to the provisions of Section 4 of this Chapter and Article L. 561-25 when the activity relates to legal proceedings, whether the information in their possession is received or obtained before, during or after such proceedings, including in the context of advice on how to initiate or avoid such proceedings, or when they provide legal advice, unless it has been provided for money laundering or terrorist financing purposes or with the knowledge that the client is requesting it for money laundering or terrorist financing purposes.
III. - The other persons mentioned in 13° of Article L. 561-2, when carrying out an activity relating to the transactions mentioned in I, shall not be subject to the provisions of section 4 of this chapter when they provide legal advice, unless it has been provided for the purposes of money laundering or terrorist financing or with the knowledge that the customer is requesting it for the purposes of money laundering or terrorist financing.
IV. - Chartered accountants and employees authorised to practise the profession of chartered accountant pursuant to articles 83 ter and 83 quater of Order no. 45-2138 of 19 September 1945 establishing the Ordre des Experts Comptables and regulating the title and profession of chartered accountant are not subject to section 4 of this chapter when they provide legal advice in accordance with article 22 of the aforementioned Order, unless such advice has been provided for the purposes of money laundering or terrorist financing or in the knowledge that the client is requesting it for the purposes of money laundering or terrorist financing.
V. - In the performance of the duties entrusted to them by court order, judicial administrators, judicial representatives and judicial auctioneers are subject to the provisions of this chapter, provided that these are compatible with their mandate. The client is understood to be the person concerned by the proceedings and, where applicable, the person who acquires the property offered for sale or who makes an offer to take over all or part of the business.
VI. - A. - The ACPR shall ensure compliance with the provisions of the regulatory technical standard adopted pursuant to Articles 45.9 and 45.10 of Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing for the appointment of the permanent representative by the persons mentioned in 1°c of Article L. 561-2 and the duties entrusted to that person. A decree shall specify the conditions under which the ACPR shall ensure compliance with these provisions.
B. - The duties of the permanent representative are performed by a person specially appointed for this purpose.
The permanent representative shall, in the name and on behalf of the person referred to in 1°c of Article L. 561-2, make the declarations and provide the information required by Articles L. 561-15 and L. 561-15-1 and declare the implementation of a measure taken pursuant to Chapter 2 of this Title or a regulation adopted on the basis of Articles 75 or 215 of the Treaty on the Functioning of the European Union. It shall respond to requests made by the department referred to in Article L. 561-23 pursuant to this Chapter, as well as to any request from the Autorité de contrôle prudentiel et de résolution, the authority responsible for implementing measures taken pursuant to Chapter II of this Title or a regulation adopted on the basis of Articles 75 or 215 of the Treaty on the Functioning of the European Union, as well as from the judicial authority and criminal investigation officers.
