Subsection 5: Penalties

Articles in this section · 6

Article L621-15-2

French Monetary and Financial CodeIn force

Updated 7 Nov 2023

Where an institution mentioned in Article L. 370-1 of the Insurance Code and offering the operations mentioned in Articles L. 3334-1 to L. 3334-9 and L. 3334-11 to L. 3334-16 of the Labour Code has breached one of the provisions mentioned in the second paragraph of Article L. 370-2 of the Insurance Code, the Autorité des marchés financiers, on its own initiative or following a referral from the competent authorities, shall immediately notify the competent authority of the State in which the institution is authorised of the infringement and request it, in cooperation with the supervisory authority, to take the necessary measures to put an end to the infringement.

If, two months after this notification, the infringement persists, the AMF may initiate sanction proceedings against the institution in accordance with the procedures set out in Article L. 621-15. The penalties applicable are those referred to in Article L. 621-15 (III, a).

The AMF may decide to postpone its decision to initiate sanction proceedings until it has given the institution a period in which to take all measures necessary to put an end to the infringement.

Mariela Petrova

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Common Questions

Working with a corporate lawyer in France — Q&A

Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

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