Section 2: The High Council for Financial Stability

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Article L631-2

French Monetary and Financial CodeIn force

Updated 7 Nov 2023

The High Council for Financial Stability is composed of eight members:

1° The Minister for the Economy, Chairman ;

2° The Governor of the Banque de France, Chairman of the Autorité de contrôle prudentiel et de résolution, assisted by the Vice-Chairman of this authority;

3° The Chairman of the Autorité des marchés financiers;

4° The Chairman of the Autorité des normes comptables;

5° Three qualified persons appointed, for a period of five years, for their expertise in monetary, financial or economic matters, by the President of the National Assembly, the President of the Senate and the Minister for the Economy respectively.

Appointments of qualified persons respect the principle or, failing that, the objective of parity between men and women within the High Council. If compliance with this principle requires the appointment of one woman and two men or two women and one man, lots will be drawn to determine whether the person to be appointed by each of the three authorities mentioned in 5° is a woman or a man. The procedures for implementing this paragraph are determined by decree in the Conseil d'Etat.

When convened by its Chairman, the High Council meets at least four times a year and as required.

Mariela Petrova

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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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