French Monetary and Financial Code
In forceI. - Before concluding any banking transaction or payment service or any preparatory work or advice, the intermediary must agree with his customer, including any potential customer, in writing or on another durable medium, any charges and, where applicable, the remuneration due to him.
Where the banking transaction relates to a credit agreement as defined in article L. 313-1 of the Consumer Code, the intermediary shall specify whether he receives any remuneration for this transaction from the credit institution, finance company, payment institution, electronic money institution, insurance company in respect of its lending activities or management company in respect of its FIA management activities referred to in Article L. 511-6 and the amount or, if this amount is not known, the method of calculation.
Where the agreement relates to a credit transaction, the intermediary shall remind the customer of the terms of article L. 519-6.
II. - Where the intermediary provides an independent advisory service as referred to in Article L. 519-1-1 and before concluding the contract for the provision of this service, the intermediary shall inform the customer, including the potential customer, in writing or on another durable medium, of the amount of the fees that the customer will have to pay, where applicable, or, if this amount cannot be determined with certainty at the time the information is provided, how it will be calculated.
III. - The banking and payment services intermediaries mentioned in 2° and 3° of I and III of article R. 519-4 and their agents mentioned in 4° of the same I shall disclose, at the request of the customer or potential customer, any direct or indirect holding of more than 10% of the voting rights or capital that they have in a credit institution, finance company, payment institution, electronic money institution that provides payment services, participative finance intermediary, insurance company in the context of its lending activities or management company in the context of its FIA management activities mentioned in Article L. 511-6.
