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Book III - Service providers
Title II - Other service providers
Chapter V - Financial investment advisers
Section 2 - Conduct of business rules
Article 325-4 from 31/12/2007 to 07/06/2018

Article 325-4 into force from to

  • Version into force from to
ELI : /en/eli/fr/aai/amf/rg/article/325-4/20071231/notes

Before offering investment advice, the financial investment adviser shall submit a letter of engagement to the client. This letter shall be drawn up in duplicate and signed by both parties.

The letter of engagement shall be drawn up in accordance with a standard agreement drafted by the association to which the financial investment adviser belongs and shall contain, inter alia, the following indications:

  1. acknowledgment by the client that he has received and read the document mentioned in Article 325-3;

  2. the nature of and arrangements for the service to be provided, the description of which is suited to the client's status as an individual or legal entity and to his principal characteristics and motivations;

  3. the means by which information is to be given to the client, specifying the special arrangements for reporting on the advisory activity and for updating the information mentioned in points 3° and 4° of Article 325-3 whenever the relationship is expected to be a lasting one;

  4. the terms and conditions of remuneration of the financial investment adviser, specifying the calculation of the fees charged for the advisory service and, where applicable, the existence of any remuneration received from institutions mentioned in point 4° of Article 325-3 in respect of products acquired pursuant to advice given by the adviser.

A signed copy of the letter of engagement shall be remitted to the client.