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Book III - Service providers
Title II - Other service providers
Chapter V - Financial investment advisers
Section 2 - Conduct of business rules
Sub-section 2 - Entering into a new client relationship
Article 325-5 from 01/01/2023

Article 325-5 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/325-5/20230101/notes

When establishing a relationship with a new client, the financial investment adviser shall give the client a document including the following references:

  1. The adviser's name or company name, business address or address of the registered office, status as a financial investment adviser and registration number in the register mentioned in I of Article L. 546-1 of the Monetary and Financial Code;

  2. The name of the professional association to which the adviser belongs;

  3. Where applicable, the adviser's capacity as a direct marketer and the identities of the principals for which the adviser carries on a direct marketing business;

  4. If the financial investment adviser is likely to provide investment advice on an independent basis, a non-independent basis, or a combination of the two. This indication shall be accompanied by an explanation concerning the scope of this advice and about the remuneration paid to the financial investment adviser. Where the advice is likely to be offered or provided to the same client on an independent and non-independent basis, the financial investment adviser shall explain the scope of these two services to enable investors to distinguish them, and shall not present itself as an independent investment adviser as regards its overall activity;

  5. Where applicable, the name(s) of any institution(s) promoting products mentioned in Point 1° of Article L. 341-3 of the Monetary and Financial Code in which the adviser has a material ownership or commercial interest;

  6. Where applicable, any other regulated status that the adviser holds;

  7. The methods of communication to be used between the financial investment adviser and the client;

  8. If applicable, a description of sustainability factors within the meaning of Point 24 of Article 2 of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 taken into account in the selection process of financial instruments.