Article 441-1 into force from 11 May 2017 to 07 February 2020

The person cited in point 1° of section I and in section II of Article L. 550-1 of the Monetary and Financial Code, who takes the initiative for transactions involving intermediation in miscellaneous property, and the persons cited in points 2° and 3° of section I of the same article, shall demonstrate that their organisation, fitness and properness, skills and experience, are adequate and suited to the nature of the transactions. They must demonstrate that they have purchased a professional liability insurance policy suited to the risks involved in these activities from an insurance company authorised to do business in France.

They must act solely in the interests of their investors and may not perform any business activity that could create conflicts of interest that may be detrimental to the interests of their investors.