Knowledge Base

Which investment services require authorization under Article L.321-1 of the Code monetaire et financier? (Select all correct answers)

Reception and transmission of orders on behalf of third parties

Account-keeping and custody

Portfolio management on behalf of third parties

Investment research

Which body is responsible for granting authorization to investment service providers in France?

The AMF only

The ACPR only

The ACPR and the AMF jointly

The Banque de France

What is the specific condition regarding shareholding for holders of qualifying holdings?

Must be French residents

Must hold at least 25% of the capital

Are subject to a quality assessment if their holding reaches or exceeds 10%

Cannot be legal entities

What are the applicable timelines for processing an outbound European passport? (Select all correct answers)

1 month for freedom to provide services (FPS)

3 months for a branch

6 months for any application

4 months for authorization extensions

The minimum capital requirement for an investment firm providing only investment advice is 730,000 euros.

True

False

Categorize items by dragging them to the appropriate zones

Items to categorize:

Registered office located in France

Minimum initial capital endowment set by ministerial order

Effective management by two persons of good repute and competence (for branches)

Minimum capital of 730,000 euros

Categories:

General authorization conditions

Branch-specific conditions

Maximum duration for the initial authorization decision including advisory or portfolio management services

Click to see answer

Authorization can be withdrawn if the firm has been inactive for at least 6 months.

True

False