Knowledge Base

← French, European, and International Institutional and Regulatory Framework

Questions

Which article of the Code monétaire et financier requires Financial Investment Advisers to take out professional liability insurance?

L.541-1
L.541-2
L.541-3
L.541-4

Which article of the Code monétaire et financier prohibits CIFs from receiving client funds other than those intended to remunerate their activity?

L.541-3
L.541-6
L.541-9
D.541-9

What is the minimum professional liability insurance coverage for a legal entity employing two or more staff members according to Article D.541-9?

€150,000 per claim and per year
€300,000 per claim and €600,000 per year
€450,000 per claim and €900,000 per year
€500,000 per claim and €1,000,000 per year

What is the minimum financial guarantee amount required for an IOBSP or IAS broker handling client funds?

€30,000
€115,000
€300,000
€600,000

The financial guarantee protects funds entrusted by clients, while professional liability insurance covers damages caused by professional activity.

True
False

Date of application of the DORA regulation

Click to see answer

Contractual clauses with ICT providers must be strengthened in accordance with DORA requirements.

True
False

Categorize items by dragging them to the appropriate zones

Items to categorize:

Bodily injury caused to a client
Intentional misconduct
Error in client situation analysis
Deliberate non-compliance with AMF rules
Categories:

Risks covered by PII

Typical exclusions