Tax & Finance

#2013-544Regulations on Credit Institutions and Financing Companies

🇫🇷France··Other·Medium Impact·View source ↗

AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.

🇬🇧 English

This law incorporates financing companies into the existing financial regulatory framework. It expands the definition and roles of credit institutions in France to include financing companies, thus subjecting them to similar regulations as other financial entities. The law impacts how these companies operate, receive funds, and engage in various financial activities.

AI-generated summary. May contain errors. Refer to official sources for legal decisions.

Key Changes

  • Inclusion of financing companies in the financial regulatory framework
  • Redefinition of credit institutions to encompass new entities
  • Prohibition on certain fund collection activities by financing companies

Obligations

What this law requires

high

Financing companies must not issue cash bonds (bons de caisse). Any such issuance is prohibited.

Financing companies (sociétés de financement)
prohibition
high

Financing companies may only collect reimbursable funds from the public under conditions fixed by the minister responsible for the economy, provided that the proceeds do not constitute reimbursable public funds as defined in article L. 312-2.

Financing companies (sociétés de financement)
operational
high

Financing companies may perform ancillary operations to their activity limited to those mentioned in items 1, 2, 5, and 6 of Article L. 311-2 I.

Financing companies (sociétés de financement)
operational
medium

Financing companies are subject to regulations on credit facility documentation requirements, including disclosure of the company's legal name in credit agreements and related documentation.

Financing companies (sociétés de financement)
disclosure
high

Financing companies must comply with lending regulations including those on credit facilities, personal guarantees, and documentation requirements previously applicable only to credit institutions.

Financing companies (sociétés de financement)
operational

Affected Parties

Credit InstitutionsFinancing Companies

Tags

finance,regulation,credit