Section 5: Bank staff

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L142-9

Article L142-9

French Monetary and Financial CodeIn force
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Updated 8 Nov 2023

Banque de France employees are bound by professional secrecy.

They may not take or receive a holding or any interest or remuneration whatsoever by way of work or advice in any public or private, industrial, commercial or financial undertaking, unless an exemption is granted by the Governor. These provisions do not apply to the production of scientific, literary or artistic works.

The General Council of the Banque de France shall determine, in accordance with the conditions laid down in the third paragraph of Article L. 142-2, the rules applicable to Banque de France employees in areas where the provisions of the Labour Code are incompatible with the Bank's Staff Regulations or the public service tasks entrusted to it.

Permanent staff governed by these regulations and recruited before 1 September 2023 are affiliated to a special pension scheme governed by Article L. 711-1 of the Social Security Code.

2° of II of Article L. 2312-8, Articles L. 2312-42 to L. 2312-48 and L. 2312-50 of the Labour Code and Articles L. 2312-63 to L. 2312-67 and L. 2312-81 of the same code do not apply to the Banque de France. Article L. 2312-81 of the Labour Code does not apply to legal entities governed by private law over which the Banque de France exercises a dominant influence within the meaning of Article L. 2331-1 of the same code.

The provisions of Chapter II of Title I of Book III of Part Two of the same Code other than those listed in the previous paragraph are applicable to the Banque de France only in respect of those tasks and other activities which, pursuant to Article L. 142-2 of this Code, fall within the remit of the General Council.

The social and economic committee and, where applicable, the establishment social and economic committees of the Banque de France may only call upon the expert referred to in articles L. 2315-88, L. 2315-87, L. 2315-91 and L. 2315-92 of the Labour Code when the procedure provided for in articles L. 1233-29 and L. 1233-30 of the same code is implemented.

The conditions under which articles L. 2312-78 and L. 2312-84 of the same code apply to the Banque de France are set by a Conseil d'Etat decree.

Mariela Petrova

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Common Questions

Working with a corporate lawyer in France — Q&A

Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

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