French Insurance Code
In forceI.- Distributors of insurance and reinsurance products and their staff whose activities consist of providing recommendations on insurance or reinsurance contracts, presenting, proposing or helping to conclude such contracts or carrying out other work preparatory to their conclusion, possess, prior to the commencement of their activity, the appropriate knowledge and skills to enable them to carry out their duties and meet their obligations adequately.
II.-Insurance and reinsurance intermediaries and the staff of insurance and reinsurance undertakings as well as the staff of insurance and reinsurance intermediaries carrying out the activities mentioned in I must comply with the requirements in terms of ongoing professional training and development, in order to maintain an adequate level of performance corresponding to the position they hold and the market concerned.
They must be able to demonstrate by any means that they or their staff comply with the requirements applicable to them in terms of ongoing professional training and development.
A decree in the Conseil d'Etat shall specify the terms of this II. (1)
III.-The persons who, within the management structure of the undertakings referred to in I and II, are responsible for the distribution of insurance and reinsurance products, as well as all other persons directly involved in the distribution of insurance or reinsurance, possess the professional knowledge and skills necessary for the performance of their duties.
Insurance and reinsurance intermediaries shall attest to compliance with the applicable requirements in terms of professional knowledge and skills, in accordance with the procedures specified by decree.
