Subsection 2: Cooperation and exchanges of information with the authorities of other Member States of the European Union or other States party to the Agreement on the European Economic Area

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Article L632-1

French Monetary and Financial CodeIn force

Updated 7 Nov 2023

Notwithstanding the provisions of Act 68-678 of 26 July 1968 on the disclosure of economic, commercial, industrial, financial or technical documents and information to foreign natural or legal persons, the Autorité de contrôle prudentiel et de résolution and the Autorité des marchés financiers shall cooperate with the European Central Bank, the authorities of other Member States of the European Union or of other States party to the Agreement on the European Economic Area exercising similar functions, under the conditions laid down in this chapter. In particular, they shall exchange with the latter authorities the information necessary for the performance of their respective duties. When an emergency situation likely to threaten the stability of the financial system of another Member State of the European Union or another State party to the Agreement on the European Economic Area so warrants, they are also authorised to exchange any necessary information with the ministries of these States in charge of the financial sector, in compliance with the rules laid down in this article, Article L. 631-1 and Articles L. 632-2 to L. 632-4.

The cooperation provided for in the first paragraph may not be refused on the grounds that the acts to which the inspection or investigation relates do not contravene a legislative or regulatory provision in force in France.

A decree of the Conseil d'Etat shall specify the procedures for applying this article.

This cooperation shall take place in particular with a view to facilitating the recovery of financial penalties.

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

English · French · Russian

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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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