Subsection 1: Disciplinary procedure

Articles in this section · 19

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Article R612-38

French Monetary and Financial CodeIn force
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Updated 5 Nov 2023

I. - The chairman of the Enforcement Committee appoints a rapporteur from among the members of the Committee or, if one of them waives participation at all stages of the proceedings in the Committee's work on the notified objections, from among their alternates. The Chairman informs the respondent and the representative of the Supervisory Board or the Resolution Board provided for in Article L. 612-38 of this decision in accordance with the procedures set out in I of Article R. 612-9.

The fact that the rapporteur is excluded from the deliberations, in accordance with the provisions of Article L. 612-38 of the Monetary and Financial Code, does not in itself constitute a reason making it necessary to appoint an alternate.

In accordance with the procedures set out in Article R. 612-9, I, the rapporteur informs the respondent of the period of time it has, which may not be less than thirty clear days from receipt of the statement of objections, to submit its written observations on the objections to the chairman of the Enforcement Committee.

The chairman of the Enforcement Committee shall take all necessary steps and may, in particular, hear any person he deems necessary. Its summonses are sent in accordance with the procedures set out in I of Article R. 612-9. The accused party may be heard by the rapporteur at his request.

The rapporteur communicates the documents in the case file to the parties, in particular to the representative of the supervisory board or the resolution board referred to in Article L. 612-38.

If the rapporteur considers that the objections need to be supplemented or are likely to be notified to one or more persons other than those accused, he shall refer the matter to the supervisory board or the resolution board. The Supervisory Board or the Resolution Board shall rule on the rapporteur's request in accordance with the conditions and procedures set out in Articles L. 612-12, L. 612-13 and L. 612-38.

In the event of a supplementary statement of objections, the respondent is given at least thirty clear days to present its observations in response.

II. - The rapporteur sends his written report to the respondent and to the representative of the supervisory board or the resolution board referred to in Article L. 612-38 in accordance with the procedures set out in I of Article R. 612-9.

Mariela Petrova

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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.

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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.

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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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