The banking policeman, the Prudential Control and Resolution Authority (ACPR), called on brokers on Wednesday to be vigilant “as to the new conditions for renewing their registration”, which allows them to exercise.
Since a reform voted in April 2022 and validated by the Constitutional Council in October, insurance and banking brokers must join a professional association.
The objective of the law is to strengthen the French brokerage sector, according to the Treasury, by structuring it around these professional associations, responsible among other things for verifying the conditions of access and exercise of their members.
In this context, the ACPR, the banking watchdog, has called on brokers to submit their association membership application without delay in order to be able to renew their registration with Orias, the body responsible for keeping the register of insurance, banking and banking intermediaries. or crowdfunding.
A month ago, Orias sounded the alarm, already noting a delay for the 2023 renewal.
Any intermediary subject to this new obligation who does not comply with it will be removed from Orias when the renewal closes on February 28, 2023. Consequently, he will no longer be able to distribute the products for which he was registered, nor receive commissions or fees for his remuneration, the organization had recalled.
He had also pointed out that there was a period of instruction, both for joining a professional association, as well as for renewal.