Banking Operations and Payment Services Broker

To operate as a banking and payment services broker (courtier IOBSP) in France, you must register with ORIAS. Brokers fall under IOBSP category 1, which requires completion of 150 hours of initial training or a qualifying diploma. You must also hold professional liability insurance and provide a financial guarantee if you handle client funds.

Since April 2022, membership in a professional association approved by the ACPR is mandatory. ORIAS registration is renewed annually, and you must complete 15 hours of continuing education each year. Your business must be registered with the RCS (registre du commerce et des sociétés). The ACPR supervises all banking intermediaries and can conduct inspections.

Qualifications and Training

  • Required capacity: Level I-IOBSP determined by Orias for primary practice
  • Qualification options: Level II degree (bachelor's) in economics/law/finance/banking/insurance/accounting, OR approved business school diploma, OR 2 years management experience, OR 4 years experience, OR 150-hour professional internship
  • Internship: Completed with a credit institution, payment institution, insurance company, finance company, electronic money institution, or training organization
  • EU/EEA training: Supplemented by 3-month adaptation period + 28-hour training
  • Cost: Paid training

Registration and Obligations

  • Orias registration: Mandatory for brokers offering mortgage loans. Online account + file (KBIS extract <3 months, proof of capacity, financial guarantee certificate if collecting funds, €30 fee, operations declaration)
  • Renewal: Annual before January 31st. Inform Orias 1 month before any change. Professional liability and financial guarantee certificates
  • Exemption: Accessory activity not exceeding 20 operations/year or €200,000/year
  • Professional liability insurance: Mandatory to cover damages caused to others
  • Financial guarantee: If collecting funds, minimum €115,000 or double the average monthly amount over 12 months
  • Continuing education: 7 hours/year for mortgage loans
  • Penalties: Non-compliance: 2 years and/or €6,000. False registration declaration: 3 years and/or €375,000

EU/EEA Nationals (mortgage loans only)

  • LPS and LE: Reserved for brokers offering mortgage loans. Inform home State register which transmits to Orias
  • Specific training: Specialized 14-hour mortgage loan module required
  • Information to provide: Name, address, registration number, State of practice, category (broker), relevant branches
  • Time limit: Home State register has 1 month to communicate. National can start 1 month after notification