Regulatory

Monaco

The 2008 global financial crisis caused European and national authorities to rush to regulate the banking and finance sectors. In recent years, a body of soft law has emerged that is supervised by a range of regulatory authorities responsible for ensuring compliance.

It has become increasingly difficult for banks and financial institutions to identify and comply with their statutory and regulatory obligations, even more so in Monaco where operators are subject to legislation and regulations from multiple sources, which often complement each other but sometimes compete with each other.

While Monegasque rules have remained quite stable, French and European texts applicable in Monaco can raise very specific issues.

Our banking and finance team has sound expertise in understanding and resolving the issues that are inherent to the unique architecture of Monaco's banking and finance regulations.

Our expertise covers all the regulatory matters that operators will encounter on Monaco's financial market: banking agreements between France and Monaco, monetary agreements between Monaco and the European Union, banking monopolies, bank secrecy and its implications at group level, relations between a Monegasque bank and its parent company, the SEPA agreement, anti-money laundering and anti-terrorist financing measures and personal data protection.

We also offer our clients training sessions and presentations in response to a specific need or as part of their legal & regulatory monitoring policies.

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