Brokers work in particular in the real estate credit sector (illustration).

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JAUBERT / SIPA

Brokers will soon have a clear framework for working.

The National Assembly approved by show of hands at first reading on Wednesday evening a reform of insurance and banking brokerage.

This bill from the LREM group, very largely inspired by the work of the government, provides in particular for the creation of professional associations responsible for carrying out verification and support missions.

These associations, to which brokers will be required to join, will have to offer a mediation service, ensure that a certain number of professional requirements are respected by their members and offer a support and observation service for the activity and professional practices.

In 2019, the Pacte bill had already attempted to implement this device.

Except that the Constitutional Council had censored him, considering that the article in question served as a “legislative rider”.

An environment "not easy to control"

Expected to see the light of day in April 2022, future associations will have to be approved and controlled by the ACPR, the French supervisor of banking and insurance.

They will play “a role complementary to that of ORIAS, the body managing the single register of intermediaries in insurance, banking and finance, responsible for monitoring compliance with the conditions for access to the profession, and of the ACPR, which controls the quality of contracts and the information and advice obligations ”, specifies the report by Member of Parliament Valéria Faure-Muntian (LREM).

In fact, the brokerage world "is historically not easy to control", brokers being only subject to the control of the Prudential Control and Resolution Authority (ACPR), which "has relatively little information to target its controls on this population, ”points out the report.

However, in recent months, the image of the sector has been damaged by a number of dysfunctions, such as certain commercial practices that do not respect the interests of the client, such as the use of false allegations, breaches of the duty to inform and advice or the lack of consent to the contract.

Sanction

The ACPR, the French banking and insurance supervisor, recently sanctioned a broker for breaches in sales canvassing.

In addition, the construction sector was destabilized in 2018 by the bankruptcy of certain foreign insurers, whose contracts had been marketed by French brokers.

The text must now pass before the Senate Finance Committee on February 3, before being examined in public session in the senatorial hemicycle on February 16.

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