Right to practise
Applicants must register and obtain a confirmation from the AMF to be authorized to pursue activities through certified representatives.
They may pursue activities as:
- a firm
- an independent partnership
- an independent representative
Firms and independent partnerships must obtain authorization to act through duly certified representatives. For this purpose, they must register with the AMF. Similarly, independent representatives who wish to act on their own behalf must register to confirm how they intend to carry on business.
General conditions for registration
Firms and independent partnerships seeking the right to practise must obtain confirmation of their registration from the AMF, i.e., an authorization to act through duly certified representatives.
Pursuing activities as a firm
A firm pursues activities through certified representatives. The firm may act in one or several sectors. A representative may be attached to his or her own firm and thus be its main shareholder and director.
To be authorized to carry on activities, the firm must submit the following application for registration to the AMF.
Pursuing activities as an independent partnership
An independent partnership is made up of certified representatives who are grouped together under a general partnership. The representatives who are part of this partnership pursue their activities as employees or partners.
To be authorized to pursue activities, the independent partnership must follow the same procedure as for firms.
Pursuing activities as an independent representative
Individuals may pursue activities as independent representatives in one or more sectors other than the securities sector. Independent representatives are not attached to a firm. They are also not partners or employees of an independent partnership.
To be licensed to practice as an independent representative, individuals must apply to the AMF using the following form:
Maintenance of registration
Unlike representatives' certificates, registration does not have any expiry date. It is valid for as long as it has not been cancelled, suspended or subjected to certain conditions.
However, registrants (independent representatives, firms, independent partnerships) must maintain their registration every year, that is, they must send to the AMF, using the maintenance of registration form, an update of the information already submitted. The purpose of the annual maintenance of registration is therefore to verify whether the independent representative, the firm or the independent partnership still meets the various conditions for registration.
For independent representatives, maintenance of registration takes place at the same time as the renewal of their representatives' certificates.