Particularities of the Monegasque banking sector seen as competitive advantages

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Particularities of the Monegasque banking sector



A favourable legislation

The management, transmission and advisory activity concerning stocks and forward financial instruments are regulated in the Principality by the law dated 9 July 1997. This legal text guarantees protection of savers and investors. It is without a doubt the reason why international financial institutions have established themselves in Monaco in order to develop their activities in the field of financial management and financial investments. This development takes nevertheless place in a context of great security, as on top of all current measures, this law has created a Control Commission.

The Monegasque mutual investment funds

In this field, certain institutions can derogate to the regulation on risk sharing, thanks to a flexible legislation.

A will to confirm the international character of the financial sector

The development of the Monegasque financial market is characterized by the increasing internationalisation of its actors.
It is important not to ignore the importance of the local banks.
The local banks are yet another vehicle for the dynamism of the Monegasque market. They play an active role for the development of the local companies and trade and for the private citizens.

An anthology of guarantees for perfect security

Everything originates from the watchfulness of the Public Authorities that deliver an authorization for any business activity developed on the Monegasque territory.
In the financial sector, the creation of any organization is subject to both the approval of the CECEI in Paris (Comité des Etablissements de Crédit et des Entreprises d'Investissement; Committee for the Credit and Investment Institutions) and of the Monegasque supervisory authorities. The organizations are then placed under the authority of the Commission Bancaire Française, the French Stock Exchange Commission.

In general, the high professional standards of the financial sector are recognized, since they are put in place by managers with an international background.
As regards the fight against money laundering, the Principality has its own supervisory tools.


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