Financial Law & AML
Setting up & advising regulated financial entities
The Monegasque financial landscape is made up of credit institutions and financial services companies. The presence of large foreign bank and finance industry groups with a wide range of nationalities make Monaco a resolutely international market.
Historically speaking, the Monegasque market has specialised in wealth management for affluent resident and non-resident clients. The dual aim of the 2007 overhaul of its legislative and regulatory framework was to boost the development of financial services and protect investors. It is now possible, subject to the accreditation of the Commission de Contrôle des Activités Financières, the CCAF, to provide a wide range of financial services in Monaco today: portfolio management on behalf of third parties naturally, Monegasque or foreign fund management, management advice and order reception/transmission.
We can assist you trough the full process of setting up regulated financial entities and advise any registered regulated financial entity.
Anti-Money Laundering law
We duly integrate AML law at every step of all procedures & transactions. We also carry out KYC, KYB and KYT assignments on behalf of our clients.
Richard Marcon is the author of several articles on the fight against money laundering, terrorist financing and corruption. He has been invited on several occasions by the National Council of the Principality of Monaco to share his analyses and comments on draft legislation. Richard Marcon regularly advises the Monegasque employers’ Federation on these AML/CFT issues in connection with legislative developments.
He is a member of the Board of Directors of the Monegasque Association of Compliance Officers, the AMCO, and is responsible for the Legal and Accounting Professions Committee.
He also assists the firm’s clients in proceedings before the Commission d’Examen des Rapports de Contrôle (CERC).
Our associate Pawel Matysiak candidates his Doctor of Law degree on the impact of International AML regulations on the attractivity of Monaco.