Activities subject to approval

Activities for which accreditation is necessary

Financial activities are governed by law 1.338 of 7 September 2007 and enforcement sovereign order 1.284 of 10 September 2007.

A wide range of financial activities, subject to approval by the Commission Control of Financial Activities, may be exercised.

Activities are listed in Article 1 of Law 1338:

  • portfolio management for transferable securities and forward and options contracts, on behalf of third parties (figure 1) ;
  • management of unit trust mutual funds or other mutual fund institutions incorporated under Monegasque law (figure 2) ;
  • receipt/transmission of financial market orders for transferable securities or forward and options contracts, on behalf of third parties (figure 3) ;
  • advice and assistance on the matters mentioned in figures 1 to 3 (figure 4) ;
  • management of mutual fund institutions incorporated under foreign law (figure 6).

Management of funds incorporated under Monegasque law is also governed by law 1.339 of 7 September 2007 plus sovereign order 1.285 of 10 September 2007.


All financial institutions that wish to start trading from the Principality or change the scope of their accreditation are invited to contact the Commission General Secretariat.