Monaco regulations

In Monaco financial activities are governed by laws, sovereign orders and ministerial orders. The main legislation can be downloaded from this website (here).

Financial activities

  • Law 1.338 of 7 September 2007: on financial activities which can be performed in Monaco, subject to accreditation from the Commission, it lists said activities in article 1;
  • Sovereign order 1.284 of 10 September 2007: passed in application of law 1.338 describes the conditions governing the provision of financial services by accredited companies ;
  • Law 1.314 of 29 June 2006: on financial instrument custody or administration by credit institutions.
  • Ministerial order 2012-199 of 5 April 2012 on professionnal duties for account holders custodian credit institutions for financial instruments ;
  • Ministerial order 2014-168 of 19 March 2014 concerning the minimum knowledge required to exercise some functions in a bank or in an asset management company in Monaco.

Mutual funds

  • Law 1.339 of 7 September 2007: on mutual funds and investment funds, setting forth the main principles governing fund management activity ;
  • Sovereign order 1.285 of 10 September 2007: passed in application of law 1.339, describing fund formation and operating rules ;
  • Ministerial order 2008-50 of 4 February 2008: describing the required content of fund simplified prospectuses ;
  • Ministerial order 2008-51 of 4 February 2008: setting forth the content of the joint affidavit of the management company and custodian required for fund creation ;
  • Ministélial order 2013-391 of 8 August 2013 : on real estate investment funds.