The financial world is strictly regulated in order to avoid any drift. And it is wise to be well informed before dealing with an operator. To find out whether a particular actor is legally practicing, there is the REGAFI or register of financial agents. What is it about?
Presentation of REGAFI
The REGAFI or register of financial agents provides a list of all companies (based in France or elsewhere) that have been granted an authorisation by the ACPR or Autorité de Contrôle Prudentiel et de Résolution, allowing them to operate legally in France in the financial sector. It also includes companies operating in the banking sector and having received an authorization to offer their services in Monaco
Who can integrate the register of financial agents?
To join this register, you must therefore provide proof of a valid authorization issued by the ACPR. And obtaining this approval is subject to various fairly strict criteria, knowing that the objective is to ensure maximum protection for customers by ensuring that control over credit and currency is maintained. Here are some types of companies that can join REGAFI: investment company, credit institution, banks, payment company, agents, bureaux de change, financial company..
For each authorized company, we are entitled to a detailed sheet. REGAFI offers very specific information, namely the services (banking, investment or payment) that a particular company can offer in France. It should be remembered that it may or may not be a French company. Precisely, if it is a foreign company, it is possible to know thanks to REGAFI’s information whether it has a branch in France.
Obtaining information through REGAFI
To obtain information using REGAFI, simply visit its website. Information on individuals, legal entities or groups can then be collected. Any search requires the name of the company or an identification code. Different codes can be obtained such as the SIREN or Business Directory Identification System, the CIB or Interbank Code or the Bank Identifier Code. If the search is for a payment agent, the registration number of the payment agent must be entered, consisting of a maximum of 12 digits. Once the necessary search information is available, simply use the site’s search engine. At least three letters must be entered to optimize the results.
In the case of binary options, it is not necessary to type the name of the broker but that of the parent company to see if it is present or not on the register.
For more information on broker regulation you can consult our dedicated page on this subject.