Article 4 of the Franco-Monegasque Agreement of 14 April 1945 on exchange control establishes the principle of the application of French legislation in force at the date of the agreement or later, concerning banking regulation and organisation, the form and negotiation of securities and the organisation and functioning of the financial market.
The regulatory organisation of the banks is accordingly founded, in principle, on the French Monetary and Financial Code, although relations between a bank and its customers are governed by Monegasque law.
The Principality does however have its own central authority responsible for gathering, analysing and passing on information pertaining to money laundering, the financing of terrorism and corruption, i.e. SICCFIN (service d’information et de contrôle sur les circuits financiers).
Monegasque Acts of law Nos. 1338 and 1339 and their respective implementation orders also govern financial activities on the one hand and mutual and investment funds on the other hand.