Professional competence (IOBSP)
A condition of access to the intermediary profession: proving a level of competence through a diploma, professional experience or a training course depending on the category (levels I, II or III). Checked at ORIAS registration, it ensures the broker masters the legal and technical framework of credit.
Key points
- Legal condition of access to the IOBSP profession, verified by ORIAS at registration.
- Three levels required depending on the category: levels I (highest) to III for MIOBSPs.
- Can be demonstrated by a recognized diploma, professional experience, or a certified training course.
- Annual continuing training is distinct: it maintains and updates competence after entry.
Frequently asked questions
What diplomas or experience demonstrate IOBSP professional competence?
For level I (exclusive or non-exclusive COBSP and MOBSP), a bac+2 diploma in finance, banking, or law sufficiently related to credit transactions is generally accepted. In the absence of a diploma, several years of professional experience at a credit institution or with an intermediary can substitute. For lower levels, a certified training course with a recognized provider can also be validated.
Why is professional competence distinct from MCD/IDD continuing training?
Professional competence is an entry condition verified once at ORIAS registration: it attests that the intermediary holds the minimum required level to practice. MCD/IDD continuing training is an annual knowledge-update obligation that ensures the professional remains current with regulatory and market developments throughout their career. Both are cumulative and neither exempts from the other.
What does a broker risk by practicing without meeting professional competence requirements?
Practicing IOBSP activity without valid registration, therefore without having demonstrated professional competence, constitutes a criminal offense subject to significant sanctions. On the civil side, acts performed could be challenged. The ACPR can also conduct an investigation and impose disciplinary sanctions. For firms, the risk extends to unregistered staff who provide advice on their behalf.
In practice
A former bank advisor with five years of experience in mortgage structuring wishes to set up as an independent broker. They demonstrate level I professional competence to ORIAS by providing an experience certificate from their former employer, thus avoiding the need for an additional training course.
Official sources
- Article L519-3-3 CMF (good repute and competence) · Légifrance
- Article L519-1 of the Monetary and Financial Code · Légifrance
- Prudential supervision and resolution authority · ACPR (Banque de France)