Sub-agent of an IOBSP (MIOBSP)
An IOBSP category for someone acting under the mandate of another intermediary, broker or agent, rather than directly of a bank. The MIOBSP relies on its principal's agreements and supervision: it is often the entry route into the profession or the status of agents within a brokerage network.
Key points
- Acts under the mandate of a COBSP or MOBSP, never directly of a bank.
- Their IOBSP principal remains responsible for their acts and training.
- Status often chosen as an entry route into the profession or within a brokerage network.
- ORIAS registration is mandatory but can draw on the principal's professional competence.
Frequently asked questions
How does the relationship between a MIOBSP and their principal work?
The IOBSP principal grants the MIOBSP a defined mandate to present credit transactions in their name. They assume responsibility for the MIOBSP's acts vis-à-vis clients and authorities, which implies ensuring the competence and good repute of their agents. In return, the MIOBSP is generally supported by the tools, banking agreements, and continuing training provided by their principal.
Why do some professionals choose MIOBSP status rather than COBSP?
MIOBSP status is often less demanding in terms of initial training prerequisites and capital requirements, since the principal assumes part of the responsibility. It also allows a quick start by drawing on banking agreements already negotiated by the principal, without having to build one's own banking partner network. It is therefore a frequent transitional status before acquiring the independence of a COBSP.
What is the difference between a MIOBSP and a commercial agent in credit distribution?
A commercial agent is a general commercial law status not recognized by the Monetary and Financial Code for banking intermediation. A MIOBSP is a regulated IOBSP category, registered with ORIAS, subject to AML-CFT and MCD/IDD obligations. Using commercial-agent status to distribute credit without IOBSP registration is a criminal offense: the distinction is not merely formal.
In practice
A real-estate agent wishes to offer mortgage brokerage to their buying clients alongside their main activity. They register with ORIAS as a MIOBSP under the mandate of an established brokerage network, which provides their initial training, simulation tools, and banking agreements, without needing to set up their own brokerage structure.
Put it into practice with CourtImmo
See how CourtImmo software helps brokers on this topic:
Official sources
- The banking-operations intermediary (IOBSP) · ABE Info Service (Banque de France / ACPR)
- Article L519-1 of the Monetary and Financial Code · Légifrance
- Single register of intermediaries · ORIAS