Banking-operations agent (MOBSP)
An IOBSP category for the intermediary acting under a mandate granted by a credit institution, either exclusively (one bank) or non-exclusively (several). Unlike the broker, the agent represents the lender, not the borrower; their offering depends on their banking mandates.
Key points
- Acts under mandate from one or more credit institutions, not under a borrower's mandate.
- Can be exclusive (a single banking principal) or non-exclusive (multiple banking principals).
- Their offering is limited to the products of the banks that have mandated them.
- They represent the lender, not the borrower, a fundamental distinction for the client.
Frequently asked questions
How does a non-exclusive MOBSP work in practice?
A non-exclusive MOBSP holds mandates from several banks and can offer the products of each to their clients. However, they are limited to these sole principals: unlike a COBSP, they cannot freely canvass the entire market. In practice, the client should be informed of the number of principals and, if possible, the list of represented institutions, so they understand the actual scope of the comparison made.
What is the difference between a MOBSP and a COBSP from the borrower's perspective?
A COBSP is mandated by the borrower and works exclusively in their interest, potentially approaching any bank in the market. A MOBSP is mandated by one or more banks and represents their interests, even if they aim to satisfy the client. The borrower should therefore understand that a MOBSP's duty to advise is framed by their mandates, whereas a COBSP's is oriented toward the best offer in the market.
Can the COBSP and MOBSP statuses be combined?
IOBSP regulations do not formally prohibit this combination, but it creates a structural conflict of interest that is difficult to manage: the professional would simultaneously be the agent of both the borrower and lending institutions. In practice, this combination is rare and requires enhanced transparency with the client regarding the exact nature of the mandate exercised for each transaction. Most professionals choose one status or the other.
In practice
A non-exclusive MOBSP mandated by three regional banks presents a craftsman with a comparison table of the three principals' offers. They clearly state at the outset that they represent only these institutions and not the whole market, so the client understands the limits of the comparison offered.
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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