The Alur law, which was passed in 2014, has significantly strengthened the regulation of the brokerage profession in transactions involving shares, goodwill, and real estate.
Interestingly, transactions involving shares are now less regulated compared to transactions involving shares of a SARL (limited liability company), commercial real estate, or business transfers.
Professionals who seek a mandate for the transfer of a SARL, a business, or a building, including as an accessory to a SA (public limited company) or SAS (simplified joint-stock company), are required to hold a CPI professional card.
Obtaining this card has become particularly challenging (CPI 7501 2017 000 022 799), as the requirements for obtaining it have become very stringent.
Only a few organizations possess this professional card, and failure to comply with the regulations can result in the nullification of the mandate as well as criminal proceedings.
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