Fair practices

Due to our unique public status, we are placed "in the most special manner under the supervision and guarantee of legislative authority" exercised by the Supervisory Board. This status confers us the duty to be neutral, all the while being attentive to the direction of the local and national public authorities. This also requires us to be transparent and to apply the best practices in place, in particular in terms of ethics, leadership and risk management.


We accord the upmost importance to our staff’s respect of ethical principles and obligations. These are specified in an Ethical Code adopted in June 2012 and applicable both within the public body and our subsidiaries.

In addition to the general principles on respecting the image of the public body and the reminder of mission in the general interest, the Ethics Code supervises the relationships with third parties and the financial ethics of colleagues.


We are committed to promoting fair trading by encouraging the emergence of businesses not sufficiently covered by the market. So as not to go against this principle, we are not involved alone and take part in projects with a view to a future handover via a private investment.


We are subject to the implementation of an initiative to combat money laundering, in accordance with the provision of the Financial and Monetary Code, the principles of which have been validated by the executive board of the group.

Each new business relationship requires in-depth due diligence to be carried out in accordance with the level of risk, including a systematic review of all of the partners.

This initiative also includes a money laundering, terrorist financing and fiscal fraud risk assessment, leading to a ranking of countries and territories into three sensitivity levels. Our investment business is specifically governed by an operating ban list.

The subsidiaries carrying out business on an international level comply with the local regulations and are especially vigilant over these issues.

Haut de page