The OECM and 99 Avocats unpack the new company law for the MEB

On Monday, 28 September, at the Novotel Monte-Carlo, the Monaco Economic Board (MEB) organised its annual conference in close collaboration with the Ordre des Experts-Comptables de Monaco (OECM, the Monegasque Institute of Chartered Accountants) and in partnership with the law firm 99 Avocats. Entitled "Reform of company law in Monaco: what impact on management?", this event illuminated for the more than 120 executives present the new rules governing their companies' operations.

The Principality of Monaco continues to align itself gradually with the highest international standards, particularly in governance, transparency, and compliance. Within this context, Law No. 1.573 of 8 April 2025 on modernising company law fits seamlessly. 

Before an audience of decision-makers, Grégoire Gamerdinger, partner lawyer, and Victor Bardawil, senior associate, both at the law firm 99 Avocats, recalled that this reform clarifies the governance structure of Monegasque Public Limited Companies (SAM) and more strictly regulates the prevention of conflicts of interest, for both SAMs and SARLs (limited liability companies). They also emphasised that, faced with increased legal, regulatory, and criminal risks, the formalisation and traceability of decisions now constitute the first line of defence for executives. In short, governance can no longer rely solely on customs or trust.

Despite these necessary advances for Monaco's international compliance, the reform still raises questions on the ground. Professionals estimate that the law is not yet fully finalised and requires adjustments. In his introduction, the President of the OECM, Stéphane Garino, confirmed that discussions are actively underway with the government in this regard. The aim is to develop this text further to bring about the pragmatic improvements anticipated by Monegasque entrepreneurs. 

Proof of the significance of this reform for the local economic fabric was evident as the conference concluded with a particularly lively and substantive question-and-answer session. This enthusiasm undoubtedly demonstrated the full relevance of the event, addressing a genuine expectation of support in response to this major regulatory change.

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Press contacts: Benoît Ulrich / Delphine Quilichini – presse@meb.mc

Photo credits: Sébastien Darrasse / MEB