French Financial Regulation Intelligence
Navigate French financial regulation with AI-powered analysis. Get cited answers on AMF and ACPR requirements, Code monétaire et financier obligations, MiCAR transposition, and DORA compliance for France-based financial entities.
France at a Glance
Supervisory model
Twin peaks (AMF + ACPR)
Primary legislation
Code monétaire et financier (CMF)
MiCAR authority
AMF
DORA authority
ACPR (Banque de France)
AML/CFT supervisor
ACPR + TRACFIN (FIU)
Languages
French
Supervisory Authorities
The competent authorities responsible for financial supervision in France.
AMF
Autorité des marchés financiers
Financial markets regulator responsible for investor protection, market supervision, and conduct-of-business rules. Regulates investment firms, fund managers, and CASPs. MiCAR competent authority.
ACPR
Autorité de contrôle prudentiel et de résolution
Prudential supervisor and resolution authority for banks, insurance companies, payment institutions, and e-money institutions. Part of the Banque de France. DORA competent authority.
BdF
Banque de France
Central bank responsible for monetary policy (Eurosystem), financial stability, payment systems oversight, and economic statistics. Houses the ACPR.
EU Regulations in France
How key EU financial regulations apply in the France jurisdiction — local competent authorities, transposition status, and national specificities.
MiCAR in France
Transitional period — deadline 1 July 2026
The AMF is the competent authority for MiCAR in France. France was a pioneer through the PSAN regime (Loi PACTE 2019). Existing PSAN providers must transition to MiCAR CASP authorisation by 1 July 2026.
DORA in France
Applicable since 17 January 2025
The ACPR supervises DORA compliance. France has G-SIBs including BNP Paribas, Société Générale, Crédit Agricole, and BPCE. French entities must comply with DORA since 17 January 2025.
MiFID II / MiFIR in France
Fully applicable
Transposed into the CMF and AMF General Regulation. The AMF supervises investment firms and trading venues including Euronext Paris.
AIFMD / UCITS in France
AIFMD II transposition by 16 April 2026
France is the second-largest fund domicile in Europe. The AMF supervises management companies under both AIFMD and UCITS. AIFMD II must be transposed by 16 April 2026.
National Financial Legislation
Key France national statutes governing financial services, beyond directly applicable EU regulations.
Code monétaire et financier (CMF)
The comprehensive French monetary and financial code. Consolidates all financial regulation covering banking, insurance, investment services, payment services, and financial markets.
Scope: Credit institutions, investment firms, fund managers, insurers, payment institutions
Règlement général de l’AMF (AMF General Regulation)
The AMF’s comprehensive rulebook implementing EU and national requirements for financial markets. Covers authorisation, conduct of business, market abuse, and fund regulation.
Scope: Investment service providers, fund managers, listed companies, market infrastructures
Loi PACTE (Law 2019-486)
Introduced the PSAN (Digital Asset Service Provider) registration regime — making France one of the first EU countries to regulate crypto assets.
Scope: Digital asset service providers, fund managers, insurers, listed companies
Arrêté du 3 novembre 2014 (Internal Control Regulation)
Establishes internal control and risk management requirements for banks and investment firms. Covers governance, compliance, and operational continuity.
Scope: Credit institutions, investment firms subject to CRD/IFD
Code des assurances (Insurance Code)
The comprehensive French insurance code implementing Solvency II and IDD. Covers authorisation, solvency requirements, governance, and distribution rules.
Scope: Insurance undertakings, reinsurance companies, insurance intermediaries
Ask About France Regulation
financialregulations.eu covers both EU-level regulations and France national legislation. Example questions:
- Who regulates financial services in France?
- How does MiCAR apply in France?
- What is the Code monétaire et financier?
- How does DORA apply to French financial entities?
Jurisdiction Coverage
Our knowledge base covers France national legislation and EU regulations as they apply locally. Get answers with article-level citations from the actual regulatory text.
Frequently Asked Questions
Who regulates financial services in France?
France uses a twin-peaks model. The AMF is the financial markets regulator for investor protection and market supervision. The ACPR, part of the Banque de France, handles prudential supervision and resolution for banks, insurers, and payment institutions.
How does MiCAR apply in France?
The AMF is the MiCAR competent authority. France was an early mover through the PSAN regime (Loi PACTE 2019). Existing PSAN providers must obtain full MiCAR CASP authorisation by 1 July 2026.
What is the Code monétaire et financier?
The CMF is France’s comprehensive monetary and financial code. It consolidates virtually all French financial regulation into a single code, covering banking, insurance, investment services, payment services, fund management, and financial markets.
How does DORA apply to French financial entities?
DORA applies directly in France since 17 January 2025. The ACPR is the primary supervisor. France’s G-SIBs and other financial entities must implement ICT risk management, incident reporting, digital resilience testing, and third-party ICT risk management.
What makes French fund regulation distinctive?
France is the second-largest fund domicile in Europe. The AMF supervises management companies under both AIFMD and UCITS. France is distinctive for its large insurance-linked fund market and Paris as a financial centre for pan-European fund distribution.
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