CFTC strikes agreement with French regulators on supervision, oversight

The Commodity Futures Trading Commission (CFTC) has signed an agreement with the French Autorité des marchés financiers (AMF) on the supervision and oversight of certain regulated firms that operate on a cross-border basis in the United States and in France.

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Through memorandum of understanding (MOU), the CFTC and AMF agree to cooperate in the interest of fulfilling their respective regulatory mandates in supervising firms within the scope of the agreement.

“This MOU fortifies the longstanding cooperative relationship between the CFTC and the AMF and represents the importance of cross-border relations towards ensuring safe, resilient, and efficient markets,” CFTC Chairman Rostin Behnam said. “Working through diplomatic channels and partnering across jurisdictions ensures that our supervisory structures meaningfully address issues impacting our individual markets and supports global economic growth.”

More specifically, the MOU establishes a framework for cooperation, contemplates the sharing of information, and provides procedures for examinations of French swap dealers currently registered with the CFTC.

“The MOU we enter into today reaffirms the AMF and the CFTC’s long established commitment to cooperation,” AMF Chair Marie-Anne Barbat-Layani said. “It will enable us to strengthen our cooperation in the supervision of entities falling within the scope of the agreement, particularly in the areas of investor protection, maintaining market integrity and confidence, and reducing systemic risk.”