meta_id 3615986

On October 20, 2026, the U.S. Securities and Exchange Commission (SEC) announced that it has entered into a Memorandum of Understanding (MOU) with the French Autorité des Marchés Financiers (AMF). The agreement sets out a framework for consultation, cooperation, and information-sharing in the supervision of investment advisers and investment companies regulated by the SEC, and investment service providers supervised by the AMF, where these firms operate in both the United States and France. The MOU's main practical effect is to facilitate the SEC's registration and supervision of AMF-supervised asset management companies that wish to conduct business in the United States as investment advisers. The arrangement is intended to support cross-border market access while preserving investor protection and the integrity of the financial system in both jurisdictions. Asset management firms supervised by the AMF that seek to operate as U.S. investment advisers are the primary group affected. The SEC said it will process new and pending registration applications from AMF-supervised asset management companies in light of this arrangement. Affected firms seeking U.S. registration should expect their applications to be considered under the new cooperation framework. The SEC Chairman, Paul S. Atkins, said the MOU reflects a spirit of cooperation in securities regulation intended to expand opportunity and keep global markets flexible, innovative, and protective of investors. AMF Chair Marie-Anne Barbat-Layani said the agreement marks a further step in strengthening cooperation between the two authorities. References: U.S. Securities and Exchange Commission, Press Release 2026-108, October 20, 2026: https://www.sec.gov