The French financial regulator, AMF, has released its 2023 annual report, highlighting efforts to combat financial scams in the region. According to the regulator, 15% of the French population, including 35% of those under 35 years of age, were victims of such scams last year.

Strengthening Financial Markets

Marie-Anne Barbat-Layani, AMF's Chair, mentioned in the report: "2023 was a foundational year for the AMF. One in which it celebrated its 20th anniversary and defined its strategic guidelines for the 2023-2027 period."

"Thanks to the rigor and active involvement of its staff and board, the AMF is ever more committed to the exercise of its missions and is fully implicated in building a true European supervisory system, making Paris an attractive financial center, supporting innovation, sustainable finance, and protecting investors."

Through a series of inspections and investigations, including spot inspections, the AMF addressed suspected regulatory breaches. Notably, its collaboration with international authorities underscored the global dimension of its regulatory efforts.

A key focus for the AMF in 2023 was its involvement in initiatives aimed at revitalizing the Capital Markets Union, alongside efforts to enhance supervision of major financial players and promote innovation in areas like crypto assets. Internationally, the AMF played a role in shaping discussions on financial stability and non-banking financial intermediation, emphasizing its commitment to global regulatory coherence.

Recognizing the evolving landscape of retail investing, the AMF embarked on various initiatives to protect investors, from enhancing fee transparency to addressing the challenges posed by gamification. Recent insights underscored the behavior of new investors, informing targeted interventions to mitigate risks and combat financial scams.

Fostering Sustainability

Through guidance and reporting mechanisms, the AMF bolstered support for stakeholders navigating the transition toward a more sustainable financial ecosystem. In January, the authority expanded its warning list to include 35 new unregulated entities operating in the forex and cryptocurrency markets. AMF said the warning list is a crucial tool for investors to identify and avoid potentially risky investments.

In addition to expanding its warning list, the agency aims to enhance transparency and enlighten investors regarding trading fees. It aims to empower retail investors to make informed decisions by issuing a guide for financial professionals with standardized commission terminology.