The AMF and the US CFTC Sign MOU for Supervision of Certain Cross-Border Firms

The AMF and the US CFTC Sign MOU for Supervision of Certain Cross-Border Firms

The Autorité des marchés financiers (AMF) and the United States Commodity Futures Trading Commission (CFTC) have signed a Memorandum of Understanding (MOU). The MOU aims to facilitate the supervision and oversight of regulated firms that operate across the United States and France.

The MOU signifies the commitment of both the AMF and the CFTC to cooperate closely in fulfilling their respective regulatory responsibilities, especially in the context of overseeing firms falling under the scope of the agreement. The agreement establishes a comprehensive framework for collaboration, outlines procedures for examinations, and facilitates the exchange of vital information.

"The MOU we enter into reaffirms the AMF and the CFTC's long-established commitment to cooperation," emphasized AMF Chair Marie-Anne Barbat-Layani. "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."

Global Impact and Strengthening Supervisory Structures

CFTC Chairman Rostin Behnam echoed similar sentiments regarding the MOU, recognizing its importance in fostering cross-border relations that promote the safety, resilience, and efficiency of global financial markets. He emphasized the value of international partnerships and collaboration across jurisdictions in ensuring that supervisory structures effectively address issues impacting individual markets while simultaneously supporting global economic growth.

"This MOU fortifies the longstanding cooperative relationship between the CFTC and the AMF," Chairman Behnam stated. "It represents the importance of cross-border relations towards ensuring safe, resilient, and efficient markets."

Protecting Investors and Ensuring Market Integrity

The partnership between the AMF and the CFTC will have significant implications for the regulation of cross-border firms operating in the financial services sector. It will facilitate a more seamless exchange of information and cooperation in examinations, furthering the goals of investor protection, maintaining market integrity, and reducing systemic risk.

As the financial world becomes increasingly interconnected, such collaborative efforts underscore the commitment of regulatory authorities to adapt and cooperate in a globalized marketplace. The MOU sets a precedent for future agreements that aim to harmonize regulatory oversight and ensure the safety and soundness of financial markets on both sides of the Atlantic.

The signing of this MOU represents an important step in the ongoing dialogue between international regulatory bodies, highlighting the importance of cooperation in an ever-evolving and interconnected global financial landscape. It reflects the shared commitment of the AMF and the CFTC to maintain the highest standards of market supervision and investor protection.