SEC and AMF Announce Supervisory MOU to Enhance Cooperation for Investment Advisers and Investment Service Providers
The U.S. and French financial regulators have signed a supervisory agreement to improve oversight of cross-border investment firms, enabling smoother registration and supervision for asset managers operating in both countries.
Key points
- The MOU establishes a framework for consultation, cooperation, and information exchange between the SEC and AMF.
- AMF-supervised asset management firms acting as U.S. investment advisers will be subject to the SEC’s registration and supervisory framework.
- Such firms will see their new and ongoing registration applications processed by the SEC under this arrangement.
- The agreement covers investment service providers and investment advisers operating in both the U.S. and France.
- The announcement was made on October 20, 2026, in Washington D.C.
- - SEC Chairman Paul S. Atkins emphasized cooperation to expand opportunity and protect investors globally.
The U.S. The U.S. Securities and Exchange Commission and France's Autorité des Marchés Financiers have launched a Memorandum of Understanding to improve coordination and information exchange between their regulatory bodies, specifically for investment advisers and companies under SEC oversight and investment service providers under AMF supervision.
A detailed agreement between the SEC and AMF sets out how they will collaborate, consult, and share data regarding investment service providers, advisers, and companies active in the United States. These entities operate in both the U.S. and France and fall under the regulatory authority of either the SEC or the AMF.
The MOU enables AMF-regulated asset management firms aiming to offer advisory services in the U.S. to be registered and monitored by the SEC. Under this agreement, the SEC will review and handle both new and existing registration requests from asset management firms supervised by the AMF.
SEC Chairman Paul S. Atkins said: "The MOU exemplifies cooperation to expand opportunity and protect investors globally."
The agreement applies to investment service providers and investment advisers operating in both the U.S. and France under the respective regulatory authorities.
The announcement was made on October 20, 2026, in Washington D.C.
This MOU enhances coordination in the supervision of cross-border financial services, enabling more effective oversight of firms operating in both jurisdictions.
Key Points
- The MOU establishes a framework for consultation, cooperation, and information exchange between the SEC and AMF.
- AMF-supervised asset management firms acting as U.S. investment advisers will be subject to the SEC’s registration and supervisory framework.
Questions and answers
- The MOU allows consultation, cooperation, and information-sharing on the supervision of investment advisers and service providers operating in both the U.S. and France.
- What does the MOU allow between the SEC and AMF?
- Yes, AMF-supervised asset management companies wishing to operate as investment advisers in the U.S. can now have their registration applications processed by the SEC under this arrangement.
- Will AMF-supervised firms be able to register in the U.S. under this MOU?
- The MOU was announced on October 20, 2026.
- When was the MOU announced?
Spotted a mistake? Report an error · Corrections policy
From the newsroom
Newsroom desk