France's Financial Markets Authority (AMF) has published its 2026 priorities for action and supervision under its “Impact 2027” strategic framework, setting out four commitments intended to deepen and strengthen capital markets while keeping the regulatory focus on trust, investor protection and innovation. Work on market development will focus on the European Commission’s Savings and Investments Union agenda, with the AMF positioning itself to propose a stronger role for the European Securities and Markets Authority (ESMA) in the EU supervisory architecture. Domestically, the AMF plans a comprehensive review of its issuer doctrine to reflect the simplifications introduced by the Listing Act, alongside work to adapt the range of French investment funds and the operating framework for asset management companies. In sustainable finance, it will push for simpler, more effective Sustainable Finance Disclosure Regulation (SFDR) rules that incorporate a transition objective and continue supporting listed companies implementing the revised Corporate Sustainability Reporting Directive (CSRD). On innovation, the AMF will support the move to the Markets in Crypto-Assets Regulation (MiCA), back tokenisation and launch a consultation with asset managers to assess related projects, while finalising an artificial intelligence roadmap and publishing a forthcoming study on AI use cases and associated governance arrangements to inform its supervisory approach. For market safety and resilience, it will complete a cross-sector stress test started in summer 2025 with the Banque de France and the Autorité de contrôle prudentiel et de résolution (ACPR), support implementation of the Digital Operational Resilience Act (DORA) through supervisory checks on cyber arrangements including early consideration of quantum computing impacts, and define a reinforced action plan against illicit online content. Key milestones flagged include the end of MiCA’s transitional period on 30 June 2026, the planned launch of the tokenisation consultation, and publication of the AI study. The AMF also reiterated its push for new legal tools to better combat financial fraud, referencing a bill submitted to the National Assembly on 16 September 2025 and indicating it expects its proposals to be adopted soon.
France Autorite des marches financiers 2026-01-13
France's Financial Markets Authority sets 2026 priorities on capital markets competitiveness, MiCA transition and operational resilience supervision
France's Financial Markets Authority (AMF) has outlined its 2026 priorities under the “Impact 2027” framework, focusing on capital market development, sustainable finance, innovation, and market safety. Key initiatives include supporting the European Commission’s Savings and Investments Union agenda, revising issuer doctrine, simplifying Sustainable Finance Disclosure Regulation (SFDR) rules, and finalizing an artificial intelligence roadmap, with significant milestones like the end of the Markets in Crypto-Assets Regulation (MiCA) transitional period on 30 June 2026.