In its 2025 annual report, the French Financial Markets Authority set out three priorities for 2025 and early 2026: making the financial centre safer and more resilient, supporting deeper European capital markets and the attractiveness of Paris, and building a framework for innovative finance. The authority said recent episodes of market stress linked to the conflict in the Middle East had so far been handled in an orderly way, but vulnerabilities identified in its 2025 risk mapping are being confirmed, particularly in private finance, while cyber risk is increasing with new artificial intelligence models. Investor protection and market integrity remain central amid broader retail participation in equity markets, more financial scams and stronger insider networks. The AMF said it needs new legal tools to act faster and more forcefully and called for rapid adoption of the Labaronne bill. On market development, it reiterated support for the Savings and Investments Union and said it has launched a consultation on assets eligible for Undertakings for Collective Investment in Transferable Securities. On innovation, it described 2026 as a key year for tokenisation of financial assets and said teams are processing applications under the Markets in Crypto-Assets Regulation as the transitional period nears its end. The authority plans to publish a communication on cyber resilience in the coming days setting out measures for the next few months, and it will launch the third phase of its campaign for new investors in autumn under the message that investing is not a game.

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