French regulators become latest to create dedicated FinTech Division

FinTech division to assess opportunities and risk for investors, to enhance competitiveness of the ‘Paris Financial Centre’.

The Autorité des Marchés Financiers (AMF) has announced the launch of a FinTech, Innovation and Competitiveness division to be headed up by Franck Guiader.

The division has been created “in light of the changing consumption patterns underway and to enhance the competitiveness of the Paris financial centre.”

The FinTech, Innovation and Competitiveness (FIC) division will analyse new opportunities and risk for regulators and and investors to assess.

It particularly focuses on competitiveness and innovation issues for French and international regulators to take a position on. 

It will coordinate a “FinTech task force” to address the topics of technological innovation, and “take the lead for the AMF in the joint initiative announced with the Autorité de Contrôle Prudentiel et de Résolution (ACPR) to coordinate the actions of the two authorities with respect to the acceptance and regulation of innovative projects.”

Franck Guiader, who has worked at BNP Paribas and Euronext before joining the Asset Management Regulation division of the Regulatory Policy and International Affairs Directorate, will head up the FIC division.

The division will be operational as of 1 June this year.