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CFTC and French Authorities Enter into MOU on Dual-Regulated Entities

The CFTC and French regulators (Autorité des Marchés Financiers, hereafter "AMF") signed a Memorandum of Understanding ("MOU") aimed at facilitating cooperation and the exchange of information related to supervising institutions that operate in both the United States and France.

In the MOU, the CFTC and AMF stated that cooperation will be achieved via ongoing informal consultation through mutual assistance in obtaining information from covered institutions. The CFTC and AMF said that the MOU establishes a framework to support "informal consultations and formal cooperation" and the written exchange of non-public information. Additionally, the framework includes procedures for the examination of French swap dealers registered with the CFTC.

Primary Sources

  1. CFTC Press Release: CFTC and French AMF Sign MOU for Supervision of Certain Cross-Border Firms
  2. CFTC and AMF MOU: Memorandum of Understanding Concerning Cooperation and the Exchange of Information Related to the Supervision of Covered Firms
  3. CFTC Statement, Kristin N. Johnson: Statement of Commissioner Kristin N. Johnson Regarding CFTC Signing a Memorandum of Understanding with French Regulators

Tags

Regulated Activities
Cross-Border Regulatory Oversight
Regulated Entities
Swap Dealers / SBSDs
Body of Law
CEA Regulation
Jurisdiction
US - Federal , European Union or Non-U.S. Country
Impacted Foreign Jurisdiction
France
Organization
Non-U.S. Regulators CFTC, NFA, CFTC Markets
Sub-Author
CFTC