SEC - 2026 - MoU on consultation, cooperation and the exchange of information related to the supervision and oversight of certain investment service providers, investment advisers, and investment companies

It does not create new conduct rules, but it strengthens the supervisory channel for cross-border asset management and advisory activity. Compliance teams at firms with French or US clients, entities, portfolio management or advice should expect more structured information requests and closer coordination between regulators. Action: inventory cross-border entities, permissions and client-facing activities; confirm which regulator is primary for each service; update regulatory mapping and contact lists; review confidentiality, data protection and document-retention protocols for supervisory information; brief boards and compliance committees on potential SEC/AMF coordination.

Risks include increased scrutiny of cross-border marketing, delegated arrangements and adviser/fund governance, plus parallel inquiries. Opportunities include clearer regulatory dialogue and more predictable cooperation for firms expanding between the two markets. No immediate deadline is stated; treat as a supervisory-cooperation signal and monitor implementation.