SEC and AMF announce supervisory MoU to enhance cooperation for investment advisers and investment service providers

The SEC–AMF MoU is intended to improve regulator-to-regulator information sharing and coordination over investment advisers and investment service providers operating across the US and France/EU. For compliance teams, the practical effect is likely to be greater scrutiny of cross-border business conduct, clearer channels for supervisory enquiries, and heightened expectations around books and records, disclosure, outsourcing, and client-facing activity. Firms with dual registration, cross-border clients, or group entities in both jurisdictions should map their supervisory touchpoints and ensure compliance, legal, and local management can respond consistently to information requests.

No deadline is stated, so immediate action is not required; however, firms should treat the MoU as a signal to strengthen cross-border governance, escalation protocols, and regulatory-change monitoring. RegCanary recommends reviewing existing SEC/AMF-facing policies, confirming data-sharing controls, and briefing boards on potential supervisory coordination. The development may reduce duplication over time and support more predictable cross-border engagement, but it also raises the risk of coordinated enquiries and inconsistent local responses.

Medium complexity, low immediate urgency, but medium strategic risk for cross-border investment firms.