The AMF and the ACPR warn the public against several entities offering in France investments in the unregulated foreign exchange market (Forex) and in crypto-assets derivatives without being authorized to do so

Although the notice is aimed at retail investors, it carries clear read-across for regulated firms: perimeter risk remains elevated where offshore or unauthorised providers use affiliates, introducers, payment links or digital marketing to reach French clients. Compliance teams should treat the warning as a prompt to test controls around financial promotions, third-party and introducer due diligence, client onboarding, and suspicious activity escalation. Authorised providers should confirm that no product, referral arrangement or payment flow exposes them to unlicensed activity, and that client-facing materials clearly distinguish regulated from unregulated products.

Cross-border groups should reassess whether any France-facing activity requires local authorisation or passporting. The warning also reinforces the need for investor education and for front-line staff to recognise common red flags, including guaranteed returns, pressure selling and claims of regulatory status that cannot be verified. RegCanary view: this is not a new rule, but it is a useful supervisory signal.

Firms should monitor AMF and ACPR alert lists, review high-risk counterparties and marketing affiliates, and document any enhanced due diligence. The immediate opportunity is for authorised firms and regtech providers to differentiate through transparent disclosures, verified credentials and robust monitoring of unauthorised promotions.