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 this is not a new binding rule, it signals heightened supervisory focus on unauthorized cross-border investment activity and investor protection risks. Compliance teams should treat the warning as a prompt to strengthen controls around product distribution, introducer relationships, payment flows and client communications. Firms servicing French clients or working with third-party marketers should verify that all relevant entities hold the necessary AMF/ACPR authorizations and that promotional materials are accurate, fair and not misleading.

Additional due diligence is warranted where products reference offshore Forex or crypto-derivative exposure. Operational actions include screening counterparties and introducers against regulatory warning lists, enhancing transaction monitoring for suspicious payment patterns, reviewing onboarding and financial promotions, and training front-office staff to recognize unauthorized offerings. UK and other non-French firms should assess whether their activities could be perceived as facilitating unauthorized investment services into France.

The warning also reinforces the need for clear escalation paths when clients report approaches from unregulated providers. While the immediate regulatory burden is moderate, the reputational and conduct risk can be significant if firms are seen to enable or overlook unauthorized schemes. A proportionate response is to update risk assessments, document enhanced due diligence, and consider client education on verifying authorization before investing.