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 not directly binding on regulated firms, it signals heightened supervisory attention to the distribution of speculative, leveraged products through unauthorised channels. For compliance teams, the practical exposure is two-fold: reputational and regulatory contagion when clients move funds between legitimate accounts and unapproved platforms, and liability risk where authorised firms facilitate payments, white-label technology, liquidity, or marketing affiliates linked to unauthorised operators. Firms with French or EU retail client bases should treat this as a trigger to re-test the perimeter of their product governance, financial promotions, and third-party/affiliate arrangements.

Recommended actions for RegCanary subscribers: (1) confirm that any FX or crypto-derivative distribution activity has the correct MiFID/AMF passporting or crypto-asset authorisation; (2) review marketing and affiliate networks for unapproved referrals of leveraged products; (3) strengthen payment and onboarding monitoring to detect use of unregulated brokers; (4) refresh client education and scam-warning communications in French; and (5) record warning-list screening in your due diligence file. Where firms spot exposure, escalate to the relevant compliance committee and consider a voluntary notification.