The Autorité des Marchés Financiers is France's financial markets regulator, established in 2003. Together with the ACPR (Autorité de Contrôle Prudentiel et de Résolution), the AMF forms the dual regulatory system overseeing the French financial services sector. The AMF is particularly noted for its proactive stance in maintaining and publishing blacklists of unauthorised firms.
About the AMF
The Autorité des Marchés Financiers (AMF) is an independent public authority established in 2003 to safeguard investments in financial products, ensure orderly financial markets, and provide reliable information to investors. The AMF works in conjunction with the ACPR, which handles prudential supervision, creating a comprehensive dual regulatory framework for France's financial sector.
Regulatory Framework
The AMF regulates financial markets, collective investment products, and investment services providers. Its framework is fully aligned with MiFID II European standards, and it has been particularly active in restricting the marketing of high-risk products to retail investors, including implementing bans on the advertising of certain CFD and binary options products to French consumers.
Investor Protection
The Garantie des Titres scheme provides protection of up to €70,000 per investor for securities and €100,000 for cash deposits. The AMF maintains one of the most comprehensive blacklists of unauthorised financial services firms in Europe, which is regularly updated and publicly accessible. The AMF Ombudsman provides a free and confidential mediation service for disputes between investors and authorised firms.
- Garantie des Titres — up to €70,000 per investor for securities
- Full MiFID II compliance with European passporting
- Active blacklist of unauthorised firms and websites
- Marketing restrictions on high-risk CFD and binary options products
| Instrument | Retail | Professional |
|---|---|---|
| Major Forex | 1:30 | 1:500 |
| Minor Forex | 1:20 | 1:400 |
| Gold | 1:20 | 1:400 |
| Indices | 1:20 | 1:400 |
| Shares CFDs | 1:5 | 1:200 |
| Crypto | 1:2 | 1:50 |
Passporting Regions
Restricted Countries
AMF works alongside ACPR in France's dual regulatory framework. Maintains extensive blacklist of unauthorised firms.
Body: AMF Ombudsman
Visit Dispute ResolutionRelated Regulators
FCA
AAATier 1Financial Conduct Authority
The Financial Conduct Authority is the principal regulatory body overseeing financial markets in the United Kingdom. Established in 2013 as a successor to the Financial Services Authority, the FCA operates independently of the UK Government and is funded entirely by fees charged to the firms it regulates. It supervises over 50,000 financial services firms and maintains one of the most rigorous compliance frameworks in the global financial industry.
FINMA
AAATier 1Swiss Financial Market Supervisory Authority
The Swiss Financial Market Supervisory Authority is Switzerland's independent financial markets regulator. Established in 2009 by merging three predecessor agencies, FINMA oversees banks, insurance companies, stock exchanges, securities dealers, and collective investment schemes. FINMA is widely recognised as the most respected regulatory body in continental Europe, and its requirement that forex brokers register as banks places it among the strictest regulators globally.
CySEC
AATier 2Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission is the independent public supervisory authority responsible for the supervision of the investment services market and transactions in transferable securities in the Republic of Cyprus. As an EU member state regulator, CySEC-authorised firms benefit from MiFID II passporting rights, enabling them to offer services across the entire European Economic Area.
BaFin
AATier 2Federal Financial Supervisory Authority
The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) is Germany's integrated financial regulatory authority. Established in 2002 through the merger of three predecessor agencies, BaFin supervises over 2,700 banks, 800 financial services institutions, and 700 insurance companies, making it one of Europe's most significant financial supervisors.
MFSA
ATier 2Malta Financial Services Authority
The Malta Financial Services Authority is the single regulator for financial services in Malta. Established in 2002, the MFSA oversees banking, financial services, insurance, and pensions. As a full EU member state regulator, MFSA-licensed firms benefit from MiFID II passporting across the European Economic Area.
CNMV
ATier 2Comisión Nacional del Mercado de Valores
The Comisión Nacional del Mercado de Valores is the body responsible for the supervision and inspection of Spanish securities markets and the activities of all participants in those markets. Established in 1988, the CNMV oversees investment firms, collective investment institutions, and the markets themselves.