French regulator launches fintech division 31 May 2016Paris Reporter: Stephanie Palmer
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The French financial regulatory authority, Autorité des Marchés Financiers (AMF), has created a new division solely dedicated to responding to changes in the market relating to technological innovation in financial services.
The Fintech, Innovation and Competitiveness (FIC) division will be led by Franck Guiader, currently head of the Asset Management Regulation division of the Regulatory Policy and International Affairs Directorate at AMF.
According to AMF, the new division is a response to increasing global competition and the emergence of new players and new digital products in the financial services market.
It will analyse innovations taking place in the industry and look to identify challenges in regulation and competitiveness. It will also analyse opportunities and new forms of risk that are likely to require a response from both regulators and investors.
Working within the Regulatory Policy and International Affairs Directorate, the FIC division will then assess the need to adjust French regulation or policy in line with technological developments, while maintaining investor protection.
Guiader has been at AMF since 2011, when he joined the Asset Management Regulation division of the Regulatory Policy and International Affairs Directorate. He became head of this division in February 2015. He has also previously held roles at BNP Paribas, Euronext and Lazard Bank.
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