SEC and AMF Sign Supervisory MOU on Investment Adviser Cooperation

Cross-border supervisory pacts rarely move markets on their own, but this one signals that U.S. and French regulators are building formal channels for oversight of advisers operating across both jurisdictions. It matters most for firms with dual registration or cross-border client bases, where information requests between regulators have historically been slower and less predictable. The absence of disclosed terms or an effective date leaves the practical scope unclear — whether this becomes a routine consultation mechanism or a more active enforcement bridge is the open question worth watching.