French financial markets regulator Autorité des Marchés Financiers (AMF), is setting up a 'fintech, innovation and competitiveness' division to address the impact of new technologies on financial services provision.
The AMF has appointed former Lazard, BNP Paribas and Euronext alumnus Franck Guiader as head of the new unit which will "analyse innovations taking place in the investment services industry and identify competitiveness and regulation challenges".
The division will play a central role in adjusting the regulatory environment to keep pace with new technological innovation and will represent France's interests at an international level.
As part of its remit, the watchdog says the unit will coordinate a “fintech task force” made up of experts from different AMF directorates to address topics related to technological innovation.