NY and French regulators sign fintech agreement

The New York State Department of Financial Services (DFS) signed a Memorandum of Understanding (MOU) with France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR) to ease entry for fintech innovators into the New York and French markets.

The two authorities will refer fintech innovators to each other, which can improve speed to market; exchange information about regulatory and policy issues; ensure that innovators in each other’s jurisdiction receive equivalent levels of support; and share regulatory and supervisory expertise and best practices.

It’s the first cooperation agreement on fintech signed by the ACPR with an American Authority, noted Banque de France governor and ACPR chair Villeroy de Galhau, in a statement.

Read the full release

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