In their 2017 balance sheet, the AMF and the ACPR recall that the promotion of financial products is subject to the same rules on social networks as on other media.
Advertising on social networks is targeted by the two French financial authorities. In its annual review of activities, the common pole bringing together the financial market (AMF) and the banking and insurance (ACPR) sector, particularly reminded us that, however new they may be, social networks are not Rules that apply to the promotion of financial products and services. ” We have a pragmatic approach: we have worked on social media because we have encountered difficulties on the ground on this subject, ” says Claire Castanet, Director of Relations with savers at the AMF .
” Financial industry professionals quickly saw the commercial potential of social media, ” explained the two financial authorities, whose digital issues were one of the priority axes in 2016. ” They offer them the opportunity to reach more Effectively, and at lower cost, their prospecting targets or their clientele. “
Two divisions dedicated to fintechs
Another issue at the heart of digital issues, the rise of young shoots of finance . In 2016, the two regulators set up two entities dedicated to Fintech , the “FinTech Innovation and Competitiveness Division” within the AMF and the “FinTech-Innovation Center” for the ACPR, which will be responsible for coordinating the Monitoring of these new players between the two financial authorities.
In addition to controlling business practices, they also work on client protection issues in this fast-growing sector.