France

The Loi Sapin II (Act No. 2016-1691) is the leading anti-corruption extraterritorial legislation of France that aims to help identify and prevent bribery, influence-peddling activities, and corporate misconducts. It is applicable to corporations operating in France, having no less than 500 employees, and gross annual revenues of over €100 million. Article 17 of the law establishes the obligation to establish a corporate compliance program under 8 principles, which include developing a corporate code of conduct, risk mapping, due diligence of third parties, whistleblower program, and anti-corruption training. Non-compliance with the Loi Sapin II Act may incur administrative penalties not exceeding €1 million for corporations, executives, and the establishment of judicial compliance program.

Title VI of Book V of the French Monetary and Financial Code (Code monétaire et financier) is the leading and functional code on anti-money laundering and combating the financing of terrorism (AML/CFT) in France. This provision was enacted in December 2000 and was substantially restructured in February 2009 to incorporate the directives from the European Union into the French legislation, and it continues to be revised regularly until now, with the most recent revision being the changes in April 2026 through the regulatory changes regarding the training of employees and beneficial ownership documentation. Enforced and regulated by the relevant authorities such as the ACPR and AMF, Title VI prescribes the precise due diligence, asset freezing, and suspicious transaction reporting requirements for banks, financial institutions, and insurance companies to prevent financial crimes and tax evasion.

General Regulation of the AMF (Règlement général de l'AMF) is the authoritative, living instrument adopted by the French financial markets regulator in order to turn the top-level legislation into concrete requirements for practical operational compliance for investment professionals, asset managers, and market infrastructures. Adopted initially at the end of 2004 as a result of the consolidation of existing French financial markets supervisors, the regulation outlines clear frameworks within separate modules such as Book III – investment services, and Book V – market infrastructures, covering all areas including customer due diligence (KYC) and market transparency. The regulation is developed and adopted by the AMF Board; however, it has to be confirmed through the implementing decree of the French Minister for the Economy according to the legislation, and the currently valid version has come into force on 11 September 2026.