The Bank of France has been relatively silent on the topic of culture and conduct risk. And while they have also been fairly quiet on the topic of regtech and suptech, in a fintech conference speech in October 2020, Deputy Governor of the Banque de France Denis Beau remarked, “As a central banker and supervisor in charge of ensuring monetary and financial stability, I feel it is important to support this fintech ecosystem and facilitate its smooth integration into the broader financial ecosystem.”1
Deputy Governor Beau, who also serves as Chairman of the French Prudential Supervision and Resolution Authority (ACPR), explained that, to facilitate this ecosystem’s growth, the Banque of France and ACPR plan to do two things: first, they must serve as “useful players” in the ecosystem; and second, they must create a regulatory framework and supervisory practices that cultivate both innovation and stability in the financial system as a whole.2
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