This chapter constitutes the first of four empirical chapters mapping patterns of French regulatory attention to financial innovation, including the recent wave of FinTech. It examines shifts in regulatory attitudes following the 2008 Global Financial Crisis (GFC), the persistence of post-crisis ideologies, and consistency across domestic authorities. Initial caution in the wake of the GFC gave way to a more facilitative approach, recognizing FinTech’s potential to enhance competition and safeguard sovereignty. While the Autorité des Marchés Financiers (AMF) adopted an innovation-friendly stance early on, the Banque de France/Autorité de Contrôle Prudentiel et de Résolution (ACPR) displayed initial caution, with their views gradually converging by 2020. By offering a longitudinal study, the chapter captures pre- and post-crisis regulatory beliefs and examines the governance of financial innovation through the lenses of historical institutionalism and bureaucratic politics. This chapter offers insights into the dynamics of regulatory adaptation in France’s financial sector.

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The Interpretive Politics of FinTech Regulation in France: An Analysis of Top French Financial Regulatory Leadership Speeches on FinTech Between 2000 and 2020

  • Daphnée Papiasse

摘要

This chapter constitutes the first of four empirical chapters mapping patterns of French regulatory attention to financial innovation, including the recent wave of FinTech. It examines shifts in regulatory attitudes following the 2008 Global Financial Crisis (GFC), the persistence of post-crisis ideologies, and consistency across domestic authorities. Initial caution in the wake of the GFC gave way to a more facilitative approach, recognizing FinTech’s potential to enhance competition and safeguard sovereignty. While the Autorité des Marchés Financiers (AMF) adopted an innovation-friendly stance early on, the Banque de France/Autorité de Contrôle Prudentiel et de Résolution (ACPR) displayed initial caution, with their views gradually converging by 2020. By offering a longitudinal study, the chapter captures pre- and post-crisis regulatory beliefs and examines the governance of financial innovation through the lenses of historical institutionalism and bureaucratic politics. This chapter offers insights into the dynamics of regulatory adaptation in France’s financial sector.