Financial companies operating in France are subject to the supervision of the Autorité des Marchés Financiers (AMF). Established by the Financial Security Act of 2003, it is an independent body whose three core responsibilities are to safeguard investments, increase transparency in financial instruments and keep financial markets running smoothly. It is also charged with keeping the nation’s markets and financial services industry free of fraud and money laundering. As a rules-setter, France's AMF is responsible for implementing the EU’s MiFID II directive as well as its own General Regulation. Led by a Secretary General and governed by a board, the Paris-based AMF is empowered to investigate, enforce and prosecute regulatory breaches. As well as markets, listed companies, brokers, advisers and investment managers, it recently added digital asset issuers and service providers to the types of entities under its remit.