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The European Union, by adopting its regulation on Artificial Intelligence, known as the « AI Act, » established the first global regulatory framework designed to protect citizens from AI-related risks while stimulating innovation. In this context, the French Prudential Supervision and Resolution Authority (ACPR) is expected to play a crucial role in the financial sector, ensuring compliance with these new standards. In France, the ACPR is actively preparing its future supervisory missions by relying on an internal Task Force working on several priority areas, such as legal issues, AI auditing, and coordination with other European and national entities. By collaborating closely with the financial sector in this process, the ACPR aims to reconcile innovation and security while minimizing regulatory burdens for financial institutions. The European Regulation on Artificial Intelligence, also known as the « AI Act, » constitutes the first globally recognized regulatory framework to manage the risks associated with AI while promoting innovation. In France, the French Prudential Supervision and Resolution Authority (ACPR) is expected to play a central role in overseeing the application of this regulation in the financial sector. This article explores in depth the nature of this regulation, the ACPR’s new missions, and the preparations it is undertaking to fulfill this role.The European Regulatory Framework on Artificial IntelligenceBy adopting the AI Regulation, the European Union has taken an important step towards establishing a secure and innovative framework. The AI Act, although adopted, will not fully apply until August 2, 2026. However, the momentum to build a single market for trusted AI is well underway. The financial sector is particularly affected by this text in several respects, notably for the assessment of solvency and pricing in health and life insurance. These AI applications, considered « high risk, » will have to meet strict requirements such as transparency and human oversight. In France, it has been decided that the ACPR will be the designated supervisory authority to monitor these legal provisions. A Critical Mission Entrusted to the ACPR The ACPR will assume responsibility for overseeing the implementation of the AI Regulation in the French financial sector. This mission is aligned with the spirit of the regulation, which aims to balance security and innovation. The ACPR, aware of the challenge, advocates a risk-based approach, scaling efforts to the expected results, while striving to minimize the regulatory burden on financial institutions. To prepare for this mission, the institution has already initiated internal work, including the creation of a Task Force dedicated to this cause. ACPR Internal Work
As part of its preparations, the ACPR has established a Task Force composed of its various departments to address the many challenges posed by the AI Regulation. This team focuses on five major areas:
Legal and Regulatory Issues
The legal aspects requiring adjustments at both the national and European levels are the focus of attention. These include the complex interactions between the AI Regulation and other regulations relevant to the financial sector. AI Audit and Methodologies AI audit methodology raises several crucial technical issues such as fairness and explainability. The ACPR is committed to a collaborative approach with the financial sector to develop appropriate and effective solutions. National and European Partnerships Coordination with other national and European authorities is crucial to ensure smooth implementation of the regulation. The ACPR plans intensive collaborations to facilitate the sharing of experience and expertise. Internal Organizational StructureTo effectively fulfill its new missions, the ACPR is reviewing its internal organization to ensure the coherent integration of these new responsibilities.
Communication and Reporting
The ACPR emphasizes proactive communication with the financial sector. A recent meeting, bringing together some fifty specialists and financial institutions, served to exchange key information and assess the sector’s level of preparedness.
