Saint Pierre and Miquelon is a self-governing territorial overseas collectivity of France. Information for France may be included below:

FATF Status

France is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The latest follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in France was undertaken in 2022. According to that Evaluation, France was deemed Compliant for 19 and Largely Compliant for 18 of the FATF 40 Recommendations. It was rated Highly Effective for 3 and Substantially Effective for 6 of the Effectiveness & Technical Compliance ratings.

Saint Pierre and Miquelon, as a self-governing territorial overseas collectivity of France, is subject to French anti-corruption laws aimed at enhancing transparency and accountability in public life. The "Loi Sapin II" established a framework for combating corruption, including the creation of an anti-corruption agency and requirements for lobbyists to register, while France's ranking on Transparency International's 2023 Corruption Perceptions Index indicates ongoing challenges in public procurement and political funding. Despite legislative advancements, enforcement of foreign bribery laws remains inadequate, with calls for improved prosecution and awareness efforts among businesses regarding the risks of corruption.

The economy of Saint Pierre and Miquelon is primarily based on fishing and the servicing of fishing fleets, although it has experienced a decline due to fishing quota disputes and decreased ship traffic. The islands benefit from significant subsidies from France, which bolster the local standard of living, while tourism is being promoted as a key area for economic growth alongside efforts to diversify into aquaculture and potential oil exploration.

The investment climate in Saint Pierre and Miquelon benefits from its status as an overseas collectivity of France, which ensures a stable regulatory environment. The local government actively promotes investments in tourism and aquaculture to foster economic diversification and sustainability, while also supporting workforce retraining and business development initiatives.