FRANCE Law and Practice Contributed by: Jean-Christophe Devouge and Kaïs Boussadia, Aurès
For listed companies, financial disclosure rules require information provided to the market to be accurate, precise and not misleading. In this context, the dis - closure of AI-related matters could be driven by a materiality test: where the use of artificial intelligence is likely to have a significant impact on the company’s financial position, performance, risk profile or strategy, it should be disclosed to investors as part of the infor - mation necessary for them to make informed invest - ment decisions. Recent 2025 universal registration
documents nonetheless show a growing integration of AI within existing disclosure frameworks. While no standalone obligation exists, issuers increasingly address AI through governance disclosures (includ - ing board training and the integration of technologi - cal expertise), strategic discussions on its impact on business models and operations, and more detailed identification of related risks, particularly in terms of data quality, regulatory compliance and intellectual property.
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