Tag Archives: France

Overview of 2016 French Financial Regulations

The ACPR and AMF, French financial regulators, focused on anti-money laundering and anti-terrorism, internal control procedures, conflicts of interest and market abuse infringements in 2016.  While the focus may have shifted, financial sanctions made up 90% of the penalties in 2016.  In fact, financial regulators’ powers of sanction have drastically broadened over the last decade … Continue Reading

Substantial Change to Come For Anti-Corruption Law in France

French parliamentarians are considering landmark anti-corruption laws that would be a considerable breakthrough for those in the fight against corruption. The French Constitutional Council must vote on the legislation within one month, and even if it is ruled invalid there are steps to be taken to keep the legislation alive. Some of the changes include … Continue Reading

Sweeping Changes on the Horizon for French Bribery and Anti-Corruption Law

After being called upon by the Organisation for Economic Co-operation and Development to strengthen its anti-corruption efforts, France recently examined draft legislation which would do exactly that.  While discussions before the French Parliament are not expected to begin for a few months, the implications of this legislation are expansive, and represent a revolution in French anti-corruption … Continue Reading

From ‘Akzo’ to ‘Loi Macron’: There is still no Legal Privilege for In-House Lawyers in France

A significant difference between the French and U.S. and UK legal systems is in the understanding of legal privilege: it does not exist for in-house counsel in France. The French approach is in line with the 2010 Akzo decision, in which the Grand Chamber of the European Court of Justice (ECJ) ruled that the requirement … Continue Reading

A Brave New World? The “French Sunshine Act” imposes online disclosure of contracts with HCPs, as well as of payments of “advantages” to HCPs, dating back to 01 January 2012

In probably one the longest-awaited decrees in recent French regulation, the French Ministry of Health published on 22 May 2013, the application decree to the French Sunshine Act (dated 29 December 2011) implementing the specific ways and means that health care companies must disclose agreements with health care practitioners (“HCPs”), a term that includes medical … Continue Reading

France: Code of Conduct compliance breach is not automatically a sufficient reason for employee termination – Employers should be cautious of a ‘right’ local implementation of compliance guidelines

On 19 December 2012, the French Supreme Court (‘Cour de cassation’) ruled over a case that should remind any international organization that the worldwide adoption of compliance guidelines and of a Code of Conduct is not in itself a sufficient protection against compliance breaches: everything depends on how these tools are implemented locally.   The … Continue Reading

‘Sunshine Act’ à la française adopted on 29 December 2011. Healthcare and cosmetics companies will be subject to a tough transparency regulation in France

A new rule, adopted on 29 December 2011 and published on 30 December 2011 after an unusually expedited procedure due to strong government pressure, will heavily modify the regulatory framework in which healthcare companies, but also to some extent cosmetics companies, operate in France. Besides replacing (next August, but the law has immediately been enforced) … Continue Reading
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