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In the serie of conferences organized by the Journal of Regulation & Compliance (JoRC) on the topic of the Europe of Compliance, Jean-Jacques Daigre presented the general theme of this conference which took place on May 30, 2018 on the Compliance as an opportunity need to be seized by European companies.
By this, he made the general introduction to the conference that Xavier Musca, deputy director general of the Crédit Agricole Group, made on the way in which European companies of global dimension which had integrated this phenomenon could contribute to this Europe of Compliance, before Pierre Vimont reacted to these both speeches in a more institutional perspective.
Read below the restitution of this general presentation by Jean-Jacques Daigre.
Jean-Jacques Daigre firstly points out that the work on the definition of Compliance is still at its beginning and that it will instead start from the way it is perceived by companies.
The speaker said that it must be admitted that, rightly or wrongly, Compliance is rather negatively perceived by these, in particular because it makes them more functional, restricts their freedom and transforms them into police officers.
Compliance therefore refers to a series of constraints so that multiple and external rules are straightaway and flawlessly respected, which is seen as an objective outside the companies.
Jean-Jacques Daigre emphasizes that this phenomenon is nevertheless inevitable because it is inseparable from Globalization and that to escape it should also give up the principle of free trade and liberalism, which probably would not be appropriate for the companies concerned.
He pointed out that compliance certainly came from the United States and the financial sector, but except to deprive oneself of that economy and the financial sector and the dollar, as long as the enterprise concerned had an international activity, Compliance is simply unavoidable.
Moreover, Jean-Jacques Daigre said that he believes that it is not appropriate to apprehend Compliance as a kind of harm to undergo, because it corresponds to a need that refers to other considerations.
Indeed, global companies, often more powerful than States, can play with borders and legislation but sometimes have behaviors that hurt the people.
Compliance compensates for this asymmetry of power by internalizing in companies rules that are not technical rules but express and carry values. The challenge of Compliance is therefore that of values. However, the American values that are present in the compliance rules currently applied are sometimes the same as European values and sometimes they are not.
The practical and future challenge is therefore to build a European Compliance that reflects values and choices that express what Europe is. Jean-Jacques Daigre then returns to the definition he retains of the Republic in a European sense, that is to say a "democracy at the service of the general interest". This refers in particular to a less financial vision of what is the "company".
In this perspective, Europe must seize the powerful mechanism of Compliance to develop in practice and in the European companies such a conception, distant from the economic and political conception developed in the United States. It is not a question of embarking on a fight against these but of clearing on the European scale by relying on the big European companies our own values thanks to the Compliance.