Complete reference: KOVAR, Jean-Philippe and LASERRE CAPDEVILLE, Jérôme, Droit de la régulation bancaire (Banking regulatory Law) , preface by Christian Noyer, RB Éditions, 333 p.

Read the coverback.

Read the table of contents.

Complete reference:  DECOCQ, Georges, GÉRARD, Yves and MOREL-MAROGER, Julienne, Droit bancaire (Banking Law), Collection "Master Banque", 2ième éd., RB édition, Paris 2014, 387 p.

Read the coverback.

Read the table of content.

The Autorité des Marchés Financiers (AMF- French Prudential Supervision Authority) set up a Scientific Advisory Board under the supervision of its president Gérard Rameix, who is also president of the AMF.

The Scientific Advisory Board chose ‘Financial education in the digital era’ as the theme of its annual conference, which was held on 20 June 2016 in partnership with Paris School of Economics.

The conference was opened by François Villeroy de Galhau, Governor of the Banque de France (France’s central bank). He stated that financial literacy “shall help everyone make informed decisions”. In this regard, financial literacy is a “factor for economic efficiency and social fairness”, which justifies involvement from public authorities- including, namely, the Banque de France. In partnership with both the Autorité de Contrôle Prudentiel et de Résolution (ACPR- French Prudential Supervision Authority) and the AMF, the Banque de France ought to be a “caring educator, but an attentive regulator”, as it is “imperative that financial literacy and Regulation should be taken forward jointly, as to allow for new technologies to develop, which would be understood by all and for the benefit of all”.

Three roundtables followed. The first roundtable aimed at assessing financial literacy trends and their impact on the financial behaviour of consumers and investors in Europe. The second session focused on the opportunities opened up by new technologies (upon which Fintechs, e.g., crowdfunding platforms, data aggregators and automated financial advice services are thriving) as regards financial behaviours. Lastly, the third panel discussion, which involved several French (AMF, Institut National de la Consommation- INC, French National Institute for Consumer Affairs) and European (European Commission) Regulators, draw conclusions from the first two roundtables and discussed on the issues that an increasingly digitalised financial education raises for Regulatory authorities.

Since this conference raises many crucial questions for Regulation, it is important to recall what has been said in the panel discussion on the role of Regulator with regards to financial education (I.) before sharing some thoughts on this matter of particular interest (II.). 

Référence complète : Giraud, A., Exégèse de l'arrêt Groupement des Cartes Bancaires, RLDA, n°98, nov.2014, p.43-48.

Lire une présentation de l'arrêt et des conclusions de l'avocat général.

Les étudiants de Sciences po peuvent accéder à l'article lui-même par le Drive  de Sciences po.

L'auteur rappelle ce cas dans lesquelles les banques membres du GIE ont été condamnées par la Commission européenne, en ce que les nouvelles règles adoptées au sein de ce GIE de gestion du mécanisme des cartes bancaires, qualifiées de "régulation" avaient un "objet anticoncurrentiel", ce qui suffisait à justifier la condamnation des opérateurs (décision de la Commission du 17 octobre 2007). Le Tribunal de Première Instance a confirmé cette analyse par un arrêt du 29 novembre 2012, estimant que la condamnation était fondée, puisque par sa nature un tel accord était "susceptible de produire des effets négatifs sur la concurrence".

Cela est invalidé par la Cour de justice, qui casse l'arrêt et renvoie le cas devant le Tribunal de première instance car le fait que l'accord soit "susceptible d'affecter la concurrence" ne le rend pas "anticoncurrentiel par objet".

Read the Judgment (in French).

Read the conclusions of the General Counsel Nils Wahl.

Read about this Judgment a presentation of the article of Andrien Giraud, Exégèse de l'arrêt Groupement des Cartes Bancaires