Sectors

Updated: June 11, 2010 (Initial publication: May 20, 2010)

Sectorial Analysis

 

The Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin (the German Federal Financial Supervisory Authority) issued on Tuesday May 18th 2010 three decrees prohibiting temporarily naked short selling. These decisions are effective from May 19th 2010 until March 31th 2011. They will be regularly assessed and can be lifted during this period.
 
FRENCH


La Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin (l’autorité allemande de surveillance des marchés financiers) a interdit par trois décrets publié le 18 mai 2010 la vente à découvert à nu et les CDS du 19 mai 2010 au 31 mars 2011.



La Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin (l’autorité allemande de surveillance des marchés financiers) a publié mardi 18 mai 2010 trois décrets interdisant temporairement la vente à découvert à nu. Ces décrets prennent effet le 19 mai 2010 et durent jusqu’au 31 mars 2011. Ils seront régulièrement évalués et pourront être levés à n’importe quel moment durant cette période.
 
 
GERMAN


Die Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin hat am 18. Mai 2010 die ungedeckte Leerverkäufe und ungedeckte CDS auf Staatsanleihen der Eurozone untersagt.


Die BaFin hat drei Anordnungen am 18. Mai 2010 herausgegeben. Sie untersagen die ungedeckte Leerverkäufe von Schuldtiteln von Staaten der Eurozone, die an einer inländischen Börse zum Handel im regulierten Markt zugelassen sind, so wie ungedeckte CDS. Diese Verbote gelten vom 19. Mai 2010 bis zum 31. März 2011 und werden laufend überprüft.
 
SPANISH
 
La Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin (la Autoridad Supervisora de Finanza Federal Alemana) prohíbe las ventas de cortos al descubierto y los CDS a través de tres decretos que se aplicarán entre el 19 de mayo 2010 hasta el 31 de marzo 2011.
 
 
La Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin (la Autoridad Supervisora de Finanza Federal Alemana) publicó tres decretos el 18 de mayo del 2010 prohibiendo temporalmente la vena de cortos al descubierto. Estas decisiones serán efectivas desde el 19 de mayo 2010 hasta el 31 de marzo 2011. Serán asesoradas regularmente y podrán ser desmanteladas en cualquier instante durante este periodo.
 

CHINESE

Bundesanstalt für Finanzdienstleistungsaufsicht - (BaFin :德国金融市场监管机构)2010518日出台三项法令,规定在201059日至2011331日期间内禁止“裸卖空”和信贷违约掉期行为。

Bundesanstalt für Finanzdienstleistungsaufsicht - (BaFin :德国金融市场监管机构)2010518日出台三项法令暂时禁止“裸卖空”行为。这些法令将于201059日至2011331日内生效。它们将被定期评估并且可能在上述期限的任何时间被撤销。

Updated: June 3, 2010 (Initial publication: May 3, 2010)

Sectorial Analysis

Main information

The Commodity Futures Trading Commission (CFTC) published a proposition to regulate speculation through futures and option contracts on the over-the-counter energy market on January 26, 2010. This proposition is being challenged by the CME Group (the principal American futures market operator), which claims that the CFTC does not have a legal mandate to regulate over-the-counter trading in energy, because such action would have to be authorised by a specific law.

Updated: May 7, 2010 (Initial publication: April 7, 2010)

Sectorial Analysis

Main information

After the publication of the 21 January 2010 Ordinance implementing the Autorité de contrôle prudentiel (ACP - Prudential Control Authority), two decrees published on 3 March 2010 complete this legislation and define the institutional and budgetary workings of the new Authority.

Updated: May 6, 2010 (Initial publication: April 12, 2010)

Sectorial Analysis

Main information

Two Ministerial Orders of 5 March 2010 and a Ministerial Order of 8 March 2010 nominate the members of the Autorité de Contrôle Prudentiel (Prudential Control Authority), created by the Ordinance of 21 January 2010. Besides the Presidency, which will be exercised by Christian Noyer, governor of the Banque de France, the composition reveals the prevalence of banking regulators, which is a pragmatic consequence of the fact that insurers propose products equivalent in risk to those proposed by banks.

Updated: May 6, 2010 (Initial publication: April 7, 2010)

Sectorial Analysis

Main information

Following the creation of the Authority of Accounting Standards (ANC – autorité des normes comptables) by the Ordinance of 22 January 2009, the Decree of 15 January 2010 defines its operational structure.

Updated: May 6, 2010 (Initial publication: April 7, 2010)

Sectorial Analysis

Main information

The Ministerial Order of 19 January 2010 introduces a new approach to risk management within banks and investment firms : a transversal approach to risk, that is expressed through the creation of ‘risk departments’ (filière risques) within banks.

Updated: May 6, 2010 (Initial publication: Feb. 25, 2010)

Sectorial Analysis

Main information

The Basel Committee on Banking Supervision approved a package of new proposals to strengthen global capital and liquidity regulations for consultation, as part of its comprehensive response to the international financial crisis.

May 4, 2010

Thesaurus : Doctrine

Complete reference: Daugareilh, I (ed.), Responsabilité sociale de l'entreprise transnationale et globalisation de l'économie, Bruylant, Bruxelles, 2010, 818 p.

Read the coverback (in French)

Read the introduction (in French)

Read the table of contents (in French)

June 23, 2009

Thesaurus : 05.4. European Court of Human Rights (ECHR)

Read the judgment. (in French)

Feb. 14, 2007

Thesaurus : Doctrine

Dec. 1, 2006

Thesaurus : Doctrine

Complete reference : Trébulle, F.-G., Stakeholders Theory et droit des sociétés, Bull. Joly Sociétés, 1st Dec. 2006, p.1337 . ; 1st Jan. 2007, p.1 et s.

June 16, 2004

Thesaurus : Doctrine

June 10, 2003

Thesaurus : Doctrine

Complete Reference : Trébulle, François-Guy, L'environnement en droit des affaires, in Mélanges en l'honneur de Yves Guyon, Aspects actuels du droit des affaires, Paris, Dalloz, p.1035-1059.

 

 

Dec. 3, 1999

Thesaurus : 03. French Council of State

Oct. 26, 1999

Thesaurus : Doctrine

Référence complète : Jeantin, M., Le droit financier des biens, in Prospectives du droit économiques. Dialogues avec Michel Jeantin, Dalloz, 1999, p.3-16.

Feb. 5, 1999

Thesaurus : 02. French Court of Cassation

June 17, 1998

Thesaurus

Jan. 8, 1998

Thesaurus : Doctrine

Complete reference : Aglietta, M. and Orléan, A., La monnaie souveraine, Ed. Odile Jacob, Paris, 1998, 386 pages.

Read the coverback.

Read the table of contents