The repression is inseparable from how to repress. This is why the procedural difficulties are indicative of underlying fundamental problems. Currently, the basic issue updated by the battles around the procedures of financial sanctions is about the sanction bais.
For the regulator, the penalty is one tool among others to regulate financial markets. The penalty in a continuum with its legislative powers, are its teeth and claws through which financial markets are developing. The purpose of financial policy justifies an objective repression with a probationary system often based on presumptions leading to impute breaches players in some positions on or financial markets. The regulator must have this card in hand and use it according to this method.
Moreover, if it happens that people commit reprehensible misconducts, perceived as such by the social group, they should be punished, possibly up to the prison. Only the criminal justice is legitimate to do so legitimately weighed down by the burden of proving intentionality, etc.
We must distinguish these two types of criminality. It is from there that the two procedures and two probationary systems can take place at the same time but on different offenses.
For now this is not the case, as "financial misconduct" are only the carbon copy of "financial crimes" lightened loads of evidence that protected the defendant and who should answer for now twice.
Procedural problem? No, problem of criminalization, which won't be released by procedural solutions, the most hazardous being to create a new institution, the most calamitous being to weaken the system by removing one of the ways of prosecution. It is necessary to make distinctions in the offenses that are currently redundant.
Thus, repression as a regulatory tool used by the Regulator is in focus, but the real financial criminal law remains to be consolidated to achieve its own and classic goal: punish faults including through the prison.
In the most developed nations, as in emerging countries, the economy and society are currently being entirely transformed by an industrial revolution originating in information and communication technologies.
Anti-competitive Behaviour Audacity - Autorité de Régulation des Communications Electroniques et des Postes (ARCEP - French Electronic Communications and Posts Regulator) - Communication - Competition - Confidence - Cooperation - Darwin - Digital revolution - Discrimination - European Commission - Ex ante / Ex post - Fiber optic - Future - impredictibility - Information - Infostructure - Infrastructure - Innovation - Internet - Lamarck - Napoleon - Network - Overregulation - Risk - Uncertainty - Underregulation *
* In The Journal of Regulation, these keywords are done by the Editor and not by the Author.
ITALIAN
Articolo: Innovazione e regolazione al servizio della rivoluzione digitale
Nelle nazioni le più sviluppate, nonché negli stati in via di sviluppo, l’economia e la società sono completamente trasformati da un rivoluzione industriale che trova le sue origini nelle teconologie d’informazione e di comunicazione.
Autorité de Régulation des Communications Electroniques et des Postes (ARCEP – Autorità francese di regolazione dei servizi postali e di telecomunicazione) – Commissione Europea - Comportamento anticoncorrenziale – Comunicazione – Concorrenza – Cooperazione – Darwin – Deregolamentazione - Discriminazione - Ex ante / Ex post – Fibra ottica – Imprevisibilità – Incertezza - Inflazione normativa - Informazione – Infostruttura – Infrastruttura – Innovazione – Internet – Lamarck – Napoleone – Rete – Rischio - Rivoluzione digitale *
* In The Journal of Regulation, le parole chiave sono responsabilità dell’Editore e non dall’Autore.
PORTUGUESE
Artigo: Inovação e Renovação a serviço da Revolução digital.
Nos países mais desenvolvidos, bem como nos em desenvolvimento, a economia e a sociedade vem sendo, atualmente, completamente transformados por uma revolução industrial baseada em tecnologias da informação e da comunicação.
Comportamento anti-concurrencial – Autoridade de regulação das comunicações eletrônicas e dos correios (ARCEP – Regulador francês de Comunicações e dos Correios) – Comunicação – Concorrência – Confiança – Cooperação – Darwin - Revolução digital – Discriminação – Comissão Europeia – Ex ante / Ex post – Fibra ótica – Futuro – Imprevisibilidade - Informação – Info-estrutura – Infra-estrutura – Inovação – Internet – Lamarck – Napoleão – Rede – Sobre-regulação – Risco – Incerteza – Sub-regulação.*
* No Journal of Regulation, as palavras-chave são fornecidas pelo Diretor, e não pelo Autor.
SPANISH
Artículo: Innovación y regulación sirviendo la revolución digital
En las naciones más desarrolladas, tal como en los países emergentes, la economía y la sociedad están actualmente siendo transformadas por una revolución industrial provenientes de las tecnologías informáticas y de telecomunicaciones.
The optic fiber is a very difficult issue for regulators: they want its deployment, for the good of consumers, but they are not willing to pay much more for this and the operators are not prepared to invest without profitability. Incentives are insufficient and uncertainties, major flaw of the regulation, are very large. This is why the European Commissioner in charge of digital, Mrs. Neelie Kroes, announced that on the one hand that the system would now stable for regulation of the optic fiber and that on the other hand there is no more tendency of the regulator to lower the price of access to cost method which discourage operators to invest.
Rating agencies are in the eye of the cyclone, due to the ambiguity of the situation: by their status, they are simple operators but by their role are almost regulators. Governing the markets, the banks can not for the moment dispense with them. However, the rating market is oligopolistic. On August 1, 2012, the association of German public banks complained that the prices practiced by rating agencies are monopoly pricing. What is remarkable is that this a complaint is made not to the European Competition Authority, the Commission, but to the European Banking Authority (EBA). Thus, regulation is a tool and a wider tool more than is the competition.
The role of fibre is very important towards connecting to ultra-fast broadband, one of the key action areas of the Digital Agenda. But, Europe is late in its fibre deployment, especially when compared to other advanced economies such as the United States or Japan. At the same time, however, there is still no standard for a European fibre strategy: public as well as private stakeholders are having very different approaches in local FTTx deployment sometimes leading to a waste in private and public funds and being mainly focused on dense areas. This article aims to propose an efficient model for fibre network deployment that can be applied to all European Member States. The model provides high-margin incentives for operators to install fibre network across the whole country, while maximising households’ fibre connection rate through an automatic migration scheme. In a period of weak growth and budget restrictions, the catch-up in ultra-fast broadband internet requires more than ever an efficient policy to maximise the deployment of FTTH at the lowest cost possible to the public. The proposed model serves as an ideal choice given this context.
* In The Journal of Regulation, these keywords are done by the Editor and not by the Author.
PORTUGUESE
Artigo: Do cobre à fibra: uma política de regulação ótima.
O papel da fibra é muito importante em conexões de banda larga de alta velocidade, uma das principais ações na área da Agenda Digital. No entanto, a Europa está atrasada no desenvolvimento da fibra, especialmente quando comparada com outras economias avançadas como Estados Unidos ou Japão. Ao mesmo tempo, porém, ainda não há um patamar para uma estratégia europeia para a fibra: detentores de haveres públicos e privados têm tido diferentes posturas no desenvolvimento de FTTx local, o que leva às vezes a um desperdício de fundos públicos e privados e sendo sobretudo registrado em áreas de densidade. Este artigo objetiva propor um modelo eficiente para o desenvolvimento da rede de fibra que possa ser aplicado para todos os Estados Membros Europeus. O modelo prevê incentivos altos para operadores para instalar redes de fibra por todo o país, enquanto maximiza a taxa de conexões domésticas de fibra através de um esquema de migração automática. Em um período de crescimento desacelerado e restrições orçamentárias, um novo impulso em banda larga de alta velocidade requer mais do que nunca uma política eficiente para maximizar o desenvolvimento de FTTH ao menor custo possível para o público. O modelo proposto serve como uma escolha ideal dado este contexto.
Operador alternativo – Orçamento – Conexão – Rede de cobre – Custo – Agenda digital – Duplicação – Eficiência – Facilidades essenciais – Europa – Fibra ótica – França – Incentivo – Operador – Infra-estrutura – Internet – Monopólio natural econômico – Rede – Preço – Provedor – Política de regulação*.
* No Journal of Regulation, as palavras-chave são fornecidas pelo Diretor, e não pelo Autor.
ITALIAN
Articolo: Dal rame alla fibra: un’ottima politica di regolazione
Il ruolo della fibra è molto importante per la connessione ad alta velocità, una delle azioni centrali dell’agenda digitale. Tuttavia l’Europa è in netto ritardo per quando riguarda lo sviluppo della fibra, in particolare rispetto all’economia di altri paesi come gli Stati Uniti o il Giappone. Questo si capisce, però, in quanto non esiste uno standard per la strategia dell’Europa in materia di fibra: gli attori privati e pubblici del settore della fibra stanno avendo degli approcci differenti nei confronti della realizzazione dei FTTx, e tali approcci spesso si concludono in uno spreco di investimenti e si concentrano spesso su aree ad alta densità. Questo articolo si propone di trovare un modello efficace per la realizzazione di una rete a fibra in tutti gli Stati membri. Questo modello prevede degli incentivi elevati per gli operatori che installano delle reti a fibra ottica nei loro paesi, e massimizza la percentuale di connessioni a fibra ottica per nucleo familiare con un sistema di migrazione automatico. In un periodo di crescita ridotta e restrizioni di budget, lo sviluppo di connessioni a fibra ottica richiede una politica quanto mai efficace per massimizzare lo sviluppo del FTTH ai minimi costi possibili per i conti pubblici. Il modello proposto costituisce una scelta essenziale, in considerazione del contesto esistente.
Agenda digitale - Budget - Connessione - Connessioni su rame - Costi - Duplicazione - Efficienza - Europa - Fibra ottica - Fornitore - Francia - Incentivi - Infrastruttura - Infrastruttura essenziale - Internet - Monopolio economico naturale - Operatore alternativo - Operatore storico - Prezzo - Politica di regolazione - Rete *
* In The Journal of Regulation, le parole chiave sono responsabilità dell’Editore e non dall’Autore.
SPANISH
Artículos: Del cobre a la fibra : una política regulatoria óptima
El rol de la fibra óptica es de gran importancia en lo que concierne la conexión al ancho de banda ultrarrápida, una de las áreas claves de acción en la Agenda Digital. Sin embargo, Europa se encuentra atrasada en cuanto a su desarrollo, especialmente en comparación con otras economías avanzadas, como la de los EEUU o Japón. No obstante, todavía no existe un estándar para una estrategia europea para la red de fibra óptica; accionistas, tanto privados como públicos, han estado adoptando diferentes acercamientos a la implementación de los FTTx, lo cual suele llevar a un enfoque sobre áreas demasiado densas y al desperdicio de fondos privados y públicos. Este artículo tiene como objetivo proponer un modelo eficiente para el desarrollo de la red de fibras ópticas que podría aplicarse a todos los miembros de la Unión Europea. El modelo provee incentivos de gran margen de ganancias para operadores para la instalación de estas redes de fibras a través del país entero y al mismo tiempo maximiza la conexión rápida de fibras en todas las viviendas facilitado por el uso de un esquema de migración automática. En un periodo de crecimiento débil y restricciones presupuestarias, el “catch-up” en el Internet de banda ancha ultrarrápida requiere ahora más que nunca una política eficaz para maximizar el desarrollo del FFTH y minimizar el coste incurrido por el público.
Regulation Law, in order to recognize and draw the consequences from the specificities of some objects, has been build, at the start, around the notion of "technical sector" although their delimitation is partially related to a political choice. But, in facts, there are multiple points of contacts between sectors, actors moving from one to another as objects. The regulatory solution is so to climb over some technical borders through the methodology of interregulation which is by the way the only one to enable the regulation of some phenomena going beyond the notion of sector and related to Compliance Law.
This news takes the exemple of companies furnishing new payment services. In order to they can provide these services, these firms needs to access to banking accounts of concerned people and so to very sensitive personal data. Regulation of such a configuration needs a cooperation between the banking regulator and the personal data regulator. Legislation being not sufficient to organize in Ex Ante this interregulation, the European Data Protection Board has published some guidelines on 17th of July 2020 about the way it conceives the articulation between the PSD2 (European directive about payment services) and GDPR and has announced that it intended to expand the circle of its interlocutors to do this interregulation. Such an initiative from EDPB can be justified by the uncertainty about how interpreting both texts and articulating them.
The “Conseil économique, social et environnemental – CESE” (French Economic, Social and Environmental Council) expressed its approval of the “Stratégie nationale de développement durable SNDD” (new French National Strategy for Sustainable Development), on January 27 2010, which has been drawn up by the Government for the period 2009-2013. This national strategy is to become the tool for establishing a new model of economic development.
The financial crisis and the banking technology shows that the "trading" is specific. This is why the Basel Committee estimates that it appropriate to regulate banks trading activity in a specific way. But it is difficult to characterize the activity of "trading" and actual banking activity itself.
Trading is limited to negotiation; it justifies less equity as security, since it does not present credit risk. But this characterization even is questionable. This is why a consultation opened on May, 3 by the Basel Committee, and the qualification, and the classification of operations, and the measures of prevention of risks to be taken by specific prudential measures. Responses can be made until September 7, 2012.
On December 10, 2010, the Commission de Régulation de l’Energie (CRE – French Commission for Energy Regulation) and the Autorité des marches financiers (French Securities Regulator – the AMF) entered into a memorandum of understanding (the MoU). Cooperation between these two sector based regulators is, for the most part, set against the background of, and aims at, a better (or, rather, burgeoning) regulation of the market for CO2 emission allowances and is grounded in the following principles:
- both regulators undertake to transmit information necessary to fulfilling each other’s respective expanded legal mandate, i.e.:
o protecting investments made in CO2 emission allowances (e.g. by detecting and punishing market abuses, i.e. insider trading, market manipulations, dissemination of false information) for the AMF and;
o overseeing transactions made by market participants on the spot and derivatives markets for CO2 emission allowances to make sure that such transactions are in line with transactions made on the markets for electricity and natural gas for the CRE;
- such mutual information is to notably take the form of regular bilateral meetings at various levels and mutual information may now cover data that the AMF had to keep confidential due to strict legal privilege restrictions applicable to its officers.
