the Journal of Regulation

Updated: May 1, 2010 (Initial publication: Feb. 11, 2010)

Contributions

Sectorial report (Personal Data) : A decree of December 16th, 2009 establishes a Common National Repertory of social security information to reduce fraud. This Repertory is a huge compilation of Personal Data.

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Feb. 9, 2024

JoRC

🧮International Arbitration in support of the Compliance Obligation

► Full Reference: Journal of Regulation & Compliance (JoRC) and Institute of World Business Law of the ICC (Institute), L'arbitrage international en renfort de l'obligation de Compliance (International Arbitration in support of the Compliance Obligation, Conseil Économique Social et Environnemental, Paris, February 9, 2024

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🏗️ This symposium takes place in the cycle of symposiums organised by the Journal of Regulation & Compliance (JoRC) and its Partner Universities, focusing in 2023-2024 on the general theme of Compliance Obligation.

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► The symposium is organised by the Journal of Regulation & Compliance (JoRC) and the Institute of World Business Law of the ICC (Institute).

The manifestation is under the scientific coordination 🕴️ Laurent Aynès🕴️Marie-Anne Frison-Roche, 🕴️Jean-Baptiste Racine. and🕴️Eduardo Silva-Romero.

It will be held in French and in English.

To registrer for following on site and online: anouk.leguillou@mafr.fr (please specify in your e-mail whether you wish to attend the event on site or online)

As places are limited, you will be asked to confirm 48 hours in advance

🧮The event will take place at the Conseil Économique Social et Environnemental, 9, place d’Iéna, 75116 Paris, on February 9, 2024, between 9 am and 12.45 pm.

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► Presentation of the topic: "Compliance Obligation" appears to be far from International Arbitration if Compliance Law is only understood in terms of binding regulations or even Criminal Law. Arbitration would only have contact with Compliance Obligation in a repulsive way, when a person claims to have enforced a contract before an arbitration court that disregards a compliance prohibition, e.g. corruption or money laundering. It is therefore from a negative angle that the cross-over has taken place.

The fact that Arbitration Law respects the requisite of Criminal Law is nothing new. Moreover, the power of Compliance in its detection and prevention tools, particularly in terms of evidence, no doubt increases the global efficiency.

But Compliance Obligation is based on Monumental Goals, notably linked to global human rights and active ambitions about environment and climate which, particularly in the value chain economy, take the legal form of compliance clauses, or even compliance contracts, or various commitments and plans, which the parties can ask the international arbitrator to enforce. They will do so even more as arbitrators are often the only international, or even global, judges available.

The use they will do of Contract Law, Quasi-Contract Law, Enforcement Law, Tort Law, reinforces Compliance Law in a global dimension.

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The symposium, and the articles following, will expose the crucial global movement that starts. l

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Speakers:

🎤 Laurent Aynès, emeritus professor of Law at Paris 1 Panthéon-Sorbonne University, attorney, Darrois Villey Maillot Brochier law firm (Paris)

🎤 Marie-Anne Frison-Roche, professor of Law, director of the Journal of Regulation & Compliance (JoRC)

🎤 Jean-François Guillemin, former General Secretary of the Bouygues Group

🎤 Christophe Lapp, attorney, Advant Altana (Paris)

🎤 Jean-Baptiste Racine, professor of Law at Paris Panthéon-Assas University (Paris 2)

🎤 Eduardo Silva-Romero, president of the Institute of World Business Law of the ICC (Institute), attorney, Wordstone (Paris)

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The symposium work will be the basis of complete chapters in the books:

📕 L'obligation de compliance, to be published in the collection 📚Regulations & Compliance, copublished by the Journal of Regulation & Compliance (JoRC) and Dalloz.

📘Compliance Obligation, to be published in the collection 📚Compltiance & Regulation, copublished by the Journal of Regulation & Compliance (JoRC) and Bruylant.

🔻 read une first presentation of the manifestation below ⤵️

en savoir +

Updated: Nov. 16, 2010 (Initial publication: Oct. 1, 2010)

I. Isolated Articles

I-1.16 : The G-20 and Global Economic Regulation: Fueling the Progressive Development of International Law?

ENGLISH

I would suspect that most regulatory law practitioners—whether they represent government or private interests--feel as if the tidewaters of global regulation have slowly but surely risen within the past few years. Those involved in the fields of competition, environmental or financial law must feel as if the global regulatory waters have reached up to their knees.

FRANCAIS

Article: le G-20 et la régulation économique mondiale: un moyen d'alimenter le développement progressif du droit international?

Je soupçonnerai volontiers que la majorité des praticiens du droit de la régulation - qu'ils représentent les gouvernements ou des intérêts publics - ont le sentiment que les eaux de la régulation mondiale ont monté lentement mais sûrement au cours des dernières années. Ceux qui exercent dans les domaines légaux de la concurrence, de l'environnement ou de la finance doivent eux avoir l'impression qu'elles ont atteint leurs genoux.

GERMAN

Artikel; Die G-20 und die globale wirtschaftliche Regulierung: ein Beitrag zur Entwicklung des internationalen Privatenrechtes?

Ich vermute, dass die meisten Praktiker des Regulierungsrechtes - entweder für öffentlichen- oder privaten Institutionnen arbeitend - das Gefühl haben, dass die Gewässer der globalen Regulierung letztlich langsam aber sicher angestiegen sind. Und diejenigen, die im Bereich Wettbewerb, Umwelt oder Finanz arbeiten, haben sicher das Gefühl, dass die Gewässer schon kniehoch sind.

ITALIAN

Il G20 e la regolazione economica globale: verso l’alimentazione di uno sviluppo progressivo del diritto internazionale?

Direi che la gran parte degli operatori in materia di regolazione normativa – portatori di interessi pubblici o privati – hanno la sensazione che la marea della regolazione economica globale sia, seppur lentamente, sicuramente salita negli ultimi anni. Coloro che operano in materia di diritto della concorrenza, diritto dell’ambiente o diritto finanziario devono aver la sensazione che le acque della regolazione siano arrivate fino alle ginocchia.

CHINESE

二十国集团和全球经济调控：促进国际法前进发展？

我猜测多数的法律规制从业者，无论是代表政府或是私人利益，都感觉到全球化调控的浪潮似乎已经减缓，但事实上其在过去的几年中依然增长。与竞争、环境和金融的相关法律领域很可能已经感到全球化调控的浪潮在与日俱增。

SPANISH

El G-20 y la regulación económica global: ¿alimentando el desarrollo progresivo del derecho internacional?

Yo sospecharía que la mayoría de aquellos que practican la ley – ya sea que representen los intereses públicos o privados – se sienten como si las aguas de la regulación global han aumentado lentamente durante los últimos años. Aquellos que están involucrados en el campo de la competición o las leyes ambientales o financieras ya deben de sentirse como si las aguas de la regulación global les han llegado hasta las rodillas.

The colloquium aims initially to identify and discuss the procedural rules that they then specifically implement, in particular when the strong requirements of Compliance Law, efficiency and immediacy, new negotiation techniques and commitment, must be articulated with the traditional procedural requirements that remain.

The question arises in particular as to whether the rules of a fair trial should apply (or can they be similar in transactional procedures and in the context of judicial procedures, and how the control by judges operates during homologation) in transactional procedures, with more or less specific treatment of the evidence used.

Secondly, the colloquium considers the way in which the different judges assess the different constitutive standards of Compliance Law. These are often soft Law and depending on whether the judge is repressive, administrative, or European, his or her assessment will not be legally of the same scope or of the same nature, which together leads to an issue of articulation of method. Due to the breadth of the subject, certain sectors will be particularly examined, in particular the banking sector.

Thirdly, the way in which the judge himself or herself applies Compliance Law will be examined, in what appears to be a balance between pedagogy and sanction. It then appears to play a triple role, in that it ensures compliance with standards but also in that it must find effective solutions in a Law which is more in Ex Ante than in Ex Post and that it must support operators so that they act effectively, by mastering their obligations. The motivation for decisions then appears to be a primary issue.

Because this last phase concerns the even more direct relationship between the judge and the operators and stakeholders, this theme is intended to give rise to a presentation and a round table.

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Will speak notably:

Claudie Boiteau, Professor at Paris Dauphine-PSL University, Member of the Centre de Recherche en Droit de l'Université Paris Dauphine-PSL (CR2D).

Jean-François Bohnert, Financial National Prosecutor

Olivier Catherine, Secretary General at Sonepar

Nicolas Cayrol, Professor at Tours Law School and Director of the Institut d'Etudes Judiciaires François Grua

Jean-Michel Darrois, Attorney, Darrois, Villey, Maillot, Brochier Law Firm

Marie-Laure Denis, President of the CNIL

Eric Dezeuze, Attorney, Bredin Prat Law Firm

Marie-Anne Frison-Roche, Professor at Sciences Po (Paris), Director of the JoRC

Juliette Morel-Maroger, Professor at Paris Dauphine-PSL University

Sophie Scemla, Associate attorney, Gide Law Firm

Sophie Schiller, Professor at Paris Dauphine-PSL University

Read a more detailed presentation below:

en savoir +

Updated: Nov. 25, 2010 (Initial publication: Oct. 14, 2010)

I. Isolated Articles

I-1.20 : Regulation by Trust : the example of Stress Tests

ENGLISH

On July 23, 2010 was published the awaited European-wide stress test, a mechanism designed by regulators to restore trust in markets through the mean of transparency. This paper examines the effect of trust on market from an economic perspective as well as from a sociological one. The paper demonstrated how trust, because it aims at achieving transparency which is Regulation’s number one tool, is not only necessary to economic growth but also participates to fulfilling regulatory objectives, such as market stability, risk prevention and consumer protection. Indeed, because Regulation is a mechanism aiming at preventing market failures, it needs as many tools, such as sociological ones (e.g. incentives) it may use to achieve such aim. The paper suggests that transparency is a tool for Regulation since it acts as a communicating vessel between regulatory objectives (microprudential) and supervisory ones (macroprudential), which both contribute to Regulation’s broader objective: the stability of a system.

FRENCH

Article: la régulation par la confiance: l'exemple des stress tests

 Le 23 juillet 2010 a été publié le très attendu stress test à l'échelle européenne, un mécanisme conçu par les régulateurs pour restaurer la confiance dans les marchés par la transparence. Cet article examine les effets de la confiance sur les marchés dans une perspective économique et sociologique. L'article démontre en quoi la confiance, parce qu'elle a pour but d'installer la transparence, premier objectif de la Régulation, n'est pas seulement nécessaire à la croissance économique, mais participe également à l'accomplissement d'objectifs régulatoires, comme la stabilité du marché, la prévention du risque et la protection du consommateur. En effet, parce que la Régulation est un mécanisme visant à empêcher les défaillances de marché, elle a besoin d'autant d'instruments, y compris sociologiques (p.ex. les incitations), dont elle peut avoir usage pour atteindre cet objectif. L'article suggère que la transparence est un outil pour la Regulation puisqu'elle joue le rôle de transmetteur entre des objectifs régulatoires (micro-prudentiels) et des objectifs de supervision (macro-prudentiels), qui tous deux contriibuent à l'objectif plus large de la Régulation: la stabilité d'un système.

GERMAN

Artikel: Durch Vertrauern regulieren: das Beispiel den Stress Tests

Am 23. Juli 2010 wurden die erwarteten Ergebnisse den europaweiten Stress Tests bekanntgegeben. Diese Tests wurden von den Regulierungsbehörden dazu erfasst, um das Vertrauern auf Märkten durch Transparenz wiederherzustellen. Dieser Artikel erforscht die Auswirkung von Vertrauern auf Märkten auf einer ökonomischen und soziologischen Perspektive. Er zeigt, inwieweit Vertrauern, das den ersten Ziel der Regulierung, die Transparenz, einsetzen soll, nicht nur notwendig für die Wachstum ist, sondern auch für die Durchsetzung von Regulierungsziele, wie Marktstabilität, Riskverhütung, und Verbraucherschutz. Zwar ist Regulierung ein Mechanismus, das darauf zielt, Marktversagen zu vermeiden, sie braucht so viele Instrumente, einschliesslich soziologische Instrumente (z.B. Anreize), die sie brauchen könnte. Der Artikel deutet an, dass Transparenz ein Instrument der Regulierunh ist, da sie die Übertragung von Regulierungsziele (mikroprudentiel) und Überwachungsziele (makroprudentiel) erlaubt, was zum breiten Ziel der Regulierung beiträgt, und zwar die Systemstabiliserung.

SPANISH

La regulación a base de confianza: el ejemplo del estudio del estrés

El 23 de julio del 2010 fue publicado el muy esperado estudio del estrés, que se llevó a cabo a través de toda Europa, lo cual es un mecanismo diseñado por reguladores para restaurar la confianza en los mercados utilizando el valor medio de la transparencia. Este informe examina el efecto de la confianza sobre el marcado desde una perspectiva económica al igual que desde una perspectiva sociológica. El informe demuestra que la confianza, precisamente porque su objetivo es la transparencia que es el instrumento primordial de la Regulación, no sólo es necesaria para el crecimiento económico, sino que también contribuye a la realización de los objetivos regulatorios, como la estabilidad del mercado, la prevención del riesgo y la protección al consumidor. Por lo tanto, ya que la Regulación es un mecanismo cuyo objetivo es prevenir los fallos del mercado, necesita de la mayor cantidad de instrumentos posibles, como instrumentos sociológicos (por ejemplo, los incentivos), para cumplir con su meta. El informe sugiere que la transparencia es un instrumento para la Regulación ya que actúa como una nave comunicativa entre los objetivos regulatorios (microprudencial) y los objetivos de supervisión (macroprudencial), que juntos contribuyen al objetivo más amplio de la Regulación: la estabilidad del sistema.

ITALIAN

Articolo: Regolazione attraverso la fiducia: l’esempio degli stress test

Il 23 luglio 2010 é stato pubblicato il tanto atteso stress test a livello europeo, un meccanismo ideato dai regolatori al fine di rassicurare i mercati attraverso la trasparenza. Tale studio esamina gli effetti della fiducia sul mercato da un punto di vista economico e sociologico. Lo studio dimostra come la fiducia, puntando a raggiungere una maggiore trasparenza, meccanismo primario della regolazione finanziaria, non é solamente necessaria per la crescita economica ma contribuisce inoltre a raggiungere gli obiettivi dei regolatori come la stabilità del mercato, la prevenzione del rischio e la protezione dei consumatori. Inoltre, poiché la regolazione é un meccanismo che vuole evitare i mancati funzionamenti del mercato, sono necessari per raggiungere tale scopo diversi strumenti, tra cui quelli sociologici (ad esempio gli incentivi). Questo studio suggerisce che la trasparenza é uno strumento di regolazione dal momento in cui costituisce il vaso comunicante tra gli obiettivi della regolazione (micropudenziale) e quelli della supervisione (macroprudenziale). Entrambi questi obiettivi contribuiscono al più ampio obiettivo della regolazione: la stabilità di un sistema.