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.
As soon as Legislation is case management, it becomes a matter of time, good timing, and efficiency.
Because the figure of the Law has changed its terms should change. The most appropriate law then appears the "experimental law", the "trial law." This ephemeral legislation as regulatory bodies promote, can claim to be part of the future only if it has "successful". Operators must be good students if they want to conserve the Law!footnote-14.
Thus, the law is only a draft and it is its success that allows the standard access to the status that was natural: the Act that applies to the future.
These precarious laws that certains authors and regulatory bodies present as the right model, challenge the constitutional principles, the Constitution itself being the supreme law governing the future.
This book shows the extent to which notions of efficiency, testing, flexibility, can attack the very idea of Parliament Law and Constitution. It is true that in regulatory systems everything becomes simple regulations, including laws but it is also true that constitutional courts are restive to admit "experimental laws".
Cet ouvrage montre jusqu'à quel point les notions d'efficacité, de test, de flexibilité, peuvent attaquer l'idée même de Loi et de Constitution. Il est vrai qu'en Régulation, tout ne deviendrait que réglementation, y compris la loi et il est vrai que les cours constitutionnelles sont rétives à admettre les "lois expérimentales".
Summary: By its judgment of September 24, 2020, the Constitutional Court of Belgium released an essential judgment which considers:
- Compliance Law which imposes obligations on entities to fight against money laundering and the financing of terrorism is legal requirements which must be analyzed on the basis of these goals
- the national transposition law is "broader" than the transposed European texts since it is anchored in the Constitution
- the provisions of the law imposing the declaration of suspicion on an employee of the Attorney or on a Compliance Officer concerning information covered by the professional secrecy of the Attorney, the basis of Democracy, must therefore be canceled.
This reasoning is remarkable and very solid.
It is not unique to Belgium.
There was a time when the key was in the rule. Today is essentially in the effectiveness of the rule. What the English and Americans call: Enforcement.
When operators are very powerful and regulators have little information, when the rule is complex, when situations are always changing and diverse, most of the regulatory art focuses on enforcement.
It shows a little more the continuum between Ex ante and ex post, moreover the circularity between them.Not only sanction is necessary ex post to the regulatory body for the rules that it asked ex ante have an effectiveness, but conversely, if we want that breaches the rule that powerful operators are committed could be sanctioned, it is through the Ex ante they must be punished.
Thus, when a financial operator wants to raise funds in the US financial market, he must request authorization from the Regulator to do so or at least to declare beforehand. It is therefore an Ex Ante mechanism. But if the operator is trustworthy, then it can be a kind of privilege that allows him to raise funds without submitting to the heavy and lengthy procedure. It takes but just whether trusted opérator.
However, Reuters reported the next development by the SEC guidelines for applying its power to withdraw the exemption to operators which had broken the law, civil or criminal.
While this may be explained by the fact that these operators have shown they don't deserve the confidence that justified access to the status of "well-known seasoned issuer" (WKSI) offering this "privilege" exempting regulation.
This is especially a new crackdown. The withdrawal of that relief proceedings valuable to the operator who regularly raises funds on the market, making him reach the common lot of borrowers, making carrying a disadvantage compared to operators who respect the law and shall remain holders of "bureaucratic privilege".
In a regulation in which repression becomes the central arrow in the quiver, here is an acute .
It begs the question: claiming that it is within the Ex Ante, can the regulator be dispensed to apply the rights of the defense?
It regulates not only financial markets and also insurance companies.
It presents its mission in its website :
"FINMA's mandate is to protect creditors, investors and policy holders and ensure the smooth functioning of the financial markets. Through consistent supervision and predictable regulation, we make an important contribution to safeguarding the stability and good reputation of the Swiss financial centre, and consequently to enhancing its competitiveness."
Some says that defining Compliance is a theoretical and non useful exercice that should be left aside to tackle the study of concrete technical cases. However, to be able to use Compliance tools, it is first necessary to have a clear, firm and simple idea of what is Compliance. Moreover, the future of this new branch of law intensely depends on the definition we choose to use.
Compliance Law gives to some crucial private firms new responsibilities such as the one to fight against global dangers or the one of saving the planet. In this, Compliance Law can be perceived as a kind of new deal between the private sector and public authorities, with the only difference that this time the consent of the private sector is not required.
Some would say that the concretization of such projects is the duty of the State and that private firms, if they must respect the rules, do not have to find a way to concretize a "monumental goal". However, the world face new and systemic dangers in the face of which the State alone is powerless, technically or geographically, and against which crucial companies can act.
It is not about, as some advocate to put human being aside of Compliance Law by letting machines decide. It is about placing the human being and its protection at the heart of Compliance Law. In this, Compliance Law can become a new humanism.
The Biennial Conference of the European Consortium on Political Research Standing Group on Regulatory Governance is the leading interdisciplinary conference on regulation and regulatory governance held in Europe. For the third time, it attracted many papers from all over the globe and from disciplines including political science, law, accounting, business, sociology, economics, international relations, anthropology, public administration and other cognate disciplines.
FRENCH
Rapport bibliographique (Symposium): la troisième conférence biennale du Comité permanent sur la régulation du Consortium européen de la recherche en sciences sociales, University College de Dublin, 17-19 juin 2010.
La conférence biennale de l'European Consortium on Political Research's (ECPR) Standing Group on Regulation (le Comité Permanent sur la Régulation du Consortium européen de la recherche en sciences politiques) est la conférence interdisciplinaire la plus importante en Europe en matière de régulation. Pour une troisième fois, cette conférence a attiré beaucoup de contributions du monde entier, et issues de disciplines variées comme les sciences politiques, le droit, la comptabilité, la gestion, la sociologie, l’économie, les relations internationales, l’anthropologie, l’administration publique, et d’autres disciplines annexes.
GERMAN
Bibliographischer Bericht (Symposium): die dritte Zweijährige Konferenz der Beständige Gruppe über Regulierung der europäischen Konsortium um Forschung in der Politikwissenschaft, University College von Dublin, 17-19. Juni 2010.
die dritte Zweijährige Konferenz der European Consortium on Political Research's (ECPR) Standing Group on Regulation (die Beständige Gruppe über Regulierung der europäischen Konsortium um Forschung in der Politikwissenschaft) ist die wichtigste interdiziplinäre Konferenz Europas im Bereich Regulierung. Zum dritten Mal hat sie Beiträge aus dem ganzen Welt angezogen, die aus verschiedenen Fächer entstanden: Politikwissenschaft, Jura, Rechnungslegung, Betriebswirtschaft, Soziologie, Wirtschaft, Internationale Beziehungen, Anthropologie, Öffentliche Verwaltung, und andere Fächer.
ITALIAN
Relazione bibliografica (Convegno): Terzo convegno biennale del Gruppo permanente sulla regolazione dell’European Consortium of Political Research (ECPR). Università di Dublino, 17-19 giugno 2010.
La conferenza biennale del Gruppo permanente sulla regolazione dell’European Consortium of Political Research è uno dei più importanti convegni europei interdisciplinari sulla regolazione economica e sulla governance in materia di regolazione. Per la terza volta, raccoglie degli studi, scritti da autori di tutto il mondo, in diverse discipline tra cui scienze politiche, diritto, contabilità, business, sociologia, economia, relazioni internazionali, antropologia, diritto amministrativo e altre discipline cognitive.
SPANISH
Informe bibliográfico (Simposio): La tercera conferencia bienal del el Comité Permanente sobre la Regulación del Consorcio europeo de investigación en ciencias políticas. Universidad de Dublín, 17-19 de junio del 2010.
La conferencia bienal del Standing Group of Regulation (el Comité Permanente sobre la Regulación del Consorcio europeo de investigación en ciencias políticas) del European Consortium of Political Research (ECPR) es la conferencia interdisciplinaria más importante en Europa en materia de la regulación. Por una tercera vez, esta conferencia atrae muchas contribuciones del mundo entero y de disciplinas variadas incluyendo la ciencia política, el derecho, la contabilidad, los negocios, la sociología, la economía, las relaciones internacionales, la antropología, la administración pública y otras disciplinas cognadas.
两年一度的European Consortium on Political Research's (ECPR) Standing Group on Regulation（欧洲政治研究学会常务管理委员会）会议是欧洲监管领域中最重要的跨学科会议。此次第三次会议吸引了来自世界范围内多个学科的协助，其中包括法学，会计学，管理学，社会学，经济学，国际关系学，人类学，公共行政学以及其他从属学科。
PORTUGUESE
Informe bibliográfico (Simpósio): A terceira conferência bienal do Comitê permanente sobre a regulação do Consórcio Europeu de Pesquisas Políticas, University College de Dublin, 17-19 de junho de 2010.
A conferência bienal do European Consortium on Political Research's (ECPR) Standing Group on Regulation (Comitê permanente sobre a regulação do Consórcio Europeu de Pesquisas Políticas) é a conferência interdisciplinar mais importante na Europa em matéria de regulação. Pela terceira vez, esta conferência reuniu diversas contribuições vindas do mundo inteiro e ligadas a disciplinas variadas como ciências políticas, direito, contabilidade, gestão, sociologia, economia, relações internacionais, antropologia, administração pública e outras disciplinas conexas.
Available in several languages, the document is titled: Dynamic telecoms market requires modern legal bases.
End of the document, the Confederation reports that it raises that State presence in the capital of Swisscom is legitimate (information that hasn't perhaps belong in a consultation document).
The consultation document intends to proceed with a progressive review". A first step of review will take place late 2015.
First, it will focus on international roaming, for which Swiss prices are too high but for which the ceiling price technique is rejected, the protection of youth or the need for market participants to register including Internet players.
In addition, the consultation focuses on increasing access to networks, including passive infrastructure, to increase competition. It is envisaged to grant the Federal Communications Commission (ComCom) ex officio powers.
Other issues will be discussed after 2015, for example universal service and neutrality in order to "not to break the dynamics of investment."
Operators have already protested about the narrowness of the consultation, in particular because the issue of optical fiber is not asked!footnote-5.
Prudential rules on the own funds of banks adopted by the Basle Committee are biding as soon as they will be transposed in a binding legal text.
The new rules of Basel III must take the force of a European directive. This gives rise to a new discussion, nor between the central bank governors (as in Basel), but between Finance Ministers of the European Union member states, in Brussels. On this occasion, each State defends the interest of its banks; the rule advocated by him corresponds to its banking structure or its type of banking business. In any case, the banks, anticipating the application of Basle III, have already integrated the prudential requirements in their accounts, hoping that their State will preserve it.
