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.
FRENCH
Rapport Sectoriel (Energie / Finance) : Le "CME Group" (principal opérateur de bourse de commerce aux Etats-Unis) conteste la proposition de "Commodity Futures Trading Commission — CFTC" (autorité de tutelle américaine des bourses de commerce) qui vise à réguler la spéculation sur les options et dérivés de l'énergie
La “Commodity Futures Trading Commission — CFTC” (l’autorité de tutelle américaine des bourses de commerce) publie le 26 janvier 2010 un projet visant à réguler la spéculation sur le marché de gré-à-gré énergétique. Cette proposition est vivement contestée par le CME Group (la principale bourse de commerce américaine), qui conteste que la CFTC n’est pas fondée légalement à réguler les échanges de gré-à-gré sur le marché de l’énergie, et qu’une telle compétence ne peut être accordée que par une loi spécifique.
SPANISH
El Grupo CME (operador principal de la bolsa de comercio americano) desafía la propuesta de la “Commodity Futures Trading Commission – CTFC” (la autoridad de tutela americana de la bolsa de valores) del 26 de enero del 2010 de regular la especulación sobre energías futuras, contratos de opciones y derivados.
La “Commodity Futures Trading Commission” - CFTC (la autoridad de tutela americana de la bolsa de valores) publicó el día 26 de enero del 2010 una propuesta para regular la especulación sobre el mercado extrabursátil de energía a través de contratos a futuro y a opciones. Esta propuesta está siendo fuertemente refutada por el Grupo CME (el operador principal de la bolsa de valores americano) quien declara que la CFTC no tiene la competencia legal para regular las operaciones extrabursátiles de energía, ya que tal acción tendría que ser autorizada por una ley específica.
GERMAN
Sektorialer Bericht (Energie / Finanz): Der CME Group (die Hauptwarenbörse Amerikas) hat sich gegen den Vorschlag der Commodity Futures Trading Commission (CFTC - die amerikanische Aufsichtsbehörde für Warenbörse) geäußert, die Spekulation auf außerbörslichen Energiemärkten zu regeln.
Die Commodity Futures Trading Commission (CFTC, die amerikanische Aufsichtsbehörde für Warenbörse) hat am 26. Januar 2010 eine Entwurfsarbeit veröffentlicht, in der sie ihre Absicht erklärt, die Spekulation auf außerbörslichen Energiemärkten zu regeln. Dieser Entwurf wurde vom CME Group stark kritisiert. Der CME Group, die Hauptwarenbörse in den VS, behauptet, dass die CFTC keinen rechtlichen Auftrag hat, solch eine Reglung einzuführen. Erst ein spezifistiches Gesetz würde es ermöglichen können, laut der CME Group.
The Autorité de régulation des communications électroniques et des postes (ARCEP — French Telecommunications and Postal Regulatory Authority) published decision 2010-1149 on November 2, 2010, by which it details its plans for regulating the wholesale market for mobile voice termination rates over the period 2011-2013.
FRENCH
Fiche thématique (télécommunications) : L'ARCEP publie une décision relative à la tarification sur le marché de gros de terminaisons d'appel mobile
L'Autorité de régulation des communications électroniques et des postes (ARCEP) a publié le 2 novembre 2010 sa décision n°2010-1149 dans laquelle elle explicite son projet de régulation du marché de gros des terminaisons d'appel mobile pour la période 2011-2013.
GERMAN
Thematischer Bericht (Telekom): die ARCEP, die französische Post- und Telekommunkationsaufsichtsbehörde, veröffentlicht eine Anordnung über Mobilfunkterminierungsentgelte.
Die Autorité de régulation des communications électroniques et des postes (ARCEP, die französische Post- und Telekommunikationsaufsichtsbehörde), hat am 2. November 2010 eine Anordnung n°2010-1149 veröffentlicht, in der sie erklärkt ihre Entscheidung, zwischen 2011 und 2013 die Mobilfunkterminierungsentgelte zu regulieren.
SPANISH
Informe Temático (Telecomunicaciones): El regulador francés de telecomunicaciones publica una decisión relacionada con el mercado de mayoreo y sus tarifas de terminación de llamadas vocales en redes móviles.
La Autorité de régulation des Communications électroniques et des postes (ARCEP – la Autoridad francesa de regulación postal y de telecomunicaciones publicó su decisión 2010-1149 el 2 de noviembre del 2010, en el que detalla sus planes para regular el las tarifas de terminación de llamadas vocales en redes móviles del mercado de mayoreo durante el periodo 2011-2013.
ITALIAN
Relazione tematica (Scommesse): Il regolatore francese in materia di telecomunicazioni ha reso una decisione riguardante il mercato all’ingrosso delle spese per l’uso della rete di telefonia mobile
Il 2 novembre 2010, l’Autorité de régulation des communications électroniques et des postes (ARCEP – l’autorità francese di regolazione in materia telecomunicazioni e poste) ha pubblicato una decisione 2010-1149 nella quale dettaglia i suoi progetti per regolare il mercato delle spese per l’uso della rete di telefonia mobile nel futuro periodo tra il 2011 ed il 2013.
Autorité de régulation des communications électroniques et des postes (ARCEP-法国邮政电信管理局) 于2010年11月2日公布了n°2010-1149决定，旨在于详细说明在2011-2013年度内对于大型移动语音终端市场的监管方案。
The Autorité de la Concurrence (French Competition Authority) issued a recommendation (n° 11-A-05) on March 8, 2011 in which it recommends that the Autorité de régulation des communications électroniques et des postes (ARCEP — French Telecommunications and Postal Regulatory Authority) proceed with studies envisaging the possible breakup of France Telecom into two separate functional entities, one managing monopoly activities (the network), and the other managing competitive activities (services).
SPANISH
Informe temático (Telecomunicaciones): La Autoridad francesa de la competencia recomienda que el Regulador francés de telecomunicaciones considere una separación funcional de las actividades de France Telecom.
La Autorité de la Concurrence (la Autoridad francesa de la competencia) publicó una recomendación (n°11-A-05) el 8 de marzo del 2011 en la que recomienda que la Autorité de régulation des communications électroniques et des postes (ARCEP – la Autoridad regulatoria francesa de telecomunicaciones y servicios postales) proceda con sus estudios concibiendo la posible división del France Telecom en dos entidades funcionales separadas, uno que manejaría las actividades monopolísticos (la red), y el otro manejando las actividades competitivas (los servicios).
On April 27, 2010, the European Parliament’s Committee for Health voted to introduce an amendment to the European Commission’s ‘Pharmacovigilance and Prescription Medicine Package’, which would introduce a strict regime for online prescription medicine sellers.
Presentation of the colloquium Thematic: To understand the notion of "Monumental Goals", it is firstly necessary to take crossed perspectives on them, particularly through the prism of Labor Law, Environmental Law and Enterprise Law. Many questions appear. Does the notion of “Monumental Goals” present any substance in Law? Is it uniformly understood, or do specificities appear, forged by specific cultures and disciplinary practices? What are the sources and implicit references or echoes? Because even if we admit the part of novelty, there is undoubtedly an anchoring in traditional legal concepts, like the general interest or sovereignty. How does the shift from meta-legal (prima facie introduced by the concept) to legal take place, and where do any operational difficulties lie when legal actors are called upon to act? The question of a possible categorization of "Monumental Goals" will thus be explored, through these three legal disciplines whose historicity, goals and implications for firms differ.
These reflections allow to ask why and how these "Monumental Goals" are developed. Indeed, what is the relevance of the association of "Monumental Goals" and Compliance? Beyond theoretical considerations relating to the meaning of Law, is this really an effective alloy encouraging companies to behave differently? By what ways? These questions arise in particular with regard to the imperatives of legal certainty and the operative nature of the concept. The question of "Monumental Goals" will thus be explored by the operational actors of compliance, both those who act within companies and those who act from the lato sensu State sphere, for understanding whether this notion is a pure rhetoric figure or constitutes a particularly promising lever for the evolution of market behavior.
Notably with :
Christophe André, maître de conférences à l'Université Paris - Saclay (lecturer at the Paris-Saclay University)
Guillaume Beaussonie, professeur à l'Université Toulouse-1-Capitole (law professor at Toulouse-1-Capitole University)
Regis Bismuth, professeur de droit à Sciences po, Paris (law professor at Sciences po Paris)
Marie-Emma Boursier, doyen de l'Université Paris - Saclay (dean of the Paris-Saclay University)
Muriel Chagny, professeur l'Université Paris - Saclay, directrice du Laboratoire Dante (Professor at the Paris-Saclay University, director of the Laboratory Dante)
Prof. Pan conducts research on financial regulation, capital markets, corporate governance and international law. Among his many professional activities, he directs the Chatham House City Series and frequently speaks about international financial and corporate law issues across North America, Europe and Asia. Prof. Pan is a member of The American Law Institute.
Before joining Cardozo, Prof. Pan was an attorney for several years with Covington & Burling in Washington, DC, where he practiced corporate, securities and international law. He also was a Jean Monnet Lecturer in Law at Warwick University, England, and a visiting fellow in international law at Cambridge University, England.
He is currently serving as an Academic Fellow in the Office of International Affairs at the U.S. Securities and Exchange Commission in Washington, DC.
From 2006 to 2009, she was director of the Centre d’études en droit économique (Economic Law Research Centre). Professor Crête’s works and teaching revolve around corporate law, financial markets regulation and corporate governance. She is currently in charge of a research study on assets, wealth and estate management’s legal framework. Ever since the creation of the Collège des administrateurs des sociétés (College of corporate administrators) Raymonde Crête participates in the institution’s training of corporate directors on governance issues.
Summary of the news: Through its decision of 22nd of October 2020, the Autorité de la concurrence (French Competition Authority) accepted the commitments proposed by retail sector's firms Casino, Auchan, Metro and Schiever so that their agreement by which a common body centralizes purchases from numerous retailers, allowing each to offer these products under private label, is admissible with regard to competitive requirements.
In this particular case, the Authority had self-sized in July 2018, estimating that such a purchase center could harm competition, opening immediately a large consultation on the terms of the contract. In October 2018, the law Egalim permitted to the Authority to take temporary measures to suspend such a contract, what the Authority did from September.
The convention parties' firms committed on the one hand to update their contract limiting the power on suppliers, especially small and very small suppliers, excluding totally of the field of the contract some kind of products, especially food products and reducing the share of bought products volume dedicated to their transformation in distributor brand.
The Autorité de la concurrence accepts this proposal of commitments, congratulates itself of the protection of small suppliers operating like that and observe the similarity with the contract consisting in a purchase center between Carrefour and Tesco, which will be examined soon.
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We can draw three lessons of this innovating decision, which could be a model for after:
1. The technique of Compliance Law permits to the Autorité de la concurrence to find a reasonable solution for the future.
Indeed, rather than punishing much later by a simple fine or to annihilate the performing mechanism of the purchase center, the Authority obtains contract modifications.
The contract is structured and the obtained modifications are also structural.
The commitments are an Ex Ante technique, imposed to operators, for the future, in an equilibrium between competition, operators and consumers protection and the efficacy of the coordination between powerful operators.
The nomination of a monitor permits to build the future of the sector, thanks to the Ex Ante nature of Compliance Law.
2. The retail sector finally regulated by Compliance technics.
"Distribution law" always struggle to find its place, between Competition law and Contract Law, especially because we cannot consider it as a common "sector".
The Conseil constitutionnel (French constitutional court) refused a structural injunction power to the authority because it was contrary to business freedom and without any doubt ethics of business is not sufficient to the equilibrium of the sector.
Through commitments given against a stop of pursuits relying on structuring contracts, it is by Compliance law that a Regulation law free of the condition of existence of a sector could leave.
3. The political nature of Compliance law in the retail sector
As for digital space, which is not a sector, Compliance law can directly impose to actors imperatives that are strangers to them.
In the digital space, the care for fighting against Hate and for protecting private life; here the care for small and very small suppliers.
forthcoming in the Serie Regulations & Compliance , co published by the Journal of Regulation & Compliance (JoRC) and Dalloz.
