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The Italian upper administrative court (“Consiglio di Stato”) ruled that the Autorità per le garanzie nelle comunicazioni (“AgCom” – the Italian Regulatory Authority for electronic communications) is not bound to provide a rigorous justification when issuing decisions not compliant with European Commission’s comments. This judgment is of general interest since, on the basis of a formalistic reasoning, it does not pay adequate attention to the role played by the European Commission in electronic communications’ regulatory proceedings at national level. Under the European regulatory framework (and the multilevel governance system established therein), comments from the European Commission are the main pillar of the horizontal coordination system between the European level and the national level, aimed at creating a competitive common market for electronic communications.

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PeruRail, the operator of Peru’s famous railway line, providing service between Cuzco and Machu Picchu, was sanctioned USD$800,000 on May 10, 2010 by the {‘Instituto Nacional de Defensa de la Competencia y de la Protección de la Propiedad Intelectual’} (INDECOPI- Peru’s national institute for the defense of competition and protection of intellectual property) for having restricted competitors’ market entry. An appeal is underway.

One can only be amazed or even upset.

First, the agreement is not yet concluded. It would be in a month or two. How is it that we already know? Secondly, contracts, because the transaction is a contract listed by the Civil Code, are not intended to be public. How is it that we already know everything? The person who gave the information "was keen to remain anonymous." It would have suspected ......

Third, it is true that the regulation of rating agencies is a big issue. Special texts have been taken but academics think the right tools stay missing and that is probably the liability, general legal instrument, which is the most appropriate.

But the responsibility of commitment requires a trial, evidence, respect for the rights of defense, due processs,  legality of offenses and penalties.. Here, $ 1 billion is paid by the company only to avoid that opens a lawsuit against it. The allegation is the rating agency would have underestimated the subprime risk.

But on one hand everyone says that the rating agency has actually done the facts allegued since payroll so that the file doesn't open. On the other hand, and from the perspective of regulating the information that would be out of the trial, a trial being a form of crisis, will not come out.

So this sort of industry fof "Deals of Justice", apart from the fact that some describe the phenomenon as a "racket", isn't a "decriminalization" of regulation for a "civilized regulation" through the transaction contract. On the contrary, this movement that is spreading constitutes an increased repression whic diminishes rights of defense for the operator and information for the sector.

One can only be amazed or even upset.

 

Jean-Patrice de La Laurencie is a graduate of the Institut d’Etudes Politiques de Paris (Sciences Po Paris) and the Ecole Nationale d’Administration (ENA). He is currently a Lawyer at the Paris Bar (...)

René Sève is a graduate of the Ecole Normale Supérieure, holds an agrégation in philosophy, and a doctorate degree in Law. He also has advanced postgraduate degrees in Philosophy, Social Psychology, and Law. (...)

The implementation of a joint service on Insurance, Banking, and Insurance within the ‘Autorité de Contrôle prudential – ACP’ (French Prudential Control Authority), raises questions as to the way in which the service will be coordinated with the ‘Autorité des marchés financiers – AMF’ (French financial markets authority’s) other activities. The signature of the agreement creating the new joint service was the occasion for Jean-Pierre Jouyet, President of the AMF, to clarify that this joint service’s principal goal is consumer protection. The coordination between the AMF and the ACP is intended to improve efficiency and credibility to further this goal.

India is transforming its energy policy, because it depends too much of coal and plans to expand its nuclear industry. Its agency, the Atomic Energy Regulatory Board (AERB) is in charge of overseeing nuclear security. But the Indian Court of Auditors issued a report on 16 August 2012, claimed that such a nuclear deployment could not take place only if the agency is structurally modified. Indeed, it is currently dependent on the federal Government, while independence is required for any regulator. In addition, it has no real powers of control and intervention. It is therefore not a true regulator, and in these conditions, expand nuclear energy would constitute a great risk.

We hardly listen to to sermons. This is probably why Alain Supiot puts us on the table the text of Bossuet only occupying few pages, but since 1659 occupies the minds on "l'éminente dignité des pauves" (the eminent dignity of the poor). When Bossuet speaks of wealth and poverty, economists have interest in reading it. When Bossuet speaks of just order and "rightful place", lawyers must read it.

Alain Supiot comments it by writing to the following "Le renversement de l'ordre du monde" (The reversal of the order of the world).

Bossuet reminds that wealthy people think everything is owed to them while grace is given to the poor. Bossuet contends that rich people have interest to share with the poor, for thus it can alleviate the wealth that overwhelm them and they can enter the community (composed by the Church) in which poor people occupy the first place by natural order.

In his study, Alain Supiot looks back on the very definition of 'poverty', which accounts for the money the individual has. He takes up the theme of Bossuet to assert that, contrary to what the result of statistical methods (how much per person per day), the wealthy are "poor" since the market isolates them, spreading them of solidarity. Yet the natural order should lead them to share, by paying taxes, and other mechanisms through the welfare state. But he notes that the State departs increasingly this function, drawn in by this model only wealthy (the "rich-poor"), the only available model becoming what Alain Supiot calls "le marché total" (total market)!footnote-15.

We can no share this view of the world, for example if it is believed that the rich share (Social Responsibility Company theory), or if one believes that the state - sort of church - was often selfish, but already listen to the first advice: read Bossuet.

Reading the Union Address by President Barack Obama of the 21th of January 2015 themed fair sharing between rich and poor by public redistribution, we think back to Bossuet.

The Libor manipulations successively discovered, led the British Government to request to the Financial Services Authority (FSA) a report to reform the system. On August 10, 2012, a progress report is made public. It proposes not to end self-regulation, but to temper it. Firstly, the declaratory system, too subjective, must be tempered by objective data (real transactions and other reference rate). Secondly, the power of monitoring and sanction of public authorities must be increased. This growing power must be that of the courts... and the Financial Services Authority (FSA). Stakeholders have until September 7, 2012 to respond. The British Government has entrusted in late July 2012 the Financial Services Authority (FSA) a report on the reform that is appropriate to operate concerning the system of Libor. It must be submitted at the end of September. Subsequent events show the method followed.