This Recommendation is an international instrument to address regulatory policy, management and governance as a whole-of-government activity that can and should be addressed by sectoral ministries, regulatory and competition agencies.
A copy of the Recommendation can be obtained here.
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.
After the close of financial markets , the Charmain of JP Morgan, Jamie Dimon, announced on 10 may 2012, the loss of 2 billion dollars on hedging activities. The announcement was carried out by a conference call, the Chairman saying the past that this is the result of errors of assessment and in the future that losses may increase. Commentators have pointed out that it made less legitimate criticism that this Chairman has always made on the regulation of banking of the Dodd-Frank Act and the ban of trading for own account, the press considered moreover that the manager has more shown by such a result the need of constraint to exercise in the future on banks. But should we have to confuse ad hoc case and the general rule to adopt? Is relevance of a critic and special case in which is described that is one was critical can be remain relevant?
Provisions of the financial reform bill (Dodd Bill) currently being examined by the United States Congress would empower the Commodities Futures Trading Commission (CFTC) to implement limits on speculation on energy futures and derivatives, as well as to impose a much stricter declaratory and supervision regime for over-the-counter trades in futures and derivatives in general.
A Chinese company issued shares on American exchanges, and was subsequently the subject of a Securities and Exchange Commission (SEC) investigation. The company’s auditor concomitantly revealed frauds it had discovered during its review of the company’s accounts. The SEC sued the auditor on May 27, 2011 in order to force it to communicate the documents it held. The auditor refused, arguing that Chinese criminal law prohibited the revelation of such documents. The SEC filed a motion in Federal Court to compel the auditor to comply with its request on September 6, 2011.
FRENCH
Une société chinoise lève des fonds aux Etats-Unis, puis fait l’objet d’une enquête de la part du régulateur financier nord-américain. Parallèlement, l’auditeur de la société dénonce des fraudes qu’il a découvertes par l’examen des comptes. La SEC assigne l’auditeur le 27 mai 2011 pour obtenir communication des documents qu’il détient. L’auditeur refuse, arguant de l’interdiction par le droit pénal chinois qui prohibe. La SEC saisit le 6 septembre 2011 le juge fédéral pour que celui-ci contraigne l’auditeur.
SPANISH
Informe Temático (Finanza): el regulador financiero americano presentó una moción para obligar ante una Corte Federal a un auditor para que revele documentes concerniendo una compañía china que había auditado, aunque la revelación de dicho documente es prohibido por la ley china.
Una compañía china emitió acciones sobre intercambios americanos, y fue subsecuentemente el sujeto de una investigación del Security and Exchange Commission (SEC). El auditor reveló fraude que había descubierto durante su revisión de las cuentas de la compañía. El SEC demandó al auditor el 27 de mayo del 2011 para forzarlo a comunicar documentos en su posesión. El auditor se rehusó, argumentando que el derecho criminal chino prohibía la revelación de dichos documentos. El SEC presentó el 6 de septiembre del 2011 una moción en la Corte Federal para obligar al auditor a obedecer estas órdenes.
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。
Procedure is that by which a body of law finds its unity: the right to an impartial tribunal, as stated in Article 6 of the European Convention on Human Rights, created a new unit in Regulation Law, as it also requires from Regulatory Authorities to "show" their impartiality whenever they act as courts.
Nevertheless, little by little, the national courts and the ECHR itself indicated the contours of this right, which cannot, admittedly, end up nullifying the effectiveness of the mission of Regulators.
It is assumed that whenever a Regulatory Authority intervenes whether in "civil matters", i.e., when it affects the civil rights or the property rights of a person, or in "criminal matters", i.e., when it sanctions a significantly serious behavior, the individuals that are exposed to the power of the Regulator are protected against it by the right to impartiality. Since the regulator has the power to judge, it also has to respond to the condition of impartiality.
As such, not only those within the Regulatory Authority involved should not be in conflict of interest or have already experienced the event (personal, subjective and/or objective impartiality), but the Authority in its organization and processes itself shall give to see its impartiality to the person who is threatened by its power- and, beyond, to the entire society. This objective structural impartiality is called after English law "apparent impartiality."
The European Commission conducted a competition inquiry on the competitiveness of European energy markets, because it believed that these markets functioned poorly, especially because they are insufficiently open to competition and their prices are too high. Proceedings were begun in December 2009 against E.ON, and were closed by this corporation’s May 4, 2010 legally-binding commitments to the European Commission to improve its competitors’ access to its natural gas transportation network. Access to transportation networks, which are essential facilities, is the heart of any regulatory system, and if access was not organized beforehand (ex ante), it can be arranged afterwards (ex post), as is the case in this affair, via an alliance between Competition Law and Contract Law, wherein the commitments take on the form of a sort of co-regulation (cf. infra brief summary)
FRENCH
Par une décision du 4 mai 2010, la Commission Européenne a accepté le les engagements proposés par la société énergétique allemande E.ON d’ouvrir davantage à ses concurrents l’accès à son réseau de transport de gaz.
La commission européenne a mené en 2007 une enquête sectorielle sur le fonctionnement concurrentiel des marchés énergétiques européens en estimant que ceux-ci fonctionnent mal, notamment puisqu’ils sont peu ouverts et leurs prix trop élevés. Une procédure ouverte en décembre 2009 contre E.ON est ici close par l’engagement de celle-ci envers la commission européenne d’ouvrir à ses concurrents son réseau de transport de gaz. L’accès au réseau de transport, facilité essentielle, est le cœur du système de régulation et s’il ne se fait pas {ex ante} il peut se faire alors {ex post}, comme on le voit dans cette affaire, par une alliance entre le droit de la concurrence et le droit du contrat, l’engagement devenant une sorte de corégulation (voir infra dans le bref commentaire).
GERMAN
Die Europäische Kommission hat am 4. Mai 2010 ein Beschluss veröffentlicht, in dem sie die Zusage des deutschen Energiekonzerns E.ON, der Konkurrenz effektiven Zugang zu seinen Gasleitungen zu öffnen, für verbindlich erklärt.
Die Europäische Kommission hat eine kartellrechtliche Untersuchung im Energiesektor durchgeführt, da sie die europäischen Energiemärkte für ineffizient hielt, vor allem aufgrund mangelnden Wettbewerbs und zu hohen Preisen.Mit dem Beschluss vom 4. Mai 2010 werden die von E.ON angebotenen Verpflichtungen, den Zugang zu den Gasnetzwerken für potentielle Konkurrenten zu öffnen, für rechtlich bindend erklärt. Zugang zu Transportnetzen, die als wesentliche Einrichtungen ({Essential Facilities}) zählen, ist zentral für jedes Regulatierungssystem. Wenn dieser Zugang nicht im Voraus ({ex ante}) organisiert ist, kann er trotzdem im Nachhinein ({ex post}) etabliert werden, wie es hier den Fall ist, durch ein Bündnis zwischen Wettbewerbsrecht und Vertragsrecht, indem das Unternehmen durch seine Verpflichtungen quasi mitregulierend wirkt (siehe unten {Brief Summary})
SPANISH
En una decisión del 4 de mayo 2010, la Comisión Europea acepta los compromisos de la corporación alemana de energía, E.ON, para mejorar el acceso de competidores a la red de transporte del gas natural.
La Comisión Europea llevó a cabo una encuesta sectorial sobre la concurrencia en los mercados europeos de energía, ya que sea cree que estos mercados no funcionan de manera eficaz, especialmente porque no son los suficientemente abiertos a la competencia y sus precios son demasiado altos. Los trámites comenzaron en diciembre del 2009 contra la E.ON y fueron cerrados por ésta ante sus compromisos vinculantes ante la Unión Europea del 4 de mayo 2010 de mejorar el acceso de competidores a la red de transporte de gas natural. El acceso a las redes de transporte, que son facilidades esenciales, se encuentra al centro de cualquier sistema regulatorio, y si el acceso no fue organizado anteriormente (ex ante), puede ser organizado posteriormente (ex post), como en este caso a través de un alianza entre la Ley de la Concurrencia y la Ley de Contrato, donde los compromisos actúan de manera ‘co-regulatoria’ (VER. Infra para resumen breve).
In Morocco, after months of adjustments to bring together stakeholders, a draft law has been prepared and introduced in the Council of Ministers the end of May 2012. The Département des assurances du ministère (Insurance Department) will then give way to an independent regulator, the Autorité de Contrôle des Assurances et de la Prévoyance Sociale - ACAPS (Supervisory Authority of Insurance and Social Welfare). Independent of the Executive, the regulator is financed by a tax on insurers and the administrative fines which it imposes. It is composed of two bodies. The first determines the general policy of the Authority, fixes the financial contribution due from insurers, approves staff plan, grants licences to insurers. The second, sets up by the President, draws up the annual budget, and adopts the agenda of the meetings and the decisions of sanctions. The Board of discipline certainly presided by a magistrate of the Cour de cassation (Civil Supreme Court), only provides an advisory opinion to the President of the Authority on proposed sanctions.
The French regulator of telecommunications (The French regulatory authority of telecommunications and Posts - ARCEP) has developed a draft report to the Parliament and the French Government on the issue of Internet neutrality. By providing it to everyone on its site on May 16, 2012, the regulator opens a public consultation, which will be closed on June 22, 2012. The regulator said that the Internet is a "collective good of general interest" and that the increase in its use requires very significant investments. It is in this context that the question of the neutrality of the Internet must be discussed.
