News & Analysis as of

Sapin II

Implementing strong corporate compliance programs – necessity rather than nicety?

No matter the industry, maintaining effective corporate compliance programs has never been a more essential part of operations to address the legal risks that corporates face. This article, the third in a series about...more

France Takes Next Step in Anticorruption Enforcement: First "French DPAs" and What Companies Should Know

by Jones Day on

The Situation: Anticorruption legislation passed by French lawmakers in 2016 authorizes the resolution of a corruption matter by means of a "convention judiciaire d'intérêt public" ("CJIP"), the French version of a deferred...more

Anti-Corruption Enforcement: Analyzing the Enforcement Approaches of the US, the UK and France

Anti-Corruption enforcement is a top priority in France, the UK, and the US. Each of these countries has armed its enforcers with the enforcement tools necessary to investigate and prosecute corporations and individuals. Join...more

French Anti-Corruption Agency Publishes Information Expected from Companies During Agency Inspections

by Jones Day on

The Situation: The French Anti-Corruption Agency has published the questions and documentation that companies will be expected to answer and provide when inspected by the Agency. The Result: The French Anti-Corruption...more

French prosecutors reach first ever DPAs settling bribery charges

by White & Case LLP on

In February 2018, the first Conventions Judiciaire d'Intérêt Public ("CJIPs") – or French Deferred Prosecution Agreements ("DPAs") – were entered into for corruption charges between the Public Prosecutor's Office of Nanterre...more

Sapin II and French Anti-Corruption Enforcement

by Michael Volkov on

As more countries enter into the anti-corruption enforcement world, companies face exponential risks of detection and enforcement. Recently, Deputy Attorney General Rosenstein has commented on the need to avoid unfair...more

Europe Insights

Despite a year of continued global political uncertainty and increasing enforcement, shareholder activism and foreign investment control activity, the 2018 outlook for Europe is positive overall. Skadden partners in the U.K.,...more

The Sapin II Act: New Perspectives on Cross-Border Investigations

On November 30, 2017, the Institut des Hautes Etudes sur la Justice (IHEJ) and Skadden hosted a roundtable at the Cercle de l’Union Interalliée in Paris to discuss new perspectives on the Sapin II Act and cross-border...more

France Announces Its First Deferred Prosecution Agreement

In a move that could signal a new phase of government enforcement in France, on November 27, 2017, French authorities published a Convention judiciaire d’intérêt public (CJIP) with HSBC Private Bank Suisse SA (HSBC PB), the...more

Sapin II Law: The New French Anticorruption System| La Loi Sapin II: Le nouveau dispositif français anti-corruption

by Morgan Lewis on

The new system strengthens the French anticorruption arsenal from this year, drawing upon the US and UK regimes....more

Blockchain Distributed Ledger Technology Approved for Nonlisted French Securities

by Jones Day on

The Situation: French authorities intend to amend securities laws to permit the use of blockchain technology. In March 2017, the French Treasury launched public consultation relating to the use of such technology and its...more

Alternatives to prosecution in an age of global enforcement - Global alternatives to prosecution when a corporate is facing a...

by White & Case LLP on

Businesses are increasingly becoming global, and so are enforcement actions in response to alleged corporate wrongdoing around the world. The harsh reality is that wherever there is potential corporate criminal wrongdoing,...more

France Establishes Register of Beneficial Owners of Corporations and Other Entities

by Jones Day on

In an effort to prevent money laundering and fight the financing of terrorist activities, France has adopted requirements for the identification and registration of beneficial owners of corporations and other entities...more

Government Enforcement Investigations – What You Need to Know in 2018

On October 4, 2017, Skadden presented the seminar “Government Enforcement Investigations – What You Need to Know in 2018.” Skadden partners Ryan Junck and Elizabeth Robertson, both based in London, moderated the panel...more

New obligation to declare beneficial owner(s)

by White & Case LLP on

The Ordinance of 1 December 2016 (which implemented the European Anti-Money Laundering Directive of 20 May 2015) and the so-called "Sapin II Law" of 9 December 2016 introduced new obligations for companies. Companies must now...more

What progress has been made by France as regards the fight against corruption?

by Bryan Cave Leighton Paisner on

The Group of States against Corruption of the Council of Europe (GRECO) released a report on 28 September 2017 of its assessment of the measures adopted by France to fight against corruption following the recommendations it...more

We Can Ignore This French Sapin II Law, Right?

Wrong. The law Sapin II (Law 2016-1691 of 27 December 2016) has been in force for several months, but the consultation draft of the guidelines is not expected to be issued by the Agence Française Anti-corruption (AFA) (French...more

Oh, Hadn’t You Heard? You’re Violating French Law Right Now! France Gets Serieuse about Anti-Corruption

Ok, ok, don’t panic. Maybe not all of the millions of dedicated readers of this blog are in violation. Nevertheless, as of June 1, if your company does business in France, it may be time to check your anticorruption...more

Duty to set up procedures enabling whistleblowing in France by 1st January 2018: Criminal / Labor consequences

by White & Case LLP on

On 11 December 2016, the law targeting transparency, anti-corruption and the modernization of the economy, also known as "Sapin II", entered into force, creating a new legal framework for defining and protecting...more

The EC New Alert Mechanism to Detect Cartels: A Teaser Before a European General Framework for Whistleblowing

Whistleblowing has been part of the U.S. legal tradition, if not since the resolution passed by the Continental Congress in 1778, at least since the adoption of the 1863 False Claims Act. With regard to the disclosure of...more

Implementation Decree for the Say-on-Pay Provisions of the Loi Sapin II Adopted

by Jones Day on

Adopted on 8 November 2016, the Sapin II Act (Loi Sapin II) introduced a compulsory ex ante vote on remuneration policy and an ex post vote on the amount of remuneration received in accordance with the policy passed the...more

Decrypting the New Whistleblower Law in France

by Littler on

On December 9, 2016, France enacted a statute broadly granting whistleblower protections to employees. This new law represents the next step in the evolution of such protections in France. The focus on this area of law...more

New French Transparency and Anti-Corruption Law: Creation of a Whistleblower's Common Status

by White & Case LLP on

On December 10, 2016, the law n° 2016-1691, also known as "Sapin II", relating to transparency and anti-corruption measures (the "Law") was published in the French Journal Officiel. Notably, the Law creates a new legal...more

Bond Issues

by White & Case LLP on

France’s draft Ordinance and Decree of 30 January 2017 for improving the development of French law-governed bond issues The capital markets’ share of corporate financing, and of the economy in general, is growing year on...more

EuroResource—Deals & Debt - March 2017

by Jones Day on

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments...more

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