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18 results for JD Supra France › Allen & Overy LLP

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  • French law paves the way for the digital assets services providers regulation

    The French Government has taken the initiative to create a cutting-edge legal framework in order to regulate the provision of digital assets services in France. Over the last few years, digital assets did not appear to fall within scope of French law or regulation as they could not be characterised as currency, electronic money, financial instruments nor – on a more fundamental level –

  • Emergency Economic and Social Measures in Response to “Yellow Vest” Protests

    The "yellow vests" protests prompted the French government to propose strong and symbolic measures to improve employee’s purchasing power. This resulted in the adoption, in just five days, of the law no. 2018-1213 dated 24 December 2018 pertaining to emergency economic and social measures as well as in the publication of the decree no. 2018-1197 dated 21 December 2018 pertaining to the...

  • French on-shore wind market in 2019: Towards repowering

    The French Government recently announced new objectives for on-shore wind development. The contemplated objectives are 24.6 GW by 2023 and 34.1 to 35.6 GW by 2028 (rising from about 14.5 GW currently). Repowering is widely seen as a key tool for reaching these objectives. The legal framework for repowering has been clarified in the course of 2018. However, there is still no unified...

  • French draft bill addresses key Brexit legal concerns

    On 3rd October 2018, the French Government published a draft bill providing the Government with the power to adopt legislation to mitigate the risks arising from the situation where the UK and the EU27 fail to ratify the Article 50 of the Treaty on European Union (the Hard Brexit Draft Bill). Please see full article below for more information.

  • French law clarifies eligibility conditions for senior non preferred ranking by defining "non-structured" instruments

    Published on 5 August 2018, Decree no. 2018-710 (the Decree) adds an important component to the bail-in tool under French law, by setting out the conditions in which a security (titre), receivable (créance), financial instrument (instrument) or right (droit) (each an Instrument) may be considered as non-structured for the purposes of article L. 613-30-3 I-4° of the French Code monétaire et...

  • A closer look: France - U.S. and French coordinated settlements with Société Générale

    Société Générale (the Bank) announced that it has entered into settlements with the U.S. Department of Justice (DOJ), the U.S. Commodity Futures Trading Commission (CFTC) and the French National Financial Prosecutor (Parquet National Financier, PNF), on 4 June 2018, in order to put an end to IBOR and Libya related investigations conducted by said authorities.

  • The new "right to disconnect" in France

    In response to the increasing use of digital tools which blurs the line between professional life and personal life, a new obligation relating to working time has been introduced in France by the law of August 8th, 2016 relating to Work, Modernisation of Social Dialogue and Securitization of Professional Processes (commonly referred to as the "Labour Law").

  • French on-shore wind farm market in 2017: New tariffs structure and other important updates

    Speed Read - The French on-shore wind market, one of the most active renewable markets in Europe, will be subject of a new legal framework which aims to allow for a more market driven electricity system in France. Whilst the French government has recently announced its ambitious objectives for on-shore wind energy, with the objective announced in October 2016 to reach 22,000-2

  • Creditors likely to find it more difficult to enforce against foreign state assets in France

    The ability to attach assets of foreign States in France is the subject of a new Bill. A proposed requirement for judicial authorisation for attaching such assets and more severe rules on specific assets are likely to make it more difficult to enforce judgments against foreign State assets in France. Banks will need to be aware of the proposed changes because, if they come into effect, they will...

  • Tackling Market Abuse And Corruption — Finally

    In the next few weeks, the French Minister of Finance should present to the Government a Bill which would, if adopted, reform the French regime on market abuse, create a new anti-corruption agency and impose an obligation on businesses to implement strong compliance programs. Inspired by the U.S. and UK legislation, this Bill could represent a transformational change in the French legal framework.

  • First Successful Prosecution For A Recommendation Based On Inside Information

    French Administrative Supreme Court, 10 July 2015, n°369454 - A recommendation to acquire or dispose of a financial instrument on the basis of inside information is market abuse, even if no inside information is transmitted to, and no action is taken by, the beneficiary of the recommendation. This is the first ruling on this issue by the French Administrative Supreme Court (C

  • Application Of The Double Jeopardy Prohibition To A Deferred Prosecution Agreement In The Oil For Food Case

    On 18 June 2015, the Paris criminal tribunal rendered its judgment in one of the two cases that have reached French courts in relation to allegation of bribery in the context of the Oil For Food (OFF) program. In an important legal development, the Paris tribunal applied for the first time the principle that the double jeopardy guarantee would prohibit a second prosecution for the same fact where

  • French National Assembly Adopting Surveillance Legislation

    On 5 May 2015, the French National Assembly adopted a Bill aiming at reinforcing state surveillance. Several internet players as well as politicians have already raised serious concerns regarding the adoption of this Bill.

  • New Amendment To The France-Luxembourg Tax Treaty: Capital Gains On Sale Of Real Estate Entities Will Be Taxable In The State Where The Real Estate Assets Are Located

    Based on the press release issued by the Luxembourg Ministry of Finance (MoF), the amendment allocates the right to tax capital gains realised upon the sale of stock, shares or other rights in companies, trusts or any other entities whose assets are predominantly composed of real estate assets to the State where these assets are located.

  • The end of the road for "one-way" jurisdiction and arbitration clauses?

    Following the 2008 financial crisis, there has been greater focus by commercial parties on dispute resolution provisions in transaction documents. At the drafting stage, where (and how) parties' disputes are to be determined has become a contentious issue on many deals.

  • Principaux changements en droit français des procédures collectives

    L’article 2 de la Loi n° 2014-1 du 2 janvier 2014 habilite le gouvernement français à simplifier et sécuriser le droit des procédures collectives. Suite à une consultation auprès des praticiens, le gouvernement français a pris une Ordonnance (l’Ordonnance) le 12 mars 2014, publiée au JO le vendredi 14 mars. L’Ordonnance entrera en vigueur le 1er juillet 2014 et s’appliquera...

  • Changes to French takeover rules

    A new French law, the “Law to recapture the real economy” (“Loi visant à reconquérir l’économie réelle” or “Loi Florange”) (the Law), was made on 1 April 2014. The Law makes good a promise, made by François Hollande in his 2012 presidential election campaign, to require companies employing more than 1,000 people in France or/and Europe and considering closing plants deemed...

  • Important changes to French Insolvency Legislation

    Article 2 of Law no. 2014-1 of 2 January 2014 enabled the French government to simplify and secure the legislation relating to companies in difficulty. Following consultation with practitioners, the French government issued an Ordonnance (the Order) on 12 March 2014 which was published in the Official Journal on Friday 14 March. The Order takes effect on 1 July 2014 and will...

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