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  • France’s Parliament Adopts an Innovative New Framework for Approving Initial Coin Offerings

    On April 11, 2019, the French parliament adopted a law (the “Loi Pacte”or “Law”)[1] that establishes a new regulatory framework for initial coin offerings (“ICOs”) of blockchain based tokens by entities established or registered in France.  At the heart of the Law’s ICO provisions is an innovative framework that will allow issuers to request an...

  • France, Germany, UK Launch INSTEX to Facilitate Trade With Iran

    On January 31, 2019, France, Germany and the UK (the “E3”) announced the creation of the Instrument in Support of Trade Exchanges (“INSTEX”), a special purpose vehicle intended to facilitate legitimate trade between European companies and Iran, registered in France. This initiative is supported by the European Union. The vehicle was created in the wake of...

  • New EU-wide Foreign Direct Investment Screening System Approved

    After brisk movement through the EU legislative process, the proposed EU Regulation on Foreign Direct Investment Screening (the “Regulation”) was approved by the European Parliament on February 14, 2019. This development comes amidst a global sprint to strengthen and establish foreign direct investment laws, including in France, UK, Germany, and Hungary, as well as the...

  • France Implements Sweeping Anti-Corruption Reform

    On March 14, 2017, France adopted a decree detailing the organization and functioning of its new anti-corruption authority, including its sanctions commission. The broad powers vested in this new agency are part of a series of sweeping measures adopted by the so-called “Sapin II” law of December 9, 2016. These measures strengthen France’s anti-corruption legislation,...

  • France Introduces Sweeping Anti-Corruption Reform

    On March 30, France released a draft bill (so-called “Sapin II” bill) aimed at strengthening its anti-corruption legislation. If adopted, this reform will have far-reaching consequences for French and foreign groups. Under French law, corruption, including active and passive bribery (corruption) and influence peddling (trafic d’influence), is a criminal offense punishable by up to 10...

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