The Action Plan of the European Commission of December 2012 on “European company law and corporate governance – a modern legal framework for more engaged shareholders and sustainable companies” mentioned that “the Commission will, in 2014, come with an initiative to improve both the...

France suffered from the financial crisis originating from the United States in 2007 like all other European countries. However, the French banking sector was significantly less impacted by the financial crisis than other European countries. This lead France to adopt a financial rescue plan...

The 10th anniversary of the great financial crisis of 2008 has been characterized by a sense of complacency and self congratulation. A sense of calm, which may be deceptive, has led to a lack of thinking about whether the global financial architecture is apt to address the future challenges...

This paper forms part of a series of five studies on mis-selling of financial products in the EU. The focus of this document is mis-selling of subordinated debt and other junior liabilities and weaknesses of MiFID. This report concludes that the mis-selling, essentially through self-placement,...

The recent French June 24, 2004 Ordinance significantly reforms the regulation on securities issued by certain commercial companies (Socieacute;teacute;s anonymes or joint-stock companies, Socieacute;teacute;s en commandite par actions or partnerships limited by shares, Socieacute;teacute;s par...

The International Organization of Securities Commissions (IOSCO) is the international standard setter for securities regulation. Because of its wide membership and consensus culture, which generally leads to a lack of granularity of its principles, the impact of IOSCO international principles...

Cash-Settled Derivatives (CSDs) have not been included in the calculation of crossing of thresholds according to the European Union (EU) Transparency Directive of 2004. However, the use of this type of financial instrument as a powerful takeover instrument has been widespread in Europe since...