Decoding: “Brexit, the new Withdrawal Agreement” – 01/01/2020
Following the rejection of the Withdrawal Agreement and political declaration dated 14 November 2018 by the UK House of Commons the Johnson government and the EU commission have negotiated a new draft withdrawal agreement, finalized on 17 October 2019 from the one Boris Johnson’s predecessor, Theresa May, agreed with Brussels in following more than eighteen months of negotiation.
To avoid a sudden divorce between the UK and the EU, the European and UK parliaments must approve an exit agreement and a political declaration that will frame their future negotiations. The UK would then enter into a transition period until 31 December 2020: a period of time that would allow for agreements to be reached on future relations.
Initially set at midnight on 29 March 2019, and subsequently extended to 12 April, then to 31 October 2019, the fateful withdrawal date was set on 31 January 2020 at the latest. However, on 27 December 2019, European Commission President Ursula von der Leyen expressed serious doubts about the feasibility of negotiations on the United Kingdom’s exit from the European Union by the end of 2020 Most of elements of the provisions to be legally-binding of the former Withdrawal Agreement remain unchanged in the new one. It is summarized below.
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“Secured claims in French restructurings: lessons from the 2021 reforms and recent large case precedents”, JIBFL, november 2024
The treatment of secured claims in restructuring and insolvency is paramount for secured lenders whose risk-taking is based primarily on the quality of their collateral and its effectiveness in future restructuring scenarios and insolvency proceedings. Read the article : here
Paris | BANK-FINANCE-REGULATORY
The Dawn of a New Era in the French Duty of Vigilance’s Litigation Scene ?, LIR, September 2024
A few years after the adoption of French Corporate Duty of Vigilance law in 2017, the long-awaited Corporate Sustainability Due Diligence directive n°2024/1760 (“CSDDD”) was published on July 5, 2024, and entered into force on July 25. Read the article : here
| LITIGATION – ARBITRATION – MEDIATION
Fintech: how is the world shaping the financial innovation industry? (2024) – IBA Banking & Financial Law Committee – France
In France, there is no single set of regulation for fintechs. There is also no legal definition of fintechs. They are generally considered to be companies carrying innovative technologies in digital, artificial intelligence and data processing (big data) applied to the finance industry, where they play a role of accelerator of change, often disruptive. Read […]
| BANK-FINANCE-REGULATORY
Evaluating France’s introduction of the classes of affected parties mechanism – Article by Laïd Estelle Laurent – RESTRUCTURING & INSOLVENCY GUIDE 2024 FRANCE, 9/07/2024
The system has proved to be effective in addressing companies with business difficulties, but areas of uncertainty remain, say Laïd Estelle Laurent, Jean Delapalme, and Claire Blondel of Jeantet. To find out more, click here.
Paris | RESTRUCTURING – LAW OF COMPANIES IN DIFFICULTY
Wealthy French make post-election contingency plans – Quotes by Vincent Lazimi – Financial Times, 28/06/2024
«People are worried about a wealth tax, the end of the flat tax and potential higher taxation on salaries, as well as an overall atmosphere that is not pro-business. » To read the full article, click on the link below.
Paris | TAX
Western European lawyers play key role in navigating regulatory maze – Legal Advisory Viewer – MergerMarket – May 2024. Quotes by Karl Hepp de Sevelinges
“Deals are coming back in Western Europe, but a tough regulatory scene means it is harder than ever to get them over the line….” Link to the article
Paris | CORPORATE – M&A – PRIVATE EQUITY
Fida, une réforme pour le meilleur ou le pire de l’assurance – L’Agefi – Mai 2024. Citations d’Olivier Lyon Lynch
Sujet technique autant que polarisant, le projet de règlement européen de Financial Data Access (Fida) soulève interrogations et inquiétudes chez les acteurs de l’assurance. lien vers l’article
Paris | Fida, une réforme pour le meilleur ou le pire de l’assurance – L’Agefi – Mai 2024. Citations d’Olivier Lyon Lynch
Règlement MiCA – Règlement MiCA et réglementation des abus de marché – Etude par Dominique Legeais et Olivier Lyon Lynch, Revue de Droit bancaire et financier n° 5, Septembre-Octobre 2023
Research by Dominique Legeais, Professor at the Université Paris Cité and Director of CEDAG, and Olivier Lyon Lynch, lawyer – partner, Jeantet. The MiCA regulation deals with frequent market abuse. There is a repressive component and a preventive component. Essentially, the provisions are based on the Market Abuse Regulation (MAR). The system has been simplified […]
Paris | BANK-FINANCE-REGULATORY
Lamy Business law review – October 2023
The scope of seizures during authorized visits in securities law – Frank MARTIN LAPRADE Differences and similarities between home visits (administrative) and searches (criminal) – Frank MARTIN LAPRADE, Marie ROBIN website link
Paris | CAPITAL MARKETS AND STOCK EXCHANGE LAW | STOCK MARKET LITIGATION | CORPORATE CRIMINAL LAW
Interview with Philippe Bouchez El Ghozi on the Finance Law Bill for 2024 that includes a new infraction: the offence of providing instruments to facilitate tax fraud. What does it involve? – Actu-Juridique, 12/10/2023
The Finance Commission is examining the Finance Act for 2024. . Among the measures it proposes are the creation of a new infraction, the offence of procuring instruments to facilitate tax evasion, and the creation of an additional tax penalty of “temporary suspension of the right to benefit from reductions and credits in income tax […]
Paris | WHITE COLLAR CRIME – COMPLIANCE – INTERNAL INVESTIGATIONS
La position AMF DOC-2023-07 confirmant les orientations de l’ABE sur l’utilisation de solutions d’entrée en relation d’affaires à distance : une étape de plus vers l’harmonisation des pratiques en matière de LCB-FT, Bulletin Joly Bourse, 29/09/2023
In its position of July 28, 2023, the AMF declares that it is applying all the guidelines issued by the EBA concerning “the use of remote business relationship entry solutions”, published on November 22, 2022 and applicable from October 2, 2023. Here’s what our teams have to say.
Paris | BANK-FINANCE-REGULATORY
Energy transition still attracts investors, citation of Alexae Fournier-de Fay – Option Finance, 11/09/2023
Paris | PROJECT FINANCING / PUBLIC LAW / PPP | FINANCING