Articles scientifiques

The whistleblower: an important person in corporatelife? An answer from comparative law


Journal of Business Law

A paraître

Départements : Droit et fiscalité, GREGHEC (CNRS), Comptabilité et Contrôle de Gestion

U.S. Economic Sanctions and the Corporate Compliance of Foreign Banks


The International Lawyer

A paraître

Départements : Droit et fiscalité, GREGHEC (CNRS)

In the last decade, the U.S. has dramatically increased the enforcement of its economic sanctions arsenal against foreign banks. While this arsenal continues to expand, legal scholarship tends to overlook one of its crucial consequences: a radical change in the compliance functions of the targeted banks. In fact, after entering into specific agreements with the U.S. government, non-U.S. banks commit to reforming their compliance functions according to U.S. standards. The depth of the relationship between the extraterritoriality of U.S. laws and banks’ compliance functions demands further inquiry. This article fills that gapby expounding how economic sanctions legislation drives developments in substantial compliance efforts by foreign banks, discussing the current economic sanctions regime and analyzing important enforcement cases. This Article concludes that, as non-U.S. banks manage the heavy burden of U.S. sanctions more deftly than before, a process of Americanization of corporate compliance is underway in the banking industry and beyond

De l'internormativité à la concurrence des normativités : quels sont le rôle et la place du droit ?


Les Cahiers de droit

mars 2018, vol. 59, n°1, pp.3-5

Départements : Droit et fiscalité, GREGHEC (CNRS)

Le droit n’a pas le privilège de l’incorporation de normes extérieures à son ordre, mais sa centralité et sa supériorité sont aujourd’hui mises en doute. D’où la question : quels sont encore le rôle et la place du droit dans un pareil contexte ? Dans la première partie, l’auteur aborde cette question de façon constative et factuelle, en réfléchissant aux modalités de confrontation des dispositifs normatifs dans le combat pour la dominance au sein du « grand tout culturel » (hégémonie, cloisonnement, ou domination assortie de collaboration). Dans la seconde partie, il assume une approche normative, et ce, en pensant les fonctions et les finalités que le droit est en mesure de poursuivre chaque fois que la société décide de le mettre au service des valeurs de liberté, d’égalité, de solidarité et de justice auxquelles les individus tiennent

Editorial: How to Counter Fake News? A Taxonomy of Anti-fake News Approaches


European Journal of Risk Regulation

mars 2018, vol. 9, n°1, pp.1-5

Départements : Droit et fiscalité, GREGHEC (CNRS)

Fake news is a symptom of deeper structural problems in our societies and media environments. To counter it, policymakers need to take into account the underlying, selfreinforcing mechanisms that make this old phenomenon so pervasive today. Only by taking a step back can we examine the vulnerabilities these fake news narratives exploit. This article provides a first taxonomy of anti-fake news approaches. It argues that proposed anti-fake news laws focus on the trees rather than the forest. As such, they will not only remain irrelevant but also aggravate the root causes fuelling the fake news phenomenon

European legal framework for algorithmic and high frequency trading (Mifid 2 and MAR): A global approach to managing the risks of the modern trading paradigm


European Journal of Risk Regulation

mars 2018, vol. 9, n°1, pp.146-153

Départements : Droit et fiscalité, GREGHEC (CNRS)

Algorithmic and high frequency trading use computer algorithms to execute strategies and the confluence of trends in computer hardware, programming, mathematical modelling, and financial innovation have pushed the limits of trading speed to unprecedented levels. Algorithms are fast and automatically spread disruptions through the financial system. Over the last decade, the ensuing systemic risk called for new regulations. This article attempts an early assessment of the new European legal framework (Mifid 2 and Market Abuse Regime) intended to tackle the technological risks of the modern trading paradigm