Introduction

Scope of application

Compliance program

Protection of whistleblowers

Audit and sanctions

Rules arising from the Sapin II Law

EU law

French law

Rules derived from competition law

Sapin II Law/Competition

Scope ratione personae

Scope ratione materiae

Scope

Development of plan

Measures included in plan

Inclusion in management report

Vigilance plan

Injunctions

Civil liability

Sanctions

Duty of vigilance (devoir de vigilance)

CSR programs

Reporting

Communication

Reporting and communication

Judicial sanctions

Risk to reputation, strategy and stability

Corporate Social Responsability (CSR)

Middlenext Code

IFA Corpus

AFEP - MEDEF Code

Types

Principles of governance

Principles incorporating CSR values

Principles

Comply or explain

Binding force

Private codes of conduct

Compliance

Article L. 225-102-4 of the Commercial Code stipulates that the duty of vigilance plan and the report on its effective implementation must be made public and included in the management report presented by the undertaking's board of director to the general meeting of shareholders under Article L. 225-100. The report includes : an objective and exhaustive analysis of the company's business performance, earnings and financial position, including its debt burden, in relation to the volume and complexity of its business; key financial and, where applicable, non-financial performance indicators relating to the specific activity of the undertaking, including information on environmental and personnel matters; a description of the main risks and uncertainties facing the undertaking; information on its objectives and policy for hedging each major category of forecast transactions for which hedge accounting is used, and on its exposure to price, credit, liquidity and cash flow risks.

Under Article L. 232-23 of the Commercial Code, all companies are required to file their management report with the clerk of the General Court, which means that the vigilance plan is highly publicized, since it is available to anyone on demand. The aim is to enable the effectiveness of the plan to be monitored. However, the Constitutional Council has specified that this obligation to disclose information does not mean that the undertakings concerned must make public information relating to their industrial and commercial strategy .

Cons. constit., 23 March 2017, LawLex202200001718JBJ.

Public disclosure

116. Public disclosure