Introduction

Matrix organization

Mergers by absorption

Risks related to the expansion of the scope of criminal liability of legal entities

Validity conditions

Proof of delegation

Exemption from individual liability of delegator

Attribution of offense to legal entity

Delegations of authority

Criminal risk management within business organizations

Complicity in crimes against humanity

Breaches of secrecy

Personal data breaches

Theft

Extortion

Blackmail

Fraud

Misappropriation

Receiving/concealment of unlawfully obtained property (recel)

Attacks on automated data processing systems

Money laundering

Misappropriation by public official (concussion)

Corruption and influence peddling

Unlawful acquisition of an interest

Favoritism

Forgery and use of forgeries

Violation of Criminal Code

Offenses under the Monetary and Financial Code

Offenses under the Commercial Code

Environmental Code violations

Offenses arising from other codes

Types of offenses

Offenses under the Criminal Code, the Commercial Code, or the Environmental Code, Criminal procedure

White Collar Crime (en cours)

The scope of market abuse or stock market violations was formerly limited to instruments admitted or traded on a regulated market (former Art. L. 465-1, para. 1), that is, to instruments “admitted” according to Article L.421-1 of the Monetary and Financial Code, on “a multilateral system that ensures or facilitates the meeting (...) of multiple buying and selling interests expressed by third parti …

Instruments covered

The scope of market abuse or stock market violations was formerly limited to instruments admitted or traded on a regulated market (former Art. L. 465-1, para. 1), that is, to instruments “admitted” according to Article L.421-1 of the Monetary and Financial Code, on “a multilateral system that ensures or facilitates the meeting (...) of multiple buying and selling interests expressed by third parties for financial instruments, in a manner that results in the conclusion of contracts concerning financial instruments admitted to trading within the framework of the rules and systems of this market.”

Today, Article L. 465-3-4 of the Monetary and Financial Code provides for a much broader scope of application for market abuse offenses, as these provisions may apply to financial instruments traded on a trading platform or for which a request for admission to trading on a trading platform has been submitted , to financial instruments whose price or value depends on the price or value of another traded financial instrument or whose price or value affects the price or value of a traded financial instrument, as well as to greenhouse gas emission allowances referred to in Article L. 229-7 of the Environmental Code. The market abuse offenses, provided for in Articles L. 621-14 and L. 621-15 of the Monetary and Financial Code, concern the same instruments as insider dealing.

The scope of market manipulations (Art. L. 465-3-1 and L. 465-3-2) extends, under paragraph II of Article L. 465-3-4, beyond greenhouse gas emission allowances, to spot contracts on commodities and financial instruments the price or value of which affects the price or value of those contracts.

Share buyback transactions by companies involving their own shares, within the meaning of Articles L. 225-206 to L. 225-216 of the Commercial Code, stabilization operations  involving securities and associated instruments  and operations or behaviors relating to monetary policy, public debt management polcy, and climate policy .

Under the terms of L. 420-1, I of the Monetary and Financial Code: “a trading platform is a regulated market within the meaning of Article L. 421-1, a multilateral trading facility within the meaning of Article L. 424-1, or an organized trading system within the meaning of Article L. 425-1.”

See Article 3(2)(d) of Regulation No 596/2014.

See Article 3(2)(a) and (b) of Regulation No 596/2014.

See Articles 6(1) to (4) of Regulation No 596/2014.

White Collar Crime (en cours)

168. Instruments covered

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Sous parties

Les notions juridiques connexes

168. Instruments covered

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Sous parties

Les notions juridiques connexes

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au contenu exclusif Livv – juristes d’entreprise