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Corporate Law

30 June 2022 | Claire Filliatre

The internal whistleblowing system must be adapted to comply with the Law designed to improve the protection of whistleblowers that will come into force on September 1, 2022

In order to strengthen the protection of whistleblowers and prevent the risks of retaliation measures within their company, Law No. 2016-1691 of December 9, 2016 on transparency, the fight against corruption and the modernization of economic life requires companies with more than 50 employees to set up an internal whistleblowing system.

Law No. 2022-401 of March 21, 2022 designed to improve the protection of whistleblowers requires companies to update their internal whistleblowing system.

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18 April 2022 | Sophia El Makhoukhi

Cross-border simplified mergers: The management bodies of the companies involved in the merger are required to prepare a written report

The Legal Committee of the Association Nationale des Sociétés par Actions (French association of joint stock companies, commonly referred to by its acronym “ANSA”) met on March 2, 2022 to express its opinion on the application, in the context of cross-border simplified mergers, of the exemption from the obligation to prepare a written report provided for in the context of domestic simplified mergers.

A brief reminder of the applicable rules in this area is necessary before presenting the issue at stake and the clarification given by ANSA.

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21 March 2022 | Florence Grangerat

French Supreme Court rules that the usufructuary is not a shareholder

It is clear that family-owned sociétés civiles immobilières (non-commercial property holding companies) are an inexhaustible source of litigation, particularly with regard to the rights of the usufructuary.

The ruling handed down by the Third Civil Chamber of the Cour de Cassation (French Supreme Court) on February 16, 2022 provides another significant example of this as it was published in the Bulletin of the Cour de Cassation.

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28 February 2022 | Catherine Nommick

Compliance implications in M&A transactions

Law No. 2016-1691 on transparency, the fight against corruption and the modernization of the economy of December 9, 2016, commonly referred to as the “Sapin II Law”, has provided France with innovative tools inter alia to detect, prevent and punish corruption and breaches of probity.

The reinforcement of the legal arsenal to better fight corruption is one of the major pillars of this Law, and the risks associated to breaches of compliance rules can prove to be a deterrent for buyers in the context of M&A transactions.

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28 January 2022 | Sophia El Makhoukhi

The measures adopted to adapt the control of foreign investments in France during the health crisis are further extended until December 31, 2022

The principle under French law is that financial dealings between France and foreign countries are unrestricted.

However, some investors making certain types of investments in so-called “sensitive” business sectors must follow a prior authorization procedure with the French Minister of the Economy.

The control of foreign investments in these business sectors has been significantly reinforced in recent years, especially since the outbreak of the health crisis resulting from the emergence and spread of COVID-19.

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