The French Court of Cassation provides clarification on two issues: pursuant to Article L. 241-5 of the French Commercial Code, in the version in force since March 2012, a mere delay in submitting accounting documents to the shareholders’ meeting or to the sole shareholder of an SARL does not constitute a criminal offence; furthermore, neither […]
The decision of the AMF Enforcement Committee of 27 November 2023 provides interesting analysis of the procedural and substantive implications of a conflict of interests between an issuer and its former executives in proceedings for market manipulation through the dissemination of false or misleading information. It also illustrates various findings of breaches involving the dissemination
The requirement laid down in Articles 60 and 77-1 of the Code of Criminal Procedure that « qualified persons » assisting judicial police officers (OPJs) during a search take an oath is an essential procedural requirement « enacted to ensure the reliability of the gathering and presentation of evidence ». Its breach may therefore be
In a judgment of 18 January 2023, the Court of Cassation recalled the requirement to give reasons for the additional penalty of confiscation and the nature of that penalty, which requires it to be imposed as punishment for offences of which a defendant has been found guilty. This case is not new: it had already
Under Article L. 621-12 of the Monetary and Financial Code (in the version preceding that introduced by Ordinance No. 2017-1107 of 22 June 2017), the Plenary Assembly of the Court of Cassation held that «documents and information storage media connected with the subject matter of the investigation and located on, or accessible from, the premises
