March 25, 2019

France

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Officially known as the French Republic, France is comprised of the territory of metropolitan France and smaller overseas regions and territories; including, French Guiana in South America and smaller islands in the Indian, Atlantic, and Pacific Oceans, make up the French Republic.

The country has long been known as a global center of art, science, and philosophy. Today, over 83 million tourists visit the country annually, making it the most visited country in the world. The country has the fifth largest economy based on nominal GDP, and the ninth largest purchasing power parity (PPP). Health, education, human development, and life expectancy rates, are all areas which the country performs well in, on international rankings. France is also one of the five permanent members, with the power to veto, of United Nations Security Council, making it one of the great global-powers. It is also an official nuclear state.

France is a leading member of the European Union and Eurozone. It is a member of NATO, the WTO, Group of 7, and the Organisation for Economic Co-operation and Development. France relies on civil legal systems to govern the country. The country is governed by statutes, and judges don’t make law, but simply enforce it in the country. The Declaration of the Rights of Man and of the Citizen strongly govern the country, with the belief that laws should be used to prohibit actions which are detrimental to society.

 

As a founding member of the United Nations, the country has strong diplomatic ties with many nations. The country is a major hub for international trade, and is the world headquarters for many headquarters for organizations including OECD, Interpol, and UNESCO. The country has close ties with reunified Germany; the country has also maintained the "Entente cordiale" with the United Kingdom. The French economy is strongly driven by its trade market. 31 of the the world’s 500 largest organizations are located in France, meaning the country is ranked fourth in the Fortune 500 worldwide. Financial services, the insurance sector, banking, and the Stock Exchange, are all major economic-drivers for the country. In 2007, Euronext (French Stock Exchange) merged with the NYSE in the US, making it a part of the world’s largest market.

Areas of French law addressed include: mergers and acquisitions; private equity; banking and finance; derivatives and market infrastructure; projects and infrastructure: restructuring and insolvency; real estate; environmental, nanotechnology, health and safety; pharma, tax; E.U. and French competition law; French public and administrative law; commercial litigation; global disputes; intellectual property; information technology, cybersecurity and data protection; supply chain; block chain;  employment law and benefits and other legal concerns.  Our French legal news includes matters of concern to a number of industries, including automotive, oil and gas, energy, tech companies, mining, chemicals, nanomaterials, pharma, financial services, telecommunications and many more.

The NLR covers legal news concerning:

  • the French Supreme Court;
  • International Centre for Settlement of Investment Disputes (ICSID);
  • Euronext Paris;
  • CFIUS Filings;
  • EU General Data Protection Regulation (GDPR);
  • the French Data Protection Authority (CNIL);
  • the French Competition Authority;
  • the French National Drug and Health Product Agency  (ANSM);
  • the European Market Infrastructure Regulation (EMIR); 
  • the French Monetary and Financial Code; 
  • the French financial markets authority Autorité des marchés financiers; 
  • the French Minister of the Economy;
  • French Law relating to Transparency, the Fight against Corruption and Modernization of Economic Life, (Sapin II Law);
  • the Autorité de contrôle prudentiel et de resolution;
  • the French Treasury and French supervisors (Banque de France, Autorité de contrôle prudentiel et de resolution, and Autorité des marches financiers) and the interaction between French law and E.U., U.S.and other jurisdictions legal systems.

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