United States: Banque & Finance: Juillet-Août 2018

Banque & Finance

Gilles Kolifrath, François Poudelet, Jérôme Blanchet et Linda Sharkey – Banking, Finance and Insurance Letter Mai-Juin 2018 du 5 juillet 2018

La lettre client fait le point sur les développements récents en droit bancaire et financier.

Reid Feldman – Issues of Legal Uncertainty Arising in the Context of the Establishment of an E.U. Insurer in another Member State, in Report of the Financial Markets Law Committee du 12 juillet 2018

The FMLC report lays out the E.U. regulatory requirements which govern the freedom of establishment and the freedom to provide services in the case of insurers. It also examines the questions which will arise in the provision of insurance services after Brexit and concludes with recommendations .

Hugues Bouchetemble et Rémi Jouaneton –Distribution de produits financiers - Où il ne sert à rien pour le client de démontrer que le test d'adéquation a été mal effectué, s'il n'est pas en mesure établir qu'il en résulte un préjudice direct, Banking & Finance Alert du 19 juillet 2018

Un arrêt rendu par la chambre commerciale de la Cour de cassation du 3 mai 2018 (pourvoi n° 16- 16.809) donne l'occasion de revenir sur l'obligation faite aux PSI (mais cela vaut pour les CIF) de s'enquérir de la situation financière de leurs clients, de leur expérience en matière d'investissement et de leurs objectifs d'investissement, en bref sur l'obligation dite du « test d'adéquation (ou suitability).

Gilles Kolifrath, Jérôme Blanchet et Linda Sharkey –European derivatives master agreements, in Lexis PSL Banking & Finance de juillet 2018

This Practice Note sets out how derivatives are documented under the main master agreements used in Europe. These include those sponsored and developed by the International Swaps and Derivatives Association, Inc (ISDA), the European Banking Federation (EBF), the French Banking Federation (FBF), the Association of German Banks, the Spanish Banking Association and the Spanish Confederation of Savings Banks.

Pierre Storrer – Monnaies éléctronique et virtuelles à l'heure (ou presque) de la 4ème directive

antiblanchiment Bis, in Banque et Droit n°180 de juillet-août 2018

L'encre du décret français d'application de l'ordonnance de transposition de la 4e directive antiblanchiment à peine sèche, voici qu'est publiée au JOUE du 19 juin 2018 une 4e directive bis, bis dans la mesure où elle n'emporte pas abrogation de la précédente mais seulement modification.

Gilles Kolifrath – Quels modèles de rémunération pour la distribution des produits financiers et d'assurance ?, in Mélanges AEDBF France VII d'août 2018

L'année 2018 s'annonce chargée en réformes structurelles pour les acteurs de la distribution deproduits financiers et des produits d'assurance, avec l'entréee en vigueur en début d'année de la directive 2014/65/UE concernant les marchés d'instrumnts financiers (MIF 2) et si elle n'est pas reportée, celle de la directive 2016/97/UE sur la distribution d'assurances (DDA) . Ces deux textes visent chacun la problématique, tirée de celle des conflits d'intérêts, des rémun&rations des distributeurs de produits financiers ou d'assurance.

Hubert de Vauplane – Bitcoin, monnaie ou article de foi ?, in Mélanges AEDBF France VII d'août 2018

L'année 2017 aura été sans conteste, dans le monde de la Finance, celle des cryptomonnaies et en partculier du bitcoin. Adulé chez les uns, décrié chez les autres, le bitcoin et plus largement les cryptommonnaies ne peuvent laisser indififférent. Gigantesque bulle, énorme arnaque, nouvelle révolution, tous les superlatifs sont employés pour traiter le sujet. Alors que le phénomène restait cantonné au sein d'un cercle de geeks ou autres experts, il s'est largement démocratisé au cours de l'année 2017. Mais, au-delà du bruit médiatique, l'importace du phénomène conduit à s'interroger sur le sens qu'il convient d'y voir. Vu à l'origine comme un moyen de se libérer de l'Etat, le bitcoin est devenu l'objet de tous les fantasmes. Au point de se demander s'il ne faut pas y voir une nouvelle croyance, voire un nouvel article de foi.

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