CASE COMMENTS: REGULATIONS – FINANCIAL MARKETS – FRANCE – FINANCIAL MARKETS AUTHORITY – SANCTIONS – ADMINISTRATIVE TRANSACTION

Financial markets: The French Administrative Supreme Court rules that the sanctions commission of the Financial Markets Authority may reject a settlement agreement ending the administrative prosecution against a credit institution and clarifies the legal framework applicable to such rejection decisions (Président de l’Autorité des marchés financiers / Arkéa Direct Bank)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. On 20 March 2020, the Litigation Assembly of the Council of State issued a noteworthy decision on the regulation of financial markets, the solution of which is likely to be of interest to sectors other than the one that gave rise to the case in question. The High Court was called upon to rule on conclusions seeking, on the one hand, the annulment of a decision of 27 June 2018 by which the Enforcement Committee of the Autorité des marchés financiers (AMF) decided not to approve an agreement entered into a few months earlier between the Secretary General of the AMF and Arkéa Direct Bank, a subsidiary of Crédit Mutuel Arkéa, and, on the other hand, the approval

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Emmanuel Guillaume, Rémi Ducloyer, Financial markets: The French Administrative Supreme Court rules that the sanctions commission of the Financial Markets Authority may reject a settlement agreement ending the administrative prosecution against a credit institution and clarifies the legal framework applicable to such rejection decisions (Président de l’Autorité des marchés financiers / Arkéa Direct Bank), 20 March 2020, Concurrences N° 3-2020, Art. N° 96357, pp. 172-174

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