By Lilia Rusnac, Compliance Department Manager – FLA Consultants

On March 23, French President inaugurated in Paris the new French Anti-Corruption Agency as the keystone of the law called Sapin II promulgated last December.

The new structure will have the task of ensuring that anti-corruption standards are respected by large companies in France, in particular through ethical charters and internal codes of conduct.

The Agency, which is empowered by legislation to impose fines for non-deployment of these now mandatory measures, will not be able to initiate criminal prosecutions, its role being to alert the National Financial Office to the alleged failures. Finally, it is the authority which could make the concerned companies to pay the price of negligence in this matter, up to 30% of the average turnover over the last three years.

By Lilia Rusnac, Compliance Department Manager – FLA Consultants

The law of 9 December 2016 on transparency, the fight against corruption and the modernization of the economy, known as "Sapin 2" intends to introduce the principle of “Say on Pay”.

This mechanism gives shareholders the right to review the compensation of executives of listed companies. The introduction of this mechanism in the Commercial Code makes the shareholder vote binding.

The decree of March 16, 2017 introduced two new articles in the Commercial Code (Art R. 225-29-1 and R. 225-56-1). The decree specifies the elements to be included in the report related to remuneration policy: attendance fees, fixed amount, annual variable, multi-year variable, allocation of stock options, allocation of bonus shares, exceptional compensation, golden hello, severance benefits, retirement benefit, non-compete indemnity, provision of services in another group company, and other kind of benefits.

The 7th edition of Rendez-vous Carnot, a European show dedicated to public and private research partnerships, will be held in Lyon from 8th to 9th October 2013, at the Double-Mixte venue in Villeurbanne. We will be happy to meet you on our booth.

The Rendez-vous Carnot event provides a unique opportunity for companies to schedule business meetings with over 800 exhibitors, who are major actors in R&D, to meet their needs in innovation.

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