France Finance – CC87 Ported OC http://cc87portedoc.com/ Thu, 23 Jun 2022 19:03:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://cc87portedoc.com/wp-content/uploads/2021/05/default.png France Finance – CC87 Ported OC http://cc87portedoc.com/ 32 32 Best Lawyers in France 2023 rewards 18 Gibson Dunn lawyers https://cc87portedoc.com/best-lawyers-in-france-2023-rewards-18-gibson-dunn-lawyers/ Thu, 23 Jun 2022 17:14:32 +0000 https://cc87portedoc.com/best-lawyers-in-france-2023-rewards-18-gibson-dunn-lawyers/ June 23, 2022 Best Lawyers and Best Lawyers: Those to Watch in France 2023 recognized 18 Gibson Dunn lawyers, and 16 Gibson Dunn lawyers were recognized as leading lawyers in their respective areas of practice. The partners highlighted, with their respective areas of practice, are: Nicolas Autet – Administrative law, public law and regulatory practice; […]]]>

June 23, 2022

Best Lawyers and Best Lawyers: Those to Watch in France 2023 recognized 18 Gibson Dunn lawyers, and 16 Gibson Dunn lawyers were recognized as leading lawyers in their respective areas of practice.

The partners highlighted, with their respective areas of practice, are: Nicolas Autet – Administrative law, public law and regulatory practice; Nicolas Baverez – Administrative Law, Public Law and Regulatory Practice; Maïwenn Béas – Administrative Law, Public Law and Regulatory Practice; Amanda Bevan-de Bernède – Banking and Financial Law, Insolvency and Reorganization, and Investment; Eric Bouffard – International Arbitration; Bertrand Delaunay – Corporate law, insolvency and reorganization law, mergers and acquisitions law and private equity law; Jérôme Delauriere – Tax law; Jean-Pierre Farges – Arbitration and Mediation, Banking and Financial Law, Insolvency and Reorganization Law, and Litigation; Pierre-Emmanuel Fender – Insolvency and Reorganization Law and Litigation; Benoît Fleury – Corporate law, insolvency and reorganization law, and leveraged buyout law; Nathalie Fleury – Insolvency and restructuring law and labor and employment law; Bernard Grinspan – Corporate Law, Information Technology Law, Leveraged Buyouts, Mergers & Acquisitions and Private Equity Law; Ariel Harroch – Corporate Law, Mergers & Acquisitions Law, Private Equity Law, Securities Law and Tax Law; Patrick Ledoux – Company law; Vera Lukic – Information technology law, intellectual property law, outsourcing, privacy and data security law and technology law; and Judith Raoul-Bardy – Corporate Law and Mergers and Acquisitions Law.

Two lawyers from Gibson Dunn were also recognized in the France Ones to Watch List: Marie-Charlotte Mevel – Mergers and Acquisitions Law and Julia-Barbara Michalon – Banking and Financial Law. The lists were published on June 23, 2022.

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South Africa’s $8.5 billion climate pact could attract new partners https://cc87portedoc.com/south-africas-8-5-billion-climate-pact-could-attract-new-partners/ Tue, 21 Jun 2022 19:10:48 +0000 https://cc87portedoc.com/south-africas-8-5-billion-climate-pact-could-attract-new-partners/ Breadcrumb Links PMN Company Alok Sharma, chair of the COP26 climate talks, said other nations and philanthropic organizations are keen to join the $8.5 billion climate finance deal offered to South Africa by the UK , the United States, Germany, France and the European Union. Author of the article: Bloomberg News Antoine Sguazzin High voltage […]]]>

Alok Sharma, chair of the COP26 climate talks, said other nations and philanthropic organizations are keen to join the $8.5 billion climate finance deal offered to South Africa by the UK , the United States, Germany, France and the European Union.

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(Bloomberg) – Alok Sharma, chair of the COP26 climate talks, said other nations and philanthropic organizations are keen to join the $8.5 billion climate finance deal offered to South Africa by the United Kingdom, the United States, Germany, France and the European Union.

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This could increase the amount of money South Africa will receive to help the country shift away from coal, he told a press conference in Johannesburg on Tuesday. Fuel accounts for more than 80% of the country’s electricity production.

The Just Energy Transition Partnership was announced during the COP26 talks in Glasgow in November and terms are being negotiated by South Africa and partner countries. The agreement was presented as a model for future agreements with other coal-dependent developing countries.

“This JETP is to launch additional support that will come,” said Sharma, who is also a UK cabinet minister. “We know, for example, that there are other developed economies that have an interest in supporting South Africa.”

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“There is also interest from philanthropies and I think there is also interest from the private sector,” he said.

South Africa, the world’s 13th largest source of greenhouse gases, will have to spend $250 billion over the next three decades to finance the shutdown of coal-fired power stations and the development of alternative green energy such as wind and solar, according to a study published last month.

In addition, money will need to be spent to compensate coal-dependent communities whose livelihoods are threatened by the change, said the Blended Finance Task Force and the Center for Sustainability Transitions at the University of Stellenbosch. .

“As part of a long-term transition, this will require a lot more funding,” Sharma said, adding that he spoke with seven South African ministers on Tuesday. “Anything that this partnership can help catalyze in terms of additional funding, I think, is very good news.”

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Sharma said he wanted concrete progress in the talks with South Africa by the COP27 climate meeting in Egypt later this year.

South Africa is expected to produce a draft investment plan in July and a final version to be signed with partner countries in early November, the South African government and Sharma said in a joint statement.

The COP26 President also told the press conference that partnerships with other developing countries could be announced during the upcoming climate negotiations.

“We are working with a number of other governments in terms of just energy transition partnerships for these particular nations,” he said. “I hope we will be able, by COP27, to make political statements on this.”

Sharma said he also met with mining companies and miners’ union leaders.

(Updates with joint statement comment in penultimate paragraph)

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Analysis: Jupiter is no more: Macron learns the art of compromise the hard way https://cc87portedoc.com/analysis-jupiter-is-no-more-macron-learns-the-art-of-compromise-the-hard-way/ Mon, 20 Jun 2022 07:11:00 +0000 https://cc87portedoc.com/analysis-jupiter-is-no-more-macron-learns-the-art-of-compromise-the-hard-way/ Macron will have to reach out to other parties to govern The Fifth Republic has little history of consensus Obstruction, likely obstruction in new chamber Macron could call early legislative elections at some point PARIS, June 19 (Reuters) – Jupiter has lost its thunder. Emmanuel Macron, whose first presidential term was marked by a style […]]]>
  • Macron will have to reach out to other parties to govern
  • The Fifth Republic has little history of consensus
  • Obstruction, likely obstruction in new chamber
  • Macron could call early legislative elections at some point

PARIS, June 19 (Reuters) – Jupiter has lost its thunder. Emmanuel Macron, whose first presidential term was marked by a style of government from above that he compared to that of the all-powerful Roman god, will have to learn the art of consensus in the second.

Deprived of the absolute majority by the voters on Sunday, the French president can no longer count on Parliament as a simple enrollment chamber. Instead, he will be forced to negotiate with demanding allies and new partners with a vendetta.

The screenings showed that “Together!” from Macron! The coalition bloc had missed an absolute majority by 40 to 60 lawmakers, a much bigger deficit than expected and a crushing result for the president. Read more

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This means he will likely have to seek the support of the conservative Les Républicains (LR) party, who will relish his role as kingmaker and want to exact a heavy toll from Macron for legislative support – including perhaps a change of prime minister. .

“This culture of compromise is the one we will have to adopt, but we must do it around clear values, ideas and political projects for France,” said Finance Minister Bruno Le Maire, himself a former conservative, in an apparent attempt to reach out to his former political family.

However, in a country whose post-war leader Charles de Gaulle said was ungovernable given its 246 types of cheese, it will be difficult for Macron, but also for his potential partners, to learn the northern European art of consensus building and coalition work.

Senior Republican officials appeared to reject a broad coalition deal on Sunday night and would remain in opposition, but will be “constructive” – ​​hinting at possible deals on a bill-by-bill basis.

“I fear that we are no longer in an Italian-style political situation where it will be difficult to govern than in a German situation with its search for consensus,” Christopher Dembik, an analyst at SaxoBank, told Reuters.

“It’s not necessarily a tragedy, in my opinion. It may be an opportunity to reinvigorate French democracy and return to the true meaning of parliament,” he said.

Macron was frequently criticized during his first term for ramming through parliament business-friendly reforms that were drafted by his aides at the Elysee Palace without consulting lawmakers or outside stakeholders.

His rivals have regularly accused the president of being out of touch and arrogant. A government source said that was likely what voters sought to sanction.

“It’s a message about the lack of basis and the arrogance that we’ve shown at times,” the source said.

During the campaign, Macron sought to counter that accusation by promising a “new method” of government, proposing to create a new body outside parliament that would be filled with civil society figures and whom he would consult on future reforms.

In the end, French voters, it seems, were not convinced.

Filibustery

Macron risks facing filibuster from both sides of the chamber. The left-wing Nupes alliance, which has transformed an already combative contingent of lawmakers into the largest opposition force in parliament, will be relentless in its obstruction.

Parliament’s rules state that an opposition MP must head the powerful finance committee, which can ask the government for access to confidential tax information and temporarily block budget bills.

It would be a particularly painful way to keep Macron’s feet on fire.

Across the aisle, Marine Le Pen’s far-right National Rally would also risk asserting its newly acquired right as a parliamentary group of lawmakers to launch parliamentary inquiries and challenge bills in the House. Constitutional Court, senior RN officials. said.

These investigations can force government ministers or even presidential aides to testify publicly in parliament.

These parties will also replenish their coffers with taxpayers’ money which will be distributed to political parties based on their election results, which raises the specter of strong challenges from them in the next presidential election in 2027.

Of course, compromise does not necessarily mean paralysis.

Macron’s new center-right partners will find it hard not to support his more conservative reform plans, such as raising the retirement age to 65 or linking social benefits to training or community work.

Some laws can be painstakingly passed.

But how long Macron will agree to share power remains to be seen. The president has the power to call a snap general election at any time, and political sources expect another thunderclap from Jupiter at some point.

“I expect a dissolution of parliament in about a year,” a center-right lawmaker whose party may try to strike a deal with Macron’s party told Reuters.

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Reporting by Michel Rose; Editing by Daniel Wallis

Our standards: The Thomson Reuters Trust Principles.

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German, French and Italian leaders arrive in Kyiv to show solidarity https://cc87portedoc.com/german-french-and-italian-leaders-arrive-in-kyiv-to-show-solidarity/ Thu, 16 Jun 2022 06:51:00 +0000 https://cc87portedoc.com/german-french-and-italian-leaders-arrive-in-kyiv-to-show-solidarity/ KYIV, June 16 (Reuters) – French President Emmanuel Macron, German Chancellor Olaf Scholz and Italian Prime Minister Mario Draghi arrived in Kyiv on Thursday as part of a joint trip to show support for Ukraine as it struggles to resist a Russian assault. BFM TV broadcast live footage of the night train arriving in the […]]]>

KYIV, June 16 (Reuters) – French President Emmanuel Macron, German Chancellor Olaf Scholz and Italian Prime Minister Mario Draghi arrived in Kyiv on Thursday as part of a joint trip to show support for Ukraine as it struggles to resist a Russian assault.

BFM TV broadcast live footage of the night train arriving in the Ukrainian capital.

It took weeks to arrange the visit, with the three men seeking to overcome criticism in Ukraine over their response to the war.

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“It’s an important moment. It’s a message of unity that we send to Ukrainians,” Macron said upon his arrival in Kyiv.

Asked why the visit was taking place now, an Elysee official said he felt it was best done just before an EU summit next week which is due to discuss the bid from Kyiv to join the bloc of 27 nations.

The European Commission is due to make a recommendation on Friday on Ukraine’s status as an EU candidate, something Europe’s biggest nations have been lukewarm about.

“The useful moment for this visit was the European Council of 23/24, where a strong symbolic gesture is expected by the Ukrainians,” said the Elysée official.

“A balance needs to be struck between Ukraine’s natural aspirations to (join) the EU at a very special time, and the attention given to all the countries that already have candidate status and are stuck in the chapters of negotiation and the fact that we must not destabilize the EU or fracture it”.

HEROIC

Speaking in Romania on Wednesday, Macron said it was time for Europe to reassure Ukraine of its European ambitions. Read more

“We are at a time when we Europeans must send clear political signals to Ukraine and its people as they resist heroically,” he said, without giving details.

Kyiv has accused France, Germany and, to a lesser extent, Italy of dragging its feet in supporting Ukraine, saying they have been slow to deliver weapons and push their own prosperity before the freedom and security of Ukraine.

Oleksiy Arestovych, an adviser to Ukrainian President Volodymyr Zelenskiy, told German newspaper Bild this week that he feared the three leaders would pressure Kyiv into accepting a peace deal favorable to Russian President Vladimir Putin.

“They will say we have to end the war which is causing food problems and economic problems…that we have to save face for Mr. Putin,” he said, referring to Macron’s comments this month. that it was vital not to humiliate the Russian leader. Read more

Responding to this concern, Draghi said on Tuesday it was important that the peace talks begin as soon as possible, but added that they must take place “on terms that Ukraine deems acceptable”.

Zelenskiy is expected to push his visitors to send more weapons to help his beleaguered army resist the Russian invaders.

Ukraine has been particularly critical of Germany’s military aid and the country’s ambassador to Berlin, Andrij Melnyk, told German broadcaster NTV he expected Scholz hands over long-promised but not yet delivered heavy weapons.

Scholz dismissed allegations that he withheld much-needed military support, saying he was one of Ukraine’s biggest military and financial backers and needed time to train Ukrainian soldiers to use the sophisticated artillery systems it offered.

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Additional reporting by Sarah Marsh and Andreas Rinke in Berlin, John Irish, Michel Rose and Benoit Van Overstraeten in Paris; Written by Crispian Balmer and Ingrid Melander; Editing by Toby Chopra, Mark Potter and Angus MacSwan

Our standards: The Thomson Reuters Trust Principles.

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American Industrial Partners takes control of the Belgian factory of Sanjeev Gupta https://cc87portedoc.com/american-industrial-partners-takes-control-of-the-belgian-factory-of-sanjeev-gupta/ Tue, 14 Jun 2022 14:05:30 +0000 https://cc87portedoc.com/american-industrial-partners-takes-control-of-the-belgian-factory-of-sanjeev-gupta/ Sanjeev Gupta has lost control of a Belgian aluminum plant to private equity firm American Industrial Partners, effectively dismantling the metals magnate’s aluminum business in continental Europe. Gupta’s metals group GFG Alliance, which is under criminal investigation over allegations of fraud and money laundering in the UK and France, has fought to refinance more than […]]]>

Sanjeev Gupta has lost control of a Belgian aluminum plant to private equity firm American Industrial Partners, effectively dismantling the metals magnate’s aluminum business in continental Europe.

Gupta’s metals group GFG Alliance, which is under criminal investigation over allegations of fraud and money laundering in the UK and France, has fought to refinance more than $5 billion of debt after the collapse of its main lender Greensill Capital last year. GFG has denied any wrongdoing.

AIP, an American takeover company specializing in the takeover and operation of industrial companies, announced on Tuesday that it had taken over control of an aluminum rolling mill located in Duffel, Belgium, from Gupta.

The metallurgy plant is the second the US group seized from GFG last year, having successfully taken over Europe’s largest aluminum smelter in Dunkirk, France, in October.

In both cases, AIP bought out the debt from the original lenders and then called a default. In Duffel’s case, the US buyout group acquired a €96 million loan from Asian investment firm Tor Investment, which was in a UK holding company that owned the aluminum plant.

AIP said it took action due to Gupta’s “failure to refinance the business in the 11 months since the July 2021 defaults” on that loan. In a progress report published in February, the directors of the British holding company also said that efforts to repay the debt were “at a standstill” and that it had not “received satisfactory proposals from Mr Gupta and of its representatives”.

“We look forward to continuing under the new leadership of AIP, which is committed to a sustainable future for our business,” said Duffel Managing Director Geert Vannuffelen. “We are positive about the steps AIP has taken to further invest in the business, which demonstrates their commitment to reaching the full potential of our plant.”

The loss of the Belgian factory is a blow to Gupta, whose Alvance aluminum business has now lost control of all its operations in continental Europe, leaving it with just one foundry in the Scottish Highlands.

It comes days after Gupta failed to have three of its UK steel companies fired on the grounds that their problems were caused by the coronavirus pandemic. The judge in that case also noted that the metals mogul’s efforts to raise new funding had failed, arguing that it “is more likely than not that the reason for not securing alternative funding is the inability to provide financial information to a funder to support funding”.

Gupta last year secured funding from commodities trader Glencore in a bid to repay outstanding debts to Dunkirk and Duffel, but the deal fell through after AIP successfully maneuvered to push two UK holding companies that held the assets under administration.

Late last year, GFG sued one of AIP’s funds in a bid to recover the Dunkirk smelter, arguing that the buyout group’s refusal to agree to a $180 million transfer to repay a debt had been made in “bad faith” in order to “appropriate” the foundry.

AIP rejected the allegation, arguing that accepting the payment could have constituted a “benefit of criminal conduct”, after claiming that the French government had told it “that there were reasons to believe” that the funds had been “hijacked” from a steel mill in the east of the country. Europe. The Financial Times reported last month that documents showed GFG transferred money from a steel mill in the Czech Republic in a bid to settle debt with AIP.

GFG said on Tuesday that it was “committed to doing everything possible to fight against the premeditated and predatory maneuvers of AIP to seize our assets in Dunkirk and Duffel cheaply”.

The company confirmed that it had launched several legal actions against the American private equity firm following its refusal to repay the debt of GFG and Tor Investment. He added that he continued to make “solid progress in restructuring its operations around the world”.

He noted that his recent standstill agreement with Greensill Bank, his biggest creditor which lent him 2.2 billion euros against several of his European steel mills, demonstrated that he was getting closer to a “consensual restructuring of the debt that is in the best interest of all our stakeholders”.

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Quebec focuses on French-speaking immigrants as companies clamor for workers https://cc87portedoc.com/quebec-focuses-on-french-speaking-immigrants-as-companies-clamor-for-workers/ Sun, 12 Jun 2022 13:05:26 +0000 https://cc87portedoc.com/quebec-focuses-on-french-speaking-immigrants-as-companies-clamor-for-workers/ Breadcrumb Links PMN Company Author of the article: Reuters Allison Lampert and Anna Mehler Paperny Content of the article MONTREAL — Quebec’s plans to attract more French-speaking newcomers are worrying some business owners who say they need immigrants from diverse backgrounds to cope with a tight job market in the Canadian province. Unlike the other […]]]>

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MONTREAL — Quebec’s plans to attract more French-speaking newcomers are worrying some business owners who say they need immigrants from diverse backgrounds to cope with a tight job market in the Canadian province.

Unlike the other provinces, Quebec chooses its economic immigrants. The government has previously reduced the number of new permanent residents it brings in, relying more on temporary workers, and says it has increased the Francophone share of economic immigrants.

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Premier François Legault’s Coalition Avenir Québec (CAQ) is determined to protect French, which he says is vulnerable in a predominantly English-speaking North America, ahead of the October election.

His government announced a new Minister of French and passed sweeping legislation requiring, among other things, that newcomers receive most non-health-related services in French after six months in the province.

As Legault campaigns to attract more French speakers, some business owners warn the move could discourage immigrants with essential skills. Quebec has the second highest job vacancy rate in Canada among the provinces.

Montreal entrepreneur Vince Guzzo, whose businesses include restaurants and cinemas, said he desperately needs dishwashers, no matter what language they speak.

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“I would download an app… and my phone would translate it into Punjabi if I had to,” Guzzo told Reuters.

According to Statistics Canada data from the fourth quarter of 2021, Quebec accounts for nearly 40% of the approximately 81,000 job vacancies in the manufacturing sector in Canada. Manufacturing accounted for 12.6% of Quebec’s gross domestic product in 2021, more than any other sector.

“We are not saying that French is not important. But this becomes a limiting factor when we seek to attract the best talent we need,” said Véronique Proulx, president of Manufacturiers et Exportateurs du Québec.

She called Quebec’s shift to temporary work a “band-aid” for labor shortages in the manufacturing sector. “We have companies considering closing production lines.”

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Quebec Minister Jean Boulet, responsible for Labor and Immigration, said by email that his government had taken measures to attract foreign students and attract workers in priority sectors. He said the new law would include services to make learning French easier.

Quebec plans to welcome more than 71,000 permanent residents in 2022 after the number of immigrants fell to 25,225 in 2020 due to the pandemic.

Boulet said the CAQ deliberately attracted fewer new permanent residents after taking office in 2018 to help newcomers integrate, and is making efforts to better recognize foreign credentials.

Quebec’s share of the total number of new permanent residents in Canada fell to about 12.4% last year, from 21.3% in 2012, according to government data.

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Quebec also risks losing newcomers to other Canadian regions. About 16.3% of immigrants who arrived in Quebec in 2009 left for other provinces in 2019, nearly double that of Ontario, according to Statistics Canada data.

“NOT ALWAYS REALISTIC”

Quebec has always been a popular destination for immigrants to Canada. But changing criteria to make temporary residents permanent and long waits to obtain residency could discourage newcomers, said Rosalie Brunel, a Montreal-based immigration lawyer.

Boulet said 84% of economic immigrants admitted in 2021 spoke French, up from 56% in 2019.

His office said Quebec has increased its French-speaking share by selecting candidates in certain immigration streams and making French-language programs available to temporary residents.

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Legault wants Quebec to choose people who immigrate to join their families – a power held by Canada’s federal government – ​​so that it can select more French speakers.

The head of a manufacturer said the government wanted companies to recruit French-speaking workers.

Quebec said businesses can also look to alternatives such as automation.

“The dream is to have well-trained workers who speak French, but that’s not always realistic,” said Eric Beaupré, CEO of Technosub. Technosub, based in rural Rouyn-Noranda, Quebec, produces and repairs pumps for the mining and other sectors.

With a limited local workforce, Technosub is hiring more temporary workers from Latin America and the Philippines who need skills and are learning French on the job, he said.

Emmanuel Suerte Felipe arrived at Technosub as a temporary worker from the Philippines in 2018. His French is good enough for the job, but he is worried that he will succeed in obtaining permanent residency as he wants to bring his family to Quebec.

“I would like to stay here,” he said. “I Found My Dream Job” (Reporting by Allison Lampert in Montreal and Anna Mehler Paperny in Toronto; Editing by Denny Thomas and Bill Berkrot)

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The AMF tightens the approval criteria for DASPs https://cc87portedoc.com/the-amf-tightens-the-approval-criteria-for-dasps/ Fri, 10 Jun 2022 19:44:17 +0000 https://cc87portedoc.com/the-amf-tightens-the-approval-criteria-for-dasps/ The Autorité des marchés financiers (AMF), the French financial market supervisory authority, has announced that it has tightened its “substantive criteria” for the authorization of digital asset service providers (DASP). According to the AMF, DASPs must use a language understandable by all French clients in their marketing materials. This language requirement also applies to supplier […]]]>

The Autorité des marchés financiers (AMF), the French financial market supervisory authority, has announced that it has tightened its “substantive criteria” for the authorization of digital asset service providers (DASP).

According to the AMF, DASPs must use a language understandable by all French clients in their marketing materials.

This language requirement also applies to supplier communication when handling complaints from French customers, the regulator said.

This new rule is part of the update the market supervisor has just brought to its policy on the regime of digital asset service providers.

However, he stressed that the policy, codenamed Position AMF DOC-2020-O7, remains a work in progress and may be updated regularly, depending on issues raised by stakeholders.

The AMF said it has revised the policy to reflect changes in the products and business models of players in the country’s digital asset industry.

“Certain provisions have been clarified, while those that have become obsolete have been deleted”, indicates the AMF in A declaration released on Friday.

Other Policy Changes

In the revised version of the policy, the AMF stressed the need for companies wishing to register as DASPs to ensure that the assets they offer are indeed digital assets.

The regulator added that the policy also emphasizes the need for providers to monitor the nature of the digital assets they offer as services for as long as their offerings are in effect.

The AMF also indicates that the section of the policy that answers questions on marketing has been completed.

The goal, he added, is to clarify the concept of promotional marketing that locates a digital asset service in France.

“The AMF also indicates that the use of an application programming interface (API) does not exclude the qualification of the digital asset custody service or other digital asset services. Services must be analyzed on a case-by-case basis,” he also explained in the statement.

Additionally, the regulator said it added a new question to the policy.

This question, he said, clarifies the extent to which services can be provided when DASPs allow their customers to participate in crypto staking or lending.

“Finally, questions relating to transitional provisions or provisions in force before May 1, 2021 have been removed as they are now obsolete,” added the AMF.

The Autorité des marchés financiers (AMF), the French financial market supervisory authority, has announced that it has tightened its “substantive criteria” for the authorization of digital asset service providers (DASP).

According to the AMF, DASPs must use a language understandable by all French clients in their marketing materials.

This language requirement also applies to supplier communication when handling complaints from French customers, the regulator said.

This new rule is part of the update the market supervisor has just brought to its policy on the regime of digital asset service providers.

However, he stressed that the policy, codenamed Position AMF DOC-2020-O7, remains a work in progress and may be updated regularly, depending on issues raised by stakeholders.

The AMF said it has revised the policy to reflect changes in the products and business models of players in the country’s digital asset industry.

“Certain provisions have been clarified, while those that have become obsolete have been deleted”, indicates the AMF in A declaration released on Friday.

Other Policy Changes

In the revised version of the policy, the AMF stressed the need for companies wishing to register as DASPs to ensure that the assets they offer are indeed digital assets.

The regulator added that the policy also emphasizes the need for providers to monitor the nature of the digital assets they offer as services for as long as their offerings are in effect.

The AMF also indicates that the section of the policy that answers questions on marketing has been completed.

The goal, he added, is to clarify the concept of promotional marketing that locates a digital asset service in France.

“The AMF also indicates that the use of an application programming interface (API) does not exclude the qualification of the digital asset custody service or other digital asset services. Services must be analyzed on a case-by-case basis,” he also explained in the statement.

Additionally, the regulator said it added a new question to the policy.

This question, he said, clarifies the extent to which services can be provided when DASPs allow their customers to participate in crypto staking or lending.

“Finally, questions relating to transitional provisions or provisions in force before May 1, 2021 have been removed as they are now obsolete,” added the AMF.

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Singapore Crypto Payments Startup Raises $5.5M from Animoca Brands, European VCs, The Sandbox Founders, Fantom and Aave https://cc87portedoc.com/singapore-crypto-payments-startup-raises-5-5m-from-animoca-brands-european-vcs-the-sandbox-founders-fantom-and-aave/ Thu, 09 Jun 2022 04:45:00 +0000 https://cc87portedoc.com/singapore-crypto-payments-startup-raises-5-5m-from-animoca-brands-european-vcs-the-sandbox-founders-fantom-and-aave/ The new capital round will support the company’s efforts to expand its in-app services and grow its team to capture a larger share of the growing crypto payments space. According to a report by blockchain data platform Chainalysis, the volume of cryptocurrency transactions worldwide has increased to $15.8 trillion in 2021, up 567% compared to […]]]>

The new capital round will support the company’s efforts to expand its in-app services and grow its team to capture a larger share of the growing crypto payments space. According to a report by blockchain data platform Chainalysis, the volume of cryptocurrency transactions worldwide has increased to $15.8 trillion in 2021, up 567% compared to 2020.

Yat SiuExecutive Chairman and Co-Founder of Animoca Brands, said, “The services provided by Request Finance allow Web3 projects – including some Animoca Brands companies – to save time and effort on crypto payments. We believe that the business has significant potential for growth and expansion.”

Simplify Enterprise Crypto Payments

Since its launch in January 2021a standard $203 million in crypto bills have been paid in the app. Today, Request Finance simplifies and automates crypto invoicing, expenses, payroll, and accounting for over 2,000 Web3 teams.

Sebastien Borgetco-founder and COO of metaverse giant, The Sandbox, who personally backed the company’s seed round, said, “We were looking for a robust solution to enable crypto payments for the hundreds of invoices; salaries and various expenses generated by our request for funding has been the go-to solution that has exceeded our expectations and is evolving as The Sandbox continues to expand the open metaverse.

It all started with a simple idea: give businesses a better way to pay and get paid in crypto.

The founders saw serious issues that needed to be addressed before more companies started using crypto. For one thing, making crypto payments by copying and pasting wallet addresses from a spreadsheet is both laborious and woefully vulnerable to human error. On top of that, keeping proper financial records of crypto transactions was also an accountant’s nightmare.

To address these issues, the team created a suite of business-friendly features like on-chain payment confirmations, automated crypto invoicing and payments, and even integrations with accounting software like Xero. The self-custody platform currently supports over 150 tokens and stablecoins on 14 different chains.

By addressing common challenges faced by businesses using crypto, it has attracted heavy users from different Web3 verticals. Notable names include DeFi companies like Aave, metaverse projects like The Sandbox and Decentraland, and DAOs like Maker.

With growing calls for crypto payments to be regulated by existing tax and anti-money laundering laws, Request Finance also offers companies an easy way to document the information about their crypto payments which is usually required by authorities.

Alexis du Peloux, Principal, at XAnge, commented: “After backing Ledger, Coinhouse and Dogami, we are backing a Web3 company that is set to become an essential part of tooling for Web3 businesses such as DAOs, platforms DeFi, Metaverse and Suite companies.”

What winter?

Despite plummeting crypto asset prices and skepticism about the real adoption of cryptocurrencies, society seems immune to the cold of the crypto winter.

According to data released by the company for the month of May, the number of crypto invoices paid increased by 81% month-over-month, bringing the total number to over 10,000 invoices paid to date. This represents approximately $10.5 million in crypto bills paid in the last month alone, up 91%, or around $5 million more than the previous month.

And while major crypto firms have recently made headlines for layoffs and rescinded job offers, Request Finance is actively looking to grow its ranks. He is hiring for various roles, including chief financial officer (CFO), software developers, as well as positions in business development and marketing.

The remote team currently includes over 20 blockchain engineers, UX designers, growth hackers and support staff working in 12 different countries across Asia and Europe. This includes Singapore, Indonesia, South KoreaGreat Britain, Netherlands, France, Greece, Germany, Portugal, Mauritius, Bulgariaand North Macedonia.

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(Marketing & PR) Ivan Hong[email protected]

(Partnerships & Integrations) Christophe Fonteneau[email protected]

SOURCE Application for funding

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Russian threat abruptly ends West’s ‘peace dividend’ https://cc87portedoc.com/russian-threat-abruptly-ends-wests-peace-dividend/ Tue, 07 Jun 2022 05:55:38 +0000 https://cc87portedoc.com/russian-threat-abruptly-ends-wests-peace-dividend/ “The prospect of a Soviet invasion of Europe is no longer a realistic threat,” George H.W. end of the cold war. The then president’s comments signaled the optimistic era of “peace dividends”. Western governments were eager to fund priorities other than security, such as health and education or lower taxes, in an era of expanding […]]]>

“The prospect of a Soviet invasion of Europe is no longer a realistic threat,” George H.W. end of the cold war.

The then president’s comments signaled the optimistic era of “peace dividends”. Western governments were eager to fund priorities other than security, such as health and education or lower taxes, in an era of expanding free markets, liberal democracy and economic globalization.

Three decades later, Russia’s assault on Ukraine has once again thrust defense spending onto the agenda. The United States provides billions of dollars in military assistance to Kyiv. Long complacent on defence, European countries, including Germany, have pledged to spend more.

“Now, whoomph, we are suddenly in a new era that is the opposite of globalization, where concerns of state and security trump free markets and economics,” said Nigel Gould. -Davies, Senior Fellow at the International Institute for Strategic Studies, a London thinker. -Tank.

But it is a redefinition of priorities that could harm Western living standards. As Kaja Kallas, Prime Minister of Estonia, a country bordering Russia, said: “I would like to invest all this money that we invest in defence, in education, but. . . we don’t really have an option.

Western military spending had already increased slightly in the mid-2010s, when Russia’s annexation of Crimea and support for separatist movements in eastern Ukraine in 2014, as well as fears over the rise of China, prompted the US, UK and EU to repair cut security budgets after the 2008 Financial Crisis.

Military spending has continued to rise slightly during the coronavirus pandemic, said Diego Lopes da Silva, senior researcher at the Stockholm International Peace Research Institute. But a complete reversal of the post-Cold War peace dividend would require an expenditure of an entirely different magnitude. It would also compete with other pressing needs, such as the transition to a green economy.

At the end of the 1980s, the United States spent 6% of its gross domestic product on defence. Last year it spent 3.5%, a difference of more than $520 billion. EU countries have further cut spending, in part because they have relied on the US security umbrella and because rules limit their budget deficits and ability to run up debt.

Last year, of NATO’s 30 member states, only the US, UK, France, Baltic states, Norway, Poland and Romania met the alliance’s target 2% of GDP devoted to defense spending. Germany, Europe’s largest economy, spent just 1.3%.

The invasion of Ukraine changed the calculus. Although the West is now much stronger militarily than Russia, unlike in the Cold War, Moscow’s unpredictability has prompted politicians to act.

Topping the list, according to analysts and defense officials, are more combat-ready NATO forces positioned in Russia’s border states, particularly the Baltics, as well as increased military readiness. forces and ammunition capacity.

A Ukrainian soldier carries a Javelin missile system
A Ukrainian soldier carries a Javelin missile system. The United States has sent about a third of its stockpile to Ukraine this year © Gleb Garanich/Reuters

The German army recently revealed that it lacks combat-ready equipment. Even the United States, which spends the most on defense, was taken aback: it sent a estimates that a third of its Javelin anti-tank missiles are destined for Ukraineand replenishing this stock will take years.

“Just-in-time logistics are great – until you’re in the middle of a battle,” said Andrew Graham, former head of the UK’s Defense Academy. “Peacetime accounting does not allow you to have reserves, but military doctrine requires it.”

European pledges to increase defense spending are now on the rise, though funding them is another matter: governments must help voters cope with soaring food and energy prices that have been exacerbated by the conflict in Ukraine.

Line graph of defense spending as a multiple of health spending showing that the

“Putin’s central thought is that the West will not get out of this and will eventually tire of supporting Ukraine,” a senior European intelligence official said.

Even in energy-rich Norway, which is benefiting from rising oil prices, there are fears that NATO’s 2% spending target could become out of reach in a booming economy.

In the UK, which has NATO’s second largest army, leading politicians are calling for defense budgets to reach 3% of GDP. “I have always said that as the threat changes, the funding should change,” said British Defense Secretary Ben Wallace. “It’s up to me to present a case on these threats.”

Germany is committed to meeting and even exceeding the NATO target. But the 100 billion euro defense fund it is setting up is enough to fund its spending shortfall for just two years, analysts say.

Relative volume circles showing military spending in 2021 (in billions of dollars).  The United States spends as much on its military as the following 10 countries combined G0934_22X

French President Emmanuel Macron has outlined plans to boost military spending, but the country’s top audit body has warned that to do so, Paris will have to skimp on other spending to meet budget deficit targets.

In Italy, Prime Minister Mario Draghi’s desire to increase defense spending has met with public resistance, with teachers threatening protests and public transport workers announcing strikes.

And in Spain, Prime Minister Pedro Sánchez’s aim to reach the 2% target by 2030 is facing strong opposition from his government’s coalition partner. Yolanda Díaz, the communist deputy prime minister, said the priority should be “research, education and health”.

The Netherlands is a rare example where the government seems to have seized the nettle. Last week he agreed to a series of spending increases hitting the 2% target by 2024, paid for by tax hikes, spending cuts elsewhere and government borrowing.

“2022 is the year the importance of defense spending was recognised,” said John Llewellyn, former head of international forecasting at the OECD and partner at Llewellyn Consulting. “But it’s not necessarily the year when the tax burden also had to increase to fund it.”

Additional reporting by Andy Bounds in Brussels, Guy Chazan in Berlin, Amy Kazmin in Rome, Richard Milne in Oslo, Sarah White in Paris and Peter Wise in Lisbon

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Sonia Rolland: first Miss France of African origin investigated on Omar Bongo’s apartment gift https://cc87portedoc.com/sonia-rolland-first-miss-france-of-african-origin-investigated-on-omar-bongos-apartment-gift/ Fri, 03 Jun 2022 13:53:00 +0000 https://cc87portedoc.com/sonia-rolland-first-miss-france-of-african-origin-investigated-on-omar-bongos-apartment-gift/ Rolland was the first African-born winner of the Miss France pageant in 2000, when she was 22. In 2003, the beauty queen received an apartment in Paris as a gift from Bongo, with real estate valued at around €800,000 (over $850,000), according to the French newspaper Le Parisien. The French national prosecutor in charge of […]]]>
Rolland was the first African-born winner of the Miss France pageant in 2000, when she was 22. In 2003, the beauty queen received an apartment in Paris as a gift from Bongo, with real estate valued at around €800,000 (over $850,000), according to the French newspaper Le Parisien.

The French national prosecutor in charge of financial crime (PNF) confirmed to CNN on Thursday that Rolland had been indicted for “receiving and embezzling public funds”.

No arrest warrant has been issued against Rolland, the prosecution said.

In a statement sent to CNN, his attorney Charles Morel said the luxury real estate acquired by Rolland from the Bongo family was unsolicited and only discovered after many years.

“She obviously admits to having been naive but denies any infringement,” Morel said, adding: “At no time was she aware of the origin of the funds or the financial arrangement.”

Morel also said Rolland had “no doubt that she will be exonerated at the end of the investigation.”

The Bongo family ruled Gabon for more than five decades.

Omar Bongo died of cardiac arrest while being treated for bowel cancer in 2009. He ruled the central African country for 42 years, becoming president in 1967, seven years after Gabon’s independence from France. It was quickly succeeded by his son Ali Bongo.

Omar Bongo ruled Gabon with an iron fist with his decades in power marred by spiral corruption allegations.

The acquisitions of the late president in France were the subject of a long criminal investigation by the French authorities, with some of his frozen accounts and seized assets.
In 2016, two houses belonging to Bongo Ali’s son were seized, one in Nice and the other in the capital, Paris, according at the Parisian.
Four of Omar Bongo’s children were indicted for corruption by French prosecutors – an allegation they all deny.
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