European Union

Marie-Anne Frison-Roche intervenant aux Rencontres de la Haute Autorité de l’Audit (H2A), 2 juillet 2025

Conferences

🎥L’enjeu de la crédibilité des rapports de durabilité. Temps long, Simplicité et Stratégie (The credibility of sustainability reports. Time, Simplicity and Strategy), in 🧮Mise en œuvre de la directive CSRD. Premiers constats et perspectives (Implementation of the CSRD directive. Initial findings and outlook)

► Full Reference: M.-A. Frison-Roche, "L'enjeu de la crédibilité des rapports de durabilité. Temps long, Simplicité et Stratégie" (The credibility of sustainability reports. Time, Simplicity and Strategy), concluding speech, in Rencontres de la Haute Autorité de l'Audit (H2A), 2025,  Mise en œuvre de la directive CSRD. Premiers constats et perspectives (Annual Manifestation of the French Audit Regulatory Body Haute Autorité de l'Audit – H2A, Implementation of the CSRD directive. Initial findings and outlook),, 2 July 2025, La Défense, 1pm-6pm - This manifestation, which takes place face-to-face with simultaneous translation, begins with a presentation by Florence Peybernès, President of the French High Audit Authority ( Haute Autorité de l'Audit -H2A). It is followed by 3 round-table discussions: 🪑🪑🪑 Round table 1: Feedback on the first appointments 🪑🪑🪑 Round table 2: Cross-perspectives between preparers, verifiers and stakeholders 🪑🪑🪑 Round table 3: Perspectives for CSRD   It is following on from this that the more legal, more judicial perspective, in an articulation between Ex Ante and Ex Post, will take shape. - ► English summary of the speech, as prepared : n view of the information available at the time of preparation for this event, the considerable interest aroused by the CSRD, and also its contestation, which led to its modification, is it counter-intuitive in view of the technicality of the remarks, the flood of criticism and the number of pages one reads, the impression of the weight, constraints and uselessness of the thing which would deprive companies of their freedom, but what emerges rather is Simplicity. Why: because the sustainability report is only a tool and it is the goal it serves that needs to be considered (more generally that's how the judge looks at it), a tool that serves a European strategy (Green Deal, sustainable finance). It is this strategy that needs to be identified, and the company has a free hand in it. What we are looking at the company in its contribution to this goal that is simple, a contribution which it can, in information that is admittedly standardised, draw the outlines of Long-term and Strategy: Investors and stakeholders are not hostile to this approach: the key is the credibility of the information made available. Because Long-Term Thinking puts the future at the centre, and we don't know what that future will be. This essential element, which the courts have recalled in relation to Vigilance Obligation, must also be borne in mind, because it is first and foremost a question of providing information about the future. To express the Information they want to give on this subject, companies need to understand the Goal of the European Plan (where Simplicity lies), to adjust their own plan to it (under the more familiar term of "Strategy") the councils and lawyers need to help them with this; to blend their strategies with the European strategy, to rely on the authorities and the auditors so that what they say is credible. Credibility is at the heart of it, which is why auditors are at the heart of it. Because the only obligation they have is to say. Not to do. The CSRD should not be interpreted as imposing obligations on the companies subject to it to do things (such as the obligation of vigilance generates); the CSRD only imposes an obligation on them to say things. The CSRD imposes on them only an obligation to inform. While this may be onerous, standardised and certified, there is no obligation to do or disclose anything. Moreover, that is part of the company's own strategy, a strategy over which the company retains full control. In this respect, although standardised, the information is free and it is the credibility of the information that is crucial, but not participation in a plan whose terms would be written by the Authorities or the stakeholders. Therefore, after learning from each other, it seems that there are three fairly simple things that are sometimes buried under the complication of the details accumulated and the violence of the arguments exchanged around the European Omnibus package. These three points will be developed at the end of the round-tables.   The first is the simplicity of the breadcrumb trail of credible, accessible information imposed by the European Union to put the Green Deal into practice. This breadcrumb trail is held in particular by the various regulators. The second is the existence of a single, simple obligation on the part of the company: to say what it has done, is doing and plans to do, without being obliged to do anything in the European Action Plan (the CRSD does not forcibly enroll companies in the European action plan). This limitation to an obligation to say is essential. Its articulation with obligations to act, arising in particular from texts on Vigilance, or even identical terms, must not lead to confusion in qualifications. The third is the benefit that the company derives from the articulation of a double "singular strategy": that of the European Union, which wants to build its future, a strategy of the Union to which it is free to contribute or not to contribute, and that of its own strategy which is articulated with the first and in which green gives way to many other colours according to the will of the company.   ► English Summary of speech, as made with regard to what effectively was said during the 2 round tables:  During the event itself, I preferred to place myself rather in the direct continuation of what had been said.  In the fifteen minutes allotted, this was the reason for not proceeding in this way, but rather to highlight the fact that what has emerged, all these efforts, uncertainty, trial and error and goodwill to elaborate that went into drawing up the first sustainability reports, runs the risk of being erased because in retrospect, in 2 or 5 years' time, particularly if a lawsuit were be brought, we will have the impression that everything was self-evident, that we knew everything, that everything was clear and decided. And it's that future, which will be the future of the judge who will be called upon by a stakeholder, a regulator, a prosecutor, who always takes the past for granted, that we have to think about. We need to think in terms of evidence. Evidence of uncertainty. And always remember that the sustainability report is also a piece of evidence. Which will fuel liability claims, disputes over information, and so on. Plus encore, parce que le report de durabilité n'est qu'un outil, pour une stratégie, qui est une stratégie d'ensemble, où la CSRD n'est qu'un élément du puzzle, des éléments du rapport de durabilité peuvent être pris pour être utilisés plus tard pour alimenter d'autres documents et rapports, et d'autres litiges. Cela est notamment le cas du plan de vigilance, puisque la cartographie des risques est souvent commune au rapport de durabilité et au plan de vigilance, ce qui est logique puisque la CSRD et la CS3D se font miroir dans le grand plan d'action de l'Union que constitue le Pacte vert. Mais cela est amplifié par les entreprises, qui parfois confondent l'un et l'autre, dans la présentation même au sein du rapport de gestion. Il est pourtant essentielle de distinguer nettement l'obligation de dire (rapport de durabilité) et l'obligation de faire (plan de vigilance). L'ambiguïté des "engagements" accroît cela. Il est essentiel de veiller à un travail ex ante entre expert de la gestion, de la finance, de l'audit et du droit pour éviter que les points de contact ne se transforment en confusions, maintenant et /ou plus tard, confusions qui pourraient être préjudiciables à tous. - 🌐follow Marie-Anne Frison-Roche on LinkedIn 🌐follow Marie-Anne Frison-Roche on Instagram 🌐subscribe to the Newsletter MAFR Regulation, Compliance, Law 🌐subscribe to the Video Newsletter MAFR Surplomb 🌐subscribe to the Newsletter MaFR Droit & Art

Reports

WRIGHT, Georgina🕴🏻 & CHETCUTI, Louise🕴🏻

📓Extraterritorialité américaine : une arme à double tranchant

► Full Reference: G. Wright & L. Chetcuti, US Extraterritoriality: The Trump Card, Institut Montaigne, Explainer, December 2024, 62 p. - 📓read the Explainer - 📓read the English Summary of the Explainer - 📓read the presentation of this Explainer made on the Institut Montaigne's website - ► English Summary of the Explainer (done by the Authors): "Extraterritoriality — the application of national laws abroad — has grown exponentially over the last two decades. In a world characterized by strategic competition and weak international organizations, many countries are turning to law to secure their interests. None more than the United States. There are good and bad uses of US extraterritoriality. It has become a key tool to uphold international law and to safeguard the US’ interests. It has helped to sanction hostile states and combat corruption, money laundering, organized crime and terrorism. It has helped to reduce excessive risk-taking by companies and has been used to manage US-China systemic rivalry. However, the US has also been accused of using it as a way to assert market dominance. Could extraterritoriality be the next Trump Card the United States plays? During his first term, President Trump tightened export controls and expanded US laws to combat human rights abuses. At the same time, he rolled back banking regulations and asked his team to review US laws that created unnecessary red tape. Recently, he warned that he would remove any sanctions that weakened the dollar’s dominant position. The extent to which extraterritoriality is used to exert political pressure on EU countries is unclear. The EU must be better prepared. Companies that fail to comply with US rules risk huge fines, handover of sensitive data and exclusion from the US market. European companies often prefer to comply with US rules, rather than abide by European measures designed to block their application. This poses a direct challenge to the sovereignty of the EU and its member states. Institut Montaigne’s latest issue paper provides a framework for understanding all dimensions of US extraterritoriality and offers decision-makers and businesses a roadmap for an informed response. Understanding the implications of US extraterritoriality is crucial for governments and businesses, and should be integral to the EU's approach to economic security.". -

Reports

DUCHÂTEL, Mathieu🕴🏻 & WRIGHT, Georgina🕴🏻

📓China’s Extraterritoriality: A New Stage of Lawfare

► Full Reference: M. Duchâtel & G. Wright, China’s Extraterritoriality: A New Stage of Lawfare, Institut Montaigne, Explainer, December 2024, 72 p. - 📓read the Explainer - 📓read the English Summary of the Explainer - 📓read the presentation of this Explainer made on the Institut Montaigne's website - ► English Summary of the Explainer (done by the Authors): "Extraterritoriality – the application of national laws abroad – is gaining traction. In a world characterized by strategic competition and weakened international organizations, many countries are turning to law to secure their interests. This includes China. Extraterritoriality has expanded under Xi Jinping. China no longer sees it as a relic of "the century of humiliation" during which foreign powers imposed consular jurisdiction on Chinese soil. Today, Chinese extraterritoriality has three aims: to defend against foreign interference and sanctions; to legitimize China’s foreign policy actions and strengthen its global influence; and as a way to deploy its public security agenda abroad. China is also exploring a more offensive approach to extraterritoriality in the form of economic sanctions  – though it has yet to use them. A more offensive use will depend on the willingness of the top leadership to employ such tactics during moments of international tension; a stronger international role for the renminbi and lower overall exposure to the dollar; and the countermeasures that third-countries could take to respond to Chinese extraterritorial norms. The EU must act. Europeans need to understand the risks associated with Chinese extraterritoriality and plan accordingly. The EU should continue working with like-minded partners and be ready to deny access to the EU single market in case of abuse. Losing access to the single market would be deeply damaging to China’s interests and constitute a powerful deterrent for the EU. Institut Montaigne’s latest issue paper provides a framework for understanding all dimensions of Chinese extraterritoriality and offers decision-makers and businesses a roadmap for an informed response. Understanding the implications of Chinese extraterritoriality is crucial for governments and businesses, and should be integral to the EU's approach to economic security.". -

Organisation of events

🧮L’intelligence artificielle, nouveau champ de contentieux systémique (“Artificial intelligence, new field of systemic litigation”), in cycle de conférences-débats “Contentieux Systémique Émergent” (“Emerging Systemic Litigation”)

► Full Reference: L’intelligence artificielle, nouveau champ de Contentieux Systémique (Artificial intelligence, new field of Systemic Litigation), in cycle of conferences-debates "Contentieux Systémique Émergent" ("Emerging Systemic Litigation"), organised on the initiative of the Cour d'appel de Paris (Paris Cour of Appeal), with the Cour de cassation (French Court of cassation), the Cour d'appel de Versailles (Versailles Court of Appeal), the École nationale de la magistrature – ENM (French National School for the Judiciary) and the École de formation des barreaux du ressort de la Cour d'appel de Paris – EFB (Paris Bar School), under the scientific direction of Marie-Anne Frison-Roche, June 24, 2024, 11am-12.30pm, Cour d'appel de Paris, Cassin courtroom. - 🌐see on LinkedIn the report made of this event - ► Presentation of this conference-debate:  Artificial intelligence has enabled the creation of an algorithmic system. This develops its own logic, which is essentially technological in nature. It generates computing power based on the correlation of information to produce possible causalities and build probabilities that are sometimes likened to "predictions", with the mass processed eventually generating a qualitative change. This change is linked to the digital space itself, which by its very nature gives rise to systemic disputes and litigation, to which the conference-debate on 27 May 2024 was devoted. There are three ways in which this Emerging Systemic Litigation is involved, and it is important to anticipate these, as the litigation is either in its infancy or still to come, but will undoubtedly arise suddenly. Firstly, it is possible that the technological tool will make it possible to deal with certain cases where the technical nature of either the concepts or the requests, or the multitude of requests, however simple, require this ability to deal with the mass, which leads to an increase in both the mechanical power of algorithms and the greater presence of human beings, in particular through the increase in adversarial proceedings, pre-trial proceedings, mediation, etc. Secondly, in the face of this change linked to the digital environment, 'texts' have appeared to 'regulate' the use or the very invention of this or that algorithmic tool, texts of a very diverse nature, from the most soft to the hardest (this gradation between soft and hard law is the theme taken up in the conference-debate of 19 September 2024). These may be measures taken by the firms that produce the tools, those that use them, or those that disseminate them, with the people affected by the information being relatively active. This last point explains why systemic disputes are already underway, concerning the subjective rights that would be violated either by the very nature of artificial intelligence, in this case the rights of content producers, or the rights to privacy, or protection of other Monumental Goals. The systemic and extra-territorial dimension of these disputes has already been established. The third point is the role of Politics, since the European Union, through the texts currently being adopted, has established that the Goal is not only the sustainability of the technical system, the innovation market and European sovereignty, but also the primacy of people and individuals, through a method that is the Ex Ante ranking of risks. This conception is also contested. This methodological issue also applies to judges. This Emerging Systemic Litigation is and will be brought before various regulatory or supervisory Authorities, but also before the administrative and judiciary courts, in particular through Contract Law, Tort Law, Company Law, Labour Law, General Procedural Law, etc. The aim here is to measure and anticipate the way in which the systemic dimension of these disputes will be incorporated into future litigation. - 🧮Program of this manifestation:  Fourth conference-debate L’INTELLIGENCE ARTIFICIELLE, NOUVEAU CHAMP DE CONTENTIEUX SYSTÉMIQUE (ARTIFICIAL INTELLIGENCE, NEW FIELD OF SYSTEMIC LITIGATION) Paris Court of Appeal, Cassin courtroom Presentation and moderation by 🕴️Marie-Anne Frison-Roche, Professor of Regulatory & Compliance Law, Director of the Journal of Regulation & Compliance (JoRC) 🕰️11am.-11.10am. 🎤Les deux rencontres entre l'intelligence artificielle et le Contentieux Systémique (The two meetings between Artificial Intelligence and Systemic Litigation), by 🕴️Marie-Anne Frison-Roche, Professor of Regulatory & Compliance Law, Director of the Journal of Regulation & Compliance (JoRC) 🕰️11.10am-11.30am. 🎤Les premiers contentieux systémiques observables impliquant l’intelligence artificielle (The first observable Systemic Litigations involving artificial intelligence), by 🕴️Sonia Cissé, Partner, Linklaters Paris 🕰️11.30am-11.50am. 🎤L’influence des nouveaux textes et des textes à venir sur les contentieux systémiques émergents impliquant l’intelligence artificielle (The influence of new and forthcoming legislation on Emerging Systemic Litigation involving artificial intelligence), by 🕴️Emmanuel Netter, Professor of Law at Strasbourg University  🕰️11.50am-12.30pm. Debate - 🔴Registrations and information requests can be sent to: inscriptionscse@gmail.com 🔴For the attorneys, registrations have to be sent to the following address: https://evenium.events/cycle-de-conferences-contentieux-systemique-emergent/  ⚠️The conference-debates are held in person only, in the Cour d’appel de Paris (Paris Court of Appeal). - 🧮Read below the report made of this event by Marie-Anne Frison-Roche⤵️

Texts

🏛️Directive (EU) of 13 June 2024 on corporate sustainability due diligence (CS3D)

► Full Reference: Directive (EU) 2024/1760 of the European Parliament and of the Council of 13 June 2024 on corporate sustainability due diligence and amending Directive (EU) 2019/1937 and Regulation (EU) 2023/2859 (CS3D) - ► read the text of the directive - 📧see on LinkedIn the article published by Marie-Anne Frison-Roche in the Newsletter MAFR. Regulation, Compliance, Law, on the occasion of the publication of this directive in the Official Journal of the European Union -

Texts

Regulation (UE) 2024/1689 of 13 June 2024 laying down harmonised rules on artificial intelligence (Artificial Intelligence Act – IA Act)

► Full Reference: Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on artificial intelligence and amending Regulations (EC) No 300/2008, (EU) No 167/2013, (EU) No 168/2013, (EU) 2018/858, (EU) 2018/1139 and (EU) 2019/2144 and Directives 2014/90/EU, (EU) 2016/797 and (EU) 2020/1828 (Artificial Intelligence Act – "IA Act") - ► read the text -

Articles in a legal collective publication

📝La vigilance, pièce d’un puzzle européen (Vigilance, a piece of the European puzzle), in 📙La société vigilante

🌐follow Marie-Anne Frison-Roche on LinkedIn 🌐subscribe to the Newsletter MAFR Regulation, Compliance, Law - ► Full Reference: M.-A. Frison-Roche, "La vigilance, pièce d'un puzzle européen" ("Vigilance, a piece of the European puzzle"), in I.Grossi (ed.), La société vigilante, JCP E, No. 31-35, 3 août 2023, pp. 57-58. - 📙this article is the conclusion of this special issue. It is linked to the introductory article of this special issue: 📝Penser et manier la vigilance par ses buts monumentaux de compliance (Thinking and using Vigilance through its Compliance Monumental Goals) - 🧮the 2 articles follow on from the introductory and concluding speeches in the colloquium La Société vigilante, held at the University of Aix Marseille on 24 March 2023 - 🚧read the bilingual Working Paper which is the basis of this article, with additional developments, technical references and hyperlinks - ► Summary of the article: The contributions form a contrasted whole. It should not be concluded that some of them are correct and others false: through the reading that each one makes of the so-called French 2017 "Vigilance law," it is a vision of the world as it should be that each author proposes. Because Compliance Law, which Vigilance is a part, claims to draw the future, it is normal that each author should draw the present Law with a hand that bends in one direction or the other, following their conception of the future world. The whole contributions must be seen as a dialogue. A lively dialogue, with this French 2017 law receiving a lot of "glory" and a lot of "indignity" on both sides, from which it is necessary to emerge in order to find solutions, because it is a fundamental movement of which this law is only a gateway (I).  Whatever one thinks of it, it is all the branches of law that are used, affected, and transformed by Vigilance (II). To master this profound transformation, we must turn to Europe, to the great puzzle of texts recently adopted or in the process of being adopted in the European Union, of which Vigilance is the hallmark (III). - 📝read the article (in French) -

Texts

RÈGLEMENT (UE) 2023/1115, du 31 mai 2023, relatif à la mise à disposition sur le marché de l’Union et à l’exportation à partir de l’Union de certains produits de base et produits associés à la déforestation et à la dégradation des forêts, et abrogeant le règlement (UE) n° 995/2010

► Full Reference: Regulation (EU) 2023/1115 of the European Parliament and of the Council of 31 May 2023 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation and repealing Regulation (EU) N° 995/2010. - ► read the text -

Reports

📓Report of the Committee on Legal affairs of the European Parliament on the proposal for a directive of the European Parliament and of the Council on Corporate Sustainability Due Diligence and amending Directive (EU) 2019/1937

► Full Reference: Committee on Legal Affairs of the European Parliament, Report on the proposal for a directive of the European Parliament and of the Council on Corporate Sustainability Due Diligence and amending Directive (EU) 2019/1937, 8 May 2023. - 📓read the report -

Working papers

Working Paper

🚧Vigilance, a piece of the European puzzle

► Full reference: M.-A. Frison-Roche, Vigilance, a piece of the European puzzle, Working Paper, March 2023. - 🎤This Working Paper has been done as was made the  conclusion of the colloquiul La société vigilante ("Vigilant Company") at the Aix-Marseille University on March 24, 2023 (conference given in French)  - 📝It is also the basis of the article that introduces a special issue on La société vigilante - ► Summary of this Working Paper: The contributions form a contrasted whole. It should not be concluded that some of them are correct and others false: through the reading that each one makes of the so-called French 2017 "Vigilance law," it is a vision of the world as it should be that each author proposes. Because Compliance Law, which Vigilance is a part, claims to draw the future, it is normal that each author should draw the present Law with a hand that bends in one direction or the other, following their conception of the future world. The whole contributions must be seen as a dialogue. A lively dialogue, with this French 2017 law receiving a lot of "glory" and a lot of "indignity" on both sides, from which it is necessary to emerge in order to find solutions, because it is a fundamental movement of which this law is only a gateway (I).  Whatever one thinks of it, it is all the branches of law that are used, affected, and transformed by Vigilance (II). To master this profound transformation, we must turn to Europe, to the great puzzle of texts recently adopted or in the process of being adopted in the European Union, of which Vigilance is the hallmark (III). - 🔓read the Working Paper⤵️ - 🌐 follow Marie-Anne Frison-Roche on LinkedIn 🌐follow Marie-Anne Frison-Roche on Instagram 🌐subscribe to the Newsletter MAFR Regulation, Compliance, Law  🌐subscribe to the Video Newsletter MAFR Surplomb

Articles in The Journal of Regulation & Compliance « JoRC »

WENNERSTRÖM, Erik🕴️

📝Quelques réflexions sur la Compliance et la Cour européenne des droits de l’homme, in 🕴️M.-A. Frison-Roche (ed.), 📕La juridictionnalisation de la Compliance

► Full Reference: E. Wennerström, "Quelques réflexions sur la Compliance et la Cour européenne des droits de l'homme" ("Some Reflections on Compliance and the European Court of Human Rights"), in M.-A. Frison-Roche (ed.), La juridictionnalisation de la Compliance, coll. "Régulations & Compliance", Journal of Regulation & Compliance (JoRC) and Dalloz, 2023, pp. 479-489. - 📕read a general presentation of the book, La juridictionnalisation de la Compliance, in which this article is published - ► Summary of the article (done by the Journal of Regulation & Compliance): The development of the European Court of Human Rights case law, contributing to European integration, has incorporated the substantial concept of ​​"compliance" which goes beyond the idea of ​​legality with respect to which companies remain passive, and promotes legal orders as systems in interaction with another.  The author develops the spirit and scope of Protocol 15 by which both the principle of subsidiarity and the margins of appreciation the signatory States are organized, mechanisms governed by the principle of proportionality. Subsidiarity means that the States are in the best position to design the most adequate application of the Convention, the close links between the States allowing its effective application. In addition, the new opinion procedure which allows a national court to have during a case the non-binding opinion of the ECHR ensures better compliance with the objectives of the Convention. The case-law of the Court takes up this substantial requirement through its doctrine, in particular identified in the Bosphorus case, by stressing that the accession of a State to the European Union presumes its compliance when implementing EU law with the obligations arising from the ECHR, even if this presumption can be refuted if the protection is manifestly lacking, which was admitted in several cases, in particular concerning the right to an impartial tribunal in matters of economic regulation. The different legal orders are thus articulated.  The author concludes that the European Court of Human Rights, like the Court of Justice of the Union, contributes to the construction of Compliance Law in Europe, from an Ex Ante perspective favoring opinions rather than Ex Post sanctions and creating, in particular through the Bosphorus doctrine, elements of security and confidence for European integration around common values. -