Corporate Governance & Regulation: A Hidden Criminal Agenda for the FSA and its French Counterpart, the AMF?

Abstract

As the title indicates, the paper focuses on whether the FSA imposes sanctions which are of a criminal nature but which are not presented as such. At the origin of the question are human rights issues. If the FSA were not to recognize as imposing criminal sanctions, the proceedings should be civil. In terms of rights for the accused, it would mean a lesser standard of proof, a different burden of proof and different standards for the rights of defense. However, are the sanctions really civil and not criminal in nature?

Keywords: Criminal law, sanction, human rights, ECHR

JEL Classification: K14, K20, K40, K42, K10