First meeting of the Haut Comité Juridique de la Place Financière (HCJP) [Legal High Advisory Committee for Financial Markets] of Paris, created by the AMF (Autorité des Marchés Financiers – Financial Services Authority] and the Banque de France [Bank of France]

The inaugural meeting of the Haut Comité Juridique de la Place Financière [Legal High Advisory Committee for the Financial Markets] of Paris was held on 28 January 2015. Chaired by Michel Prada, Inspecteur Général des Finances Honoraire [Honorary General Inspector of Finance], direction of its staff was entrusted to Gérard Gardella, former Judge and previously Société Générale Group's General Counsel.

The HCJP's objectives are as follows:
- propose reform projects designed to promote the competitiveness of the Paris financial markets,
- assist and support governmental authorities in connection with negotiation of European and international laws and regulations,
- strengthen legal security by providing responses to legal questions relating to all financial players, both public and private.

The Banque de France [Bank of France] and the AMF have actively participated in the creation of the High Committee, the creation of which was decided in connection with the AMF's 2013-2016 strategic plan.

Gérard Rameix, Chairman of the AMF said: "I am happy about the creation of this Commission, which will facilitate coordination on regulatory issues and legal work of an academic character, useful to regulators".

Robert Ophèle, Sous-Gouverneur [Deputy-Governor] of the Bank of France said: "This Committee will conduct its work completely independently and will enable regulators to have a forum where different ideas in the legal area can be debated".

Upon the conclusion of the first meeting, Michel Prada emphasized: "The Legal High Advisory Committee for Financial Markets of Paris will deal as a matter of priority, using an interdisciplinary approach, with subjects helping to promote the competitiveness of the Paris financial markets. It was decided to commence, without waiting for a debate, to develop a position on securities law. It will promptly consult the economic players about projects that might help it improve our competitiveness in the legal area".

Organized as a not-for-profit association under the Law of 1901, it consists of the following:

- Chairman: Michel PRADA
- General Secretary: Gérard GARDELLA
- Ex oficio members: Autorité des Marchés Financiers [Financial Services Authority], Banque de France [Bank of France]
- Expert members:
• Andrew A. BERNSTEIN, Partner, Cleary Gottlieb
• Jean-François BIARD, Consultant, former investment banker
• Dominique BORDE, Partner, Paul Hastings
• Alban CAILLEMER du FERRAGE, Partner, Jones Day
• Jacques DELMAS-MARSALET, Honorary State Advisor (Conseiller d'État Honoraire)
• France DRUMMOND, Professor, Université Paris II
• Claire FAVRE, Honorary Presiding Judge of the Chambre Commerciale [Commercial Section] of the Cour de Cassation, Vice-President of the Autorité de la Concurrence [Competition Commission]
• Didier MARTIN, Partner, Bredin Prat
• Alain PIETRANCOSTA, Professor Université Paris I
• Stéphane PUEL, Partner, Gide Loyrette Nouel
• Christian SCHRICKE, Conseiller d'État Honoraire, Délégué Général [Honorary State Counselor, Vice Chairman] of ANSA
• Hubert De VAUPLANE, Partner, Kramer Levin.

The Direction Générale du Trésor [French Treasury], Autorité de Contrôle Prudentiel et de Résolution (ACPR – bank regulatory authority), as well as the Chancellerie [Ministry of Justice] will be participating in Committee meetings. 

Press contacts:
AMF Communication Directorate - Florence Gaubert - Tel: +33 (0)1 5345 6034
Press Office, Banque de France - Tel: +33 (0)1 4292 3900
ACPR Communication Department - Dominique Poggi - Tel: +33 (0)1 4995 4259