Position of the Rules for Growth Institute on the next reform of private business law

by Sophie Vermeille, founder of the Rules for Growth Institute and Benjamin Fremaux

France is engaged in a major competition to be able to take advantage of Brexit and the weakening of the London financial center. Strengthening what our Anglo-Saxon friends call “the Rule of Law” is the cornerstone of financial market development and, more generally, of a country’s prosperity. France has yet to prove that it speaks the same language as investors.

France must, in this perspective, substantially modify all mechanisms governing the powers of managers, in other words “the governance of its companies.” France must, in this regard, raise the level of investor protection, since codes of good governance, generated by issuers in France, have shown their inadequacy.