The Commission des opération de bourse (COB) will soon complete its radical shake-up of securities regulation for the French markets. The reforms were inspired and influenced by the globalization of markets and increased volatility of share prices. The COB has to an extent been forced to follow both the markets and SEC’s lead. However, as Edward Kamman of Skadden, Arps, Slate, Meagher & Flom in Paris explains, the French reforms have much to teach other regulators in the fields of present disclosure and communications restrictions during offerings
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