#White collar crime:
Nestlé Waters to stand trial in May for illegal waste dumps in the Vosges mountains
After a complaint from the AC Anti-corruption association, Nestlé Waters company will stand trial in May 2025 for illegally having dropped waste in the Vosges between 2021 and 2024, in particular 346,000 m³ at Contrexéville and 27,000 m³ at Saint-Ouen-lès-Parey. These illegal dumps have degraded the environment and affected public health, with microplastics contaminating the water. This lawsuit comes after other complaints of the use of prohibited techniques to purify its mineral waters, notably at Perrier. > Read article
#Ethics & Compliance:
Guinea : between pollution and suspicions of corruption, the tribulations of an American investment fund, owner of a bauxite mine
In Guinea, the American investment fund Orion Resource Partners, owner of the Bel Air Mining bauxite mine, is implicated in a pollution and corruption scandal. In June 2023, a barge containing bauxite and fuel oil capsized, causing massive pollution at sea. A whistleblower revealed serious failures in the maintenance of the barges and attempts at corruption to hush up the investigation. In July 2023, the Guinean Ministry of Mines imposed a penalty of almost 7 million euros, notably for pollution of marine waters. The Guinean authorities are continuing the investigation, while the whistleblower is calling for international prosecution. > Read article
#Duty of Vigilance and Human Rights:
Tensions in Brussels ahead of the Omnibus reform of green finance
On 5 and 6 February 2025, consultations were held to prepare for the presentation of the Omnibus package by the European Commission, scheduled for 26 February. The first consultation, private, aimed at meeting and exchanging views with “members of the ERT (European Round Table), a lobby group comprising some fifty of Europe’s largest companies.” The second consultation was public and concerned the simplification of the taxonomy, the sustainable reporting directive (CSRD), the duty of care (CS3D) and the carbon tax. Even before they took place, these consultations sparked debate as soon as they were announced, particularly concerning the choice of companies invited to take part and the large representation of the oil and gas industry at the expense of agri-food companies. > Read article
#Banking, financial and financial markets enforcement:
ACPR and AMF publish the conclusions of the working group on the certification of smart contracts and open a public consultation
The two independent administrative authorities have jointly drafted a report on the certification of smart contracts in decentralized finance. The report is the result of discussions held in working groups over the course of 2024, bringing together representatives from the crypto asset sector, technical experts and the public authorities. These findings are in line with European regulations and developments in decentralized finance. This report does not constitute recommendations or proposals for regulations, but recounts the exchanges and findings made during the working group sessions. The two authorities invite all players and specialists in the sector to contribute by commenting on the report until 10 March 2025. > Read article
#Dispute resolution & regulatory investigations:
European Commission opens investigation into online clothing retailer Shein
On Wednesday 5 February, the European Commission launched an investigation against targeting the company, Shein, suspected of “failing to comply with European consumer protection law” by failing to take sufficient action “against the sale of illegal products that do not comply with European standards”. The Chinese company, founded in 2012, had already been questioned by the Commission on this topic last June. The investigation is being carried out in coordination “with the Consumer Protection Cooperation (CPC) network.” If the suspicions are confirmed, the Chinese company will be sanctioned by the national competent authorities. At the end of October, the Commission also opened an investigation on similar grounds against the Chinese website Temu. > Read article
