Proposals for a new, general regime for class actions in France were recently presented to the French National Assembly. If accepted, the new regime will replace the current, sector-based approach where class actions are governed by a variety of consumer, environment, public health and employment legislation. It will also expand substantially the list of organisations or bodies that could initiate a class action.
The proposals will likely be of interest to global financial institutions, in particular those operating/with a customer base in France, given the uptick in so-called class action tourism. This article by Martin Le Touzé and Alexandre Beaussier on our global class actions hub considers the new regime, including certain features which have prompted misgivings on the part of business. (The article was first published in French on 29 October 2020 in L’Agefi Hebdo.)
For further details on class actions, please see our class actions page.