The Financial Security Law of France (known in France

France

The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...

 as LSF or Loi de sécurité financière), signed by the Minister of Finance, Francis Mer

Francis Mer

Francis Mer is a French businessman, industrialist and politician. A former alumnus of the Ecole polytechnique, he was hired in 1970 by the Saint-Gobain group. In 1982, he became chairman of the board of Pont-à-Mousson SA...

, was adopted by the French Parliament on July 17, 2003 in order to strengthen the legal provisions relating to corporate governance. The LSF was published in OJ No. 177, August 2, 2003 (No. 2003-706 dated August 1, 2003).

Similar to the American Sarbanes-Oxley Act

Sarbanes-Oxley Act

The Sarbanes–Oxley Act of 2002 , also known as the 'Public Company Accounting Reform and Investor Protection Act' and 'Corporate and Auditing Accountability and Responsibility Act' and commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law enacted on July 30, 2002, which...

, the Financial Security Law of France rests mainly on:

• An increased responsibility of leaders
• A strengthening of internal control
• A reduction in the sources of conflicts of interest

See also

• Presentation on the Financial Security Law of France or LSF (loi de sécurité financière): http://www.xmcopartners.com/article-lsf.html