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► Full Reference: M.-A. Frison-Roche, The puzzle of Institutional Compliance Law and Substantive Compliance Law: the example of the European Regulations of 31 May 2024 on AMLA and enterprises compliance obligations​, Working Paper, January 2025.

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🎤 This Working Paper was developed as a basis for the Overhang👁 video  on 11 January 2024 :

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🎬🎬🎬In the collection of the Overhangs👁 It falls into the News category.

►Watch the complete collection of the Overhangs👁 : click HERE

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► Summary of this Working Paper: Compliance Law is built on 2 legs, Institutions on the one hand and substantive rules on the other. For example in the United States, the 1934 Act established at the same time the prohibition and prevention of financial market abuse and the SEC. In Europe, in 2013, the Banking Union established institutions to build this Union and increased the obligations on banks.

This is perfectly illustrated by the 2 European Regulations of 31 May 2024, one creating the AMLA and the other reinforcing the compliance obligations of crucial economic operators, one text referring to the other.

Indeed, Institutional Compliance Law and Substantive Compliance Law are like 2 articulated legs. You have to know both and make them work together.

This is part of the "European puzzle", a positive expression which implies that, when assessing and interpreting a text, we should always bear in mind that it is only one element of a general picture, which is coloured by its Monumental Goal: in this case to obtain a European area where money laundering is efficiently prevented thanks to the action of the companies themselves under the supervision and support of a Supervisory Authority which coordinates the actions of the States.

If we consider only one element, we find everything 'complicated', whereas the overall picture is simple, because the Goal is simple and in Compliance Law, a branch of Teleological Law, everything is in the Monumental Goal.

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