Code AfepMedef says nothing about this case

Jean-Pierre Jouyet has lost nothing of its determination. There bread on the plate as the hot folders are not lacking: the governance of listed companies; the procedure for enforcement of the institution over which he presides; investigations on the financial information communicated to the market by several major French banks before the collapse of the sub-prime crisis and many others still. He explained in "Les Echos".

Told you disillusioned in the beginning of this year, eager to see records that take you to heart forward. Where are you

This is certainly not at the time where the MFA assumes more and more a political role, in the sense of the term, that I'll less interested me in issues of regulation, on the contrary. The agenda is loaded, this year: making progress of corporate governance, weigh in the negotiations European future, the creation of a regulatory agency to the revision of the MIF the European directive on markets in financial instruments, Editor's note, through the directive on alternative management, draw the consequences of the EADS case, better protect savers. As many exciting folders that I will address with determination. Those who doubt will be their costs!

Much has been said, and not always good, of the position taken by the AMF in the EADS folder...

The sanctions Committee is independent and sovereign in the area which is his own. Thus the is the Act of 2003. However, it is clear that this case has given an image blurred our work. This is why I asked it draws the lessons of this decision on several fronts: from the point of view of the consistency of the doctrine of the College and the sanctions Committee, from the point of view of the conduct of investigations, with the adoption of a Charter of investigators, from the point of view of the improvement of the repressive procedure, including the possibility for the AMF to appeal against the decisions of the commission of the penalties, and the introduction of a contradictory phase as soon as the investigation - to be determined precisely. It is also that finally the AMF with a power of transaction for concentrating its means of investigation on the big business .... The results of our deliberations will be ready for mid-March. But this approach is already supported by the public authorities.

There, after the muddle connected to the case of EADS, a shift of power from the MFA risk

I do not think so. Don't lose sight that the sanctions Committee rejected black on white critics of the defence on the instruction of this record. However, if you wanted to roll back the power of sanction of the authority, I do assumerais it not. It would be not only an error policy, but it would also be contrary to European rules. On the contrary, more that ever, the AMF must use all his powers to strengthen the protection of savers, extend our monitoring of markets, including derivatives and, of course, to promote a good corporate governance. On this point, I would like to say that I will not be the notary of the listed companies corporate governance code developed by the French Association of private companies, Editor's note Afep and the Medef.

What is your position on the case Proglio

Henri Proglio is a great leader of business. His appointment is a chance for EDF. Remains that the question of cumulation of mandates at the head of two listed companies can raise a conflict of interests, including whether there should be reconciliation. Code Afep-Medef says nothing about this case. And it is also on the boards of both companies to take their responsibility. In the meantime, the work of the MFA, is to ensure the right information to the market and that the minority are not harmed, if applicable.

The AMF has opened, in recent years, several investigations into the financial information supplied by the French banks before the burst of the "sub-prime" crisis Where are you

Most of these investigations are completed. The College held the majority of them. All I can say is that the discussions were facilitated. Grievances have been notified. I realize that the expectations of opinion on these issues but I disclose no premature information that may affect the smooth running of the proceedings.

Last record burning: Rusal, a Russian company very indebted and directed by Oleg Deripaska, that controversial also gifted industrialist. How do you process to validate his introduction to the stock exchange of Paris

There was nothing in the record which contravene the General regulations of the AMF. We have taken many precautions. It is the most complete prospectus never intended by the AMF (1,100 pages). We have demanded that all of the personal legal disputes of Oleg Deripaska appear clearly and in detail in the introduction prospectus. We caught the attention of investors on the magnitude of the debt of the group. In contrast to Hong Kong, which has not, we have the choice of a rating to professional compartment. Aware of the risks, we will ensure that the shares of Rusal are not marketed to investors.

Some argue that Rusal chose Paris because its less strict regulation of...

It is the first time that I hear that Paris is more flexible than London!