Thierry Philipponnat is an economist specialising in finance and on the link between economic theory and practice. He is the Chief Economist of Finance Watch. [1]
Thierry Philipponnat is an economist specialising in finance and on the link between economic theory and practice. He is the Chief Economist of Finance Watch. [1]
Educated in France and in the United States, he is a graduate of Institut d'Etudes Politiques de Paris and holds a master's degree (diplôme d’études approfondies) in economics. [2]
Philipponnat was a banker and a financial markets professional for twenty years. [3] In 2004, he became a member of the Executive Committees of Euronext and of the London Financial Futures and options Exchange (LIFFE).
Since 2006, he has been focusing on the study of the link between the economy, finance and society. He was a member of the Executive Board of Amnesty International France [archive] and became involved in different campaigns related to the impact of business on human rights. In 2009 and 2010, he represented Amnesty International with United Nations Secretary-General's Special representative on Business and Human Rights John Ruggie and with the European Commission on Corporate Social responsibility issues.
He founded Finance Watch [4] in April 2011 as an NGO specialised in financial regulation, and led the organisation until May 2014. [5] During his mandate, he intervened on many occasions in parliamentary hearings in Brussels (European Parliament), Paris, Berlin and London, on European financial regulations issues, on national regulations dealing with banking structure, on the financial crisis and on the Libor and Euribor [6] scandals and high frequency trading.
In April 2013, he received the Theodor Heuss medal [7] in Stuttgart on behalf of Finance Watch in recognition of the work done for the public interest. On 7 October 2013, he gave the inaugural lecture [8] of Université catholique de Louvain on the necessity to strike the right balance between private interests and public interest. [9]
He was then the director of the economic think tank Institut Friedland, [10] and a member of the French Sustainable Investment Forum, [11] an organisation that he chaired between June 2015 and June 2017. [12]
In 2019, he joined Finance Watch again as Head of Research and Advocacy, [13] where his research has since focused on the link between prudential regulation, financial stability and the economy, [14] [15] on the impact of climate change on financial stability, [16] [17] [18] on sustainable finance, [19] [20] on developing sustainable fiscal policies, [21] [22] and on designing a social taxonomy aimed at promoting an inclusive and socially sustainable economy.
He held a regulation mandate with French Prudential Supervision and Resolution Authority (Autorité de Contrôle Prudentiel et de Résolution) where he is a member of the Sanctions Committee, [23] the Scientific Committee [24] and the Climate and Sustainable Finance Commission. Between 2015 and 2022, Philipponnat also served as a regulator within the Autorité des marchés financiers (France) (French Financial Markets Authority) as a member of the Board [25] and chair of the Climate and Sustainable Finance Commission [26] [27] [28] as well as the Markets and Exchanges Consultative Commission. [29] In 2022, he resigned from the AMF in response to a former banking lobbyist and government official's appointment to the AMF chair. [30]
In January 2020 he became a member of the European Commission's Technical Expert Group on sustainable finance [31] and in October of the same year he was appointed as a member of the European Commission's Platform on sustainable finance [32] [33] and a member of the subgroup advising the European Commission on the extension of the EU Taxonomy of sustainable activities to social objectives.
In April 2021, the policy proposals made in his report Breaking the climate-finance doom loop were recognised by an international panel of 50 banks, NGOs, academics, regulators and investors as the most impactful and feasible to tackle the link between climate change and financial instability. [34]
A binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option. The former pays some fixed amount of cash if the option expires in-the-money while the latter pays the value of the underlying security. They are also called all-or-nothing options, digital options, and fixed return options (FROs).
Canadian securities regulation is managed through the laws and agencies established by Canada's 10 provincial and 3 territorial governments. Each province and territory has a securities commission or equivalent authority with its own provincial or territorial legislation.
Jean-Pierre Jouyet is a French civil servant. He was the ambassador of France to the United Kingdom between 2017 and 2019.
A financial planner or personal financial planner is a qualified financial advisor. Practicing in full service personal finance, they advise clients on investments, insurance, tax, retirement and estate planning.
The Autorité des marchés financiers (AMF) is the stock market regulator in France. The AMF is an independent public body that is responsible for safeguarding investments in financial instruments and in all other savings and investments, as well as maintaining orderly financial markets.
The Norbourg scandal is a major financial scandal that took place in 2005. The scandal involved the Montreal, Quebec based Norbourg Financial Group, a trust-fund company founded by Vincent Lacroix. He diverted money from a Norbourg trust fund for personal interests. Nearly 9,200 investors in Quebec lost millions of dollars. It is considered as one of the largest Canadian financial scandals in history and largest in Quebec.
The Financial Services Regulatory Authority of Ontario is a self-funding Crown agency which acts as the financial regulator for the Canadian province of Ontario. Established in 2016, FSRA officially succeeded its predecessor agencies – the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario – on June 8, 2019. The Financial Services Regulatory Authority of Ontario operates at arms-length from the Government of Ontario, and reports to the Legislative Assembly of Ontario through the Minister of Finance.
The Autorité des marchés financiers (AMF) is the organisation responsible for financial regulation in the Canadian province of Quebec. It regulates the province's financial markets and provides assistance to consumers of financial products and services. As provided for under its incorporating legislation, the AMF's mission is to enforce the laws governing the regulation of the financial sector, notably in the areas of insurance, securities, deposit institutions and the distribution of financial products and services.
Foreign exchange regulation is a form of financial regulation specifically aimed at the Forex market that is decentralized and operates with no central exchange or clearing house. Due to its decentralized and global nature, the foreign exchange market has been more prone to foreign exchange fraud and has been less regulated than other financial markets.
The French Prudential Supervision and Resolution Authority, formerly known as Prudential Supervision Authority, is an independent administrative authority under the aegis of the Bank of France, which exercises prudential supervision of regulated French financial firms such as banks and insurance companies. Since 2014, it has been France's national competent authority within European Banking Supervision.
Benoît Georges Cœuré is a French economist who has been serving as President of the Autorité de la concurence since 2022. He previously served as a member of the Executive Board of the European Central Bank from 2012 to 2019.
Finance Watch is a European non-governmental organization that conducts research and advocacy on financial regulation. Based in Brussels, the organization focuses on financial regulation in the European Union.
Banc De Binary was an Israeli financial firm with a history of regulatory issues on three continents. On January 9, 2017, the company announced that it would be closing due to negative press coverage and its tarnished reputation. The firm also surrendered its brokerage license with the Cyprus Securities and Exchange Commission (CySEC) removing its ability to legally trade in the European Union. Its 2014 revenues were reported as $100 million.
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The Financial Markets Authority of the West African Monetary Union is a supranational markets regulator established in 1996 and based in Abidjan, Ivory Coast. It is the single securities authority for the eight countries of the West African Monetary Union, namely Benin, Burkina Faso, Guinea Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo. It was known from 1996 to 2020 as the Regional Council for Public Savings and Financial Markets.
The Central African Financial Market Supervisory Commission is a supranational markets regulator established in 2019 and based in Libreville, Gabon. It is the single securities authority for the six countries of the Economic and Monetary Community of Central Africa, namely Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo.
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