Adiscussions, thechapter related to the “Contract”, included in theCivil code (the “Code”) since 1804, has been entirely and substantially reformed by the 1 Ordinance dated10 February 2016 (the “Reform”).

On 25 November 2015 , the Commercial Court of Toulouse ordered the “pre-pack” sale of the assets of a major French tour operator, FRAM, to the leading online travel specialist, Karavel- Promovacances. The sale will lead to the creation of the biggest French tour operator and is one of the most important “pre-pack” sales to be completed following the 2014 reform of the French Insolvency Law.

March 2016 – This issue includes highlights on: Speed. Control.

Spring has officially arrived and, as we put the 2015 reporting season behind us, let me share some of my personal highlights from this month’s particularly broad range of topics. The newest issue of Insurance Sound Bytes provides some thoughts on how you can most effectively spend the time between now and the issue of a final insurance contract standard planning for its eventual implementation and to move your business forward.

We open this issue with our annual Insurance M&A Trends report, reflecting on the trends which unfolded in 2015 and their anticipated influence on activities in 2016. With this in mind we look further into the future and share our thinking on the impact of the Internet of Things and our latest research on the impact of self-driving cars.

Emmanuel Macron, Minister for the Economy, wants France to take its destiny into its own hands. An omnibus law bearing his name was enacted in August 2 in which over 300 2015, provisions set out the Government’s ambition of shaking up the regulatory environment in a number of key areas ranging from transport, Sunday trading, employee pensions and savings, inter- company loans, privatisation of State shareholdings to competition in the professional world.

On 11 February 2016, after a year of public consultation, the French Ordinance No. 2016-131 was published1. This Ordinance amends sections of the French Civil Code that govern the Law of Contracts and which remained largely untouched since 1804. The amendments should be effective as of 1 October 2016. Read more. (Subscription required.)

BEPS Update for Real Estate Funds Emerging Trends in Infrastructure - Trend 4: Asset management gets sophisticated Frontiers in Finance New leases standard - Introducing IFRS 16 Defending Against Unwanted Surprises: Bribery and Corruption Due Diligence M&A Outlook 2016 The Fintech 100 Global Innovators Report Audit Point of View: Gauging the impact of EU audit reform

Data management trends in capital markets: turning tides The Bank Statement Evolving Banking Regulation - Part Four Frontiers in Finance, December 2015 Banking the customer experience dividend Banking & Capital Markets: Top trends for M&A in 2016 New Leases Standard – Introducing IFRS 16 Defending Against Unwanted Surprises: Bribery and Corruption Due Diligence The Fintech 100 Global Innovators Report Audit Point of View: Gauging the impact of EU audit reform US: Impact and Influence: Raising awareness of diversity and inclusion in financial services

KPMG is delighted to announce the sponsorship of the 2016 Cayman Alternative Investment Summit, Alternative Investments: Supercharged. The world’s leading alternative investment managers, investors, economists, academics and regulators will gather in the Cayman Islands to discuss and debate the crucial elements to supercharge the alternative investment industry.