In the less than two years since Sapin II came into force, France has demonstrated its clear intention to become a key enforcer alongside the DOJ and the SFO, entering into five deferred prosecution agreements with companies and levying corporate fines that total over €554 million. In this guest article, Dechert partner Matthew Cowie, senior associate Karen Coppens and associate Marie Perrault examine the benefits and the difficulties of cooperating with French authorities and analyze issues faced by foreign advisors when working in a French environment. See “What SocGen and Legg Mason Say About French and American Enforcement” (Jul. 11, 2018).