Any views expressed herein are those of the author(s) and not necessarily those of the law firm’s clients.The Toubon Law (full name: law 94-665 of 4 August 1994 relating to usage of the French language) is a law of the French government mandating the use of the French language in official government publications, in all advertisements, in all workplaces, in commercial contracts, in some other commercial communication contexts, in all government-financed schools, and some other contexts.

However, the law mandates the use of the French language in all broadcast audiovisual programs, with exceptions for musical works and "original version" films.

The law takes its common name from Jacques Toubon, who was Minister of Culture when it was passed, and who proposed the law to the National Assembly of France.

The law does not concern private, non-commercial communications, such as non-commercial web publications by private bodies.

It does not concern books, films, public speeches, and other forms of communications not constituting commercial activity.

The California Government Code has been amended to require additional public disclosure about investments by state or local California public pension plans (the “California Plans”).

The amendment, which is the most significant amendment to the public disclosure of information about California Plan investments since 2005, will require that a California Plan disclose certain fee and expense information about its investments in any private fund that is an alternative investment vehicle.

The law includes an exception that "these provisions do not apply to documents coming from abroad", but this exception has been interpreted narrowly by the appellate courts.

For example, in 2006 a French subsidiary of a US company was given a hefty fine for delivering certain highly technical documents and software interfaces to its employees in the English language only, and this was upheld by the appellate court.

The term “related parties” is used in items (1) through (4), above, and is defined broadly to include: A couple of other states are currently considering legislation to increase the transparency of the fees and expenses paid by the public pension plans in that state, while additional states have considered similar legislation that did not pass.

[3] In addition, earlier this year, the Institutional Limited Partners Association released a fee reporting template, which was adopted to promote more uniform reporting practices in the private equity industry.

The disclosure requirements specifically address fees and expenses that are paid to related parties, such as operational partners, senior advisors and other types of consultants.