De facto

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Law - company law - regulation.

Existing as a matter of practical reality, whether or not supported by a legally enforceable act or other formality.

Particularly relating to the exercise of powers, control or influence.

For example, a de factor director is someone who acts as a director without having been formally appointed as one.

De facto capital market integration exceeds de jure
"[There is a] substantial gap between de facto and de jure measures of financial openness and integration.
In short, the fact that numerous developing countries impose significant legal controls on the international movement of capital does not mean that such controls are particularly effective in curbing international capital flows.
Actual financial integration – as measured by capital flows and cross-border financial asset holdings – may significantly exceed the level implied by corresponding legal controls."
Asian capital market integration - the Treasurer's Wiki

See also