Belgian government plans to increase consumer protection
On 18 February 2013, the Belgian government approved a new package of measures (Twin Peaks II). The measures are aimed at increasing consumer protection and strengthening the powers of the Belgian financial supervisor (FSMA). The formal proposals will become publicly available at a later stage. The package includes a range of measures as outlined in this briefing.
The package includes the extension of the conduct of business rules for financial service providers to insurance companies and insurance intermediaries: These service providers will have to act in a loyal, fair and professional manner and provide correct and clear information which is not misleading. The new conduct of business rules should apply to all financial products and services. The same level of protection should be available for investors in fund-linked insurance products as to investors in other financial products. Everyone who has contact with the investors should have the necessary product knowledge. The measures are aimed at creating a level playing field: the same level of protection should apply regardless of whether a product is bought by an investor through a bank, insurance company or intermediary…
If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.