FSMA consults on new rules on the marketing of financial products in Belgium

The Belgian Financial Services and Markets Authority (FSMA) is organising consultations on proposals for (i) a royal decree introducing information obligations in connection with the marketing of financial products to retail clients and (ii) a royal decree banning the distribution of certain financial products. The consultation period runs up to and including 17 February 2014.

The broad scope of the proposed regulations may have a significant impact on financial institutions that regularly engage in transactions with Belgian retail investors. Among other things, product manufacturers would have a heightened responsibility in relation to product disclosure in the context of the distribution of their products in Belgium through Belgian distributors.

The proposals constitute a further implementation of the Twin Peaks II Law, which entered into force on 9 September 2013 and strengthened the supervisory powers of the FSMA, especially in the field of consumer protection…

Click on the link below to read the rest of the Allen & Overy briefing.

Briefings from Allen & Overy

View more briefings from Allen & Overy

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

One Bishops Square
London
E1 6AD
UK
http://www.allenovery.com

Turnover (£m): 1,189.00
No. of lawyers: 2,304
Jurisdiction: UK
No. of offices: 11
No. of qualified lawyers: 273

Jobs