Alternative investment fund managers (“AIFMs”) that wish to examine to what extent investors are open to a certain investment idea or investment strategy were until recently faced with a divergent approach to pre-marketing in the various national legal systems within the European Union.
"Phishing cost Belgians 34 million euros", "FPS Finance warns for fraudulent mails: 'Do not react'", "Test Aankoop/Test Achat also warns for phishing messages in the name of bpost and FPS Finance". These headlines are probably familiar to you. Criminals discovered that it is much easier and safer for them to break in digitally than to go in someone’s house with a crowbar. But the question arises as to who is liable for the damage incurred if one falls for it unsuspectingly.
Deferred payment methods, often called “Buy Now Pay Later (“BNPL”) solutions”, allow customers to acquire goods immediately while spreading the payment of the purchase price over time.
On 19 April 2021, a draft law on diverse financial provisions (the “Draft Law”) was published. The Draft Law was adopted by the Parliament at the end of May. Amongst other things, it amends the Belgian AIFM Law to integrate the ELTIF fund status
The Commission has released a bumper package of sustainable finance legislation. We have the more or less final version of the Taxonomy screening criteria for climate change, the proposal for the new Corporate Sustainability Reporting Directive
On 9 April 2021, the Commission de Surveillance du Secteur Financier (the « CSSF »), the Luxembourg financial supervisory authority, adopted a circular 20/769 on governance and security requirements for supervised entities to perform tasks or activities through telework (the “Circular”)
In addressing the severe economic impact of the COVID-19 pandemic, the European legislator amended the existing Prospectus Regulation and introduced the new EU Recovery Prospectus.
In connection with the entry into force on 10 March 2021 of the European regulation on sustainability-related disclosures in the financial services sector, the Sustainable Finance Disclosure Regulation ("SFDR"), the Belgian regulator (“FSMA”) has set out a number of practical guidelines
As of 1 January 2021, UK regulated entities are no longer allowed to make use of the European Union (EU) passport mechanism which allowed them to offer financial services across the EU on the basis of free provision of services or by establishing a local branch.
On 26 January this year, the FSMA published a communication on the "suitability statement". This communication is of relevance for regulated firms providing investment advice to retail clients as well as for firms managing retail client portfolios.
