.jpg "Europe pushes companies one step further towards sustainable investments"){kind=logo}
The European Commission has underlined the importance for companies to publish sufficient, reliable and comparable sustainability-related information to effectively direct capital towards sustainable investments.
As recently communicated in the Belgian media, Belgians with the American nationality risk losing their Belgian bank accounts because of the strict application of the U.S. FATCA-legislation. In application of the FATCA (Foreign Account Tax Compliance Act), which is also applicable in relation to U.S. citizens residing in Belgium, financial institutions outside the U.S. (such as Belgian banks), must provide specific data to the U.S. Tax Authorities (IRS) about the bank accounts of these American nationals
An Act dated 22 April 2019 amends the Banking Act of 25 April 2014 on the status and supervision of credit institutions and brokerage firms in order to introduce a banker's oath and a disciplinary regime.
In the world of Payments and FinTech, PSD2 has been a hot topic for several years now. Last year was already a crucial year with the transposition deadline of this directive scheduled for 13 January 2018.
Given the latest political developments in the UK, a hard Brexit is becoming a more tangible reality. Belgian financial institutions doing business in the UK will be severely affected in a no-deal scenario
he Anti-Money Laundering Act of 18 September 2017 (the “AML Act”) set up a central register at the Treasury Administration(the “UBO Register[1]”) to which all Belgian companies (and certain other legal entities) have to provide information on their Ultimate Beneficial Owner (“UBO”).
The law of 18 September 2017 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and limitations to the use of cash implements the Fourth European money laundering Directive 2015/849 into Belgian law.
This newsletter gives a brief overview of the practical aspects of a new obligation for Belgian entities to gather information about their ultimate beneficial owners (UBOs) and enter it in a central UBO register.
As a result of the implementation of the 4th (and already, in part, 5th) EU Anti-Money Laundering Directive(s) into Belgian law, companies incorporated in Belgium and other legal entities are required to identify
On 19 April 2018, the European Parliament adopted the proposal for the fifth Anti-money Laundering (AML) Directive, which will make a number of changes to the fourth AML Directive, implemented in Belgium by the Anti-money Laundering and Terrorist Financing Act and in effect since 16 October 2017.
