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.
Once again, last year, digital finance has evolved at breakneck speed. Despite a health crisis that has put our legislators – both Belgian and European - under pressure, some new regulations and legislative proposals were published on anti-money laundering, crypto-currencies, cloud services for insurance companies,
On 25 November 2020, the new law on basic banking services for businesses has been published in the Belgian Official Journal. It introduces a right to basic banking services for companies that will enter into force on 1 May 2021 (see our previous news here).
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.
After the Brexit, UK financial service providers no longer benefit from their previous passporting rights. The recent Trade and Cooperation Agreement between the EU and the UK does not provide for an equivalence decision for financial services.
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In September 2020, the European Commission adopted the Digital Finance Package, including a digital finance strategy and legislative proposals on crypto-assets and digital resilience, for a competitive EU financial sector that gives consumers access to innovative financial products, while ensuring consumer protection and financial stability
