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
Un des grands défis de nos jours consiste à rendre notre économie et donc les activités de nos entreprises plus durables, entre autres, en favorisant les investissements durables.
With up to 6 governments defaulting on their bonds this year, sovereign debt restructuring is topical. In this context so-called ‘vulture funds’ may be targeted by legislation capping the gains that they can obtain from litigation.
In recent years, insurance and reinsurance companies have taken an increasing interest in using the services of cloud service providers. This has led the Belgian National Bank to issue 15 recommendations to provide further guidance for institutions outsourcing their activities to cloud service providers to avoid undue operational risks.
Yesterday, 24 November 2020, the new law on basic banking services for businesses has been published in the Belgian Official Journal. This law voted on 22 October 2020 by the Belgian Parliament introduces a right to basic banking services for companies in Book VII of the Economic Law Code.
This summer has brought a major lawsuit in the video game industry with the “Apple v. Epic Games” case. Epic Games, the developer of the popular game Fortnite, introduced the possibility for its iOS users to buy V-Bucks (the virtual currency used in Fortnite) without using the AppStore integrated payment services.
At last, a European passport for crowdfunding! As from 10 November 2021, it will be possible for both new and existing crowdfunding platforms to obtain a licence allowing them to carry out their activities in all EU countries
The European Commission is eager to accelerate the EU’s digital transition and to ensure EU leadership in the realm of digital finance.
Recently a resolution on crowdfunding platforms has been adopted. This resolution introduces uniform rules at European level for European Crowdfunding Service Providers (ECSP). The aim is to address the obstacles to cross-border crowdfunding in order to foster cross-border business funding.
