Droit bancaire


Virtual Currencies: No longer a Game without Frontiers

Virtual Currencies: No longer a Game without Frontiers
13/07/2018

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.

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Financial Sector & Services Supervision:  Still Evolving as Quickly as 15 Years Ago

Financial Sector & Services Supervision: Still Evolving as Quickly as 15 Years Ago
21/06/2018

The Act of 2 August 2002 on the supervision of the financial sector and financial services (“Loi relative à la surveillance du secteur financier et aux services financiers/ Wet betreffende het toezicht op de financiële sector en de financiële diensten”) (the "Financial Sector Supervisory Act”) was the result of many years of reflection and negotiation within and by the financial sector.

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Mrs. Saskia Lust

National UBO registers publicly accessible as from end 2019
28/12/2017

The European Parliament and the European Council have reached a political agreement on the fifth anti-money laundering Directive. Several measures relate to the ultimate beneficial owner register (hereafter “UBO register”)

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Mr. Wim Panis
Mr. Jan Bogaert

Important changes to Belgian REITs legislation
10/11/2017

Today(the 9th of November 2017), the Belgian Act amending the Act of 12 May 2014 on regulated real estate companies (the “Reviewed REITs Act”) was published in the Belgian Official Journal.

The complete text of the Reviewed REITs Act can be found here

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Transparency Register – Overview of Foreign Reporting Requirements

Transparency Register – Overview of Foreign Reporting Requirements
30/10/2017

Among other measures designed to combat money laundering and terrorist financing, the 4th Money Laundering Directive requires the EU member states to set up registers of the ultimate beneficial owners of legal entities. 

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Indemnité De Remploi: La Cour De Cassation Se Prononce

Indemnité De Remploi: La Cour De Cassation Se Prononce
17/06/2017

Dans un arrêt du 24 novembre 2016, la Cour de cassation s'est prononcée sur la limitation de l'indemnité de remploi que les banques peuvent prélever en cas de remboursement anticipé d'un prêt. 

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The right to data portability and bank account information

The right to data portability and bank account information
16/02/2017

In evolving to a Single Digital Market, the use of consumer data becomes more and more important for service providers. With regard to financial institutions, exploiting payment data is of particular interest, not only to reduce costs and improve product quality, but also to offer new and innovative financial services and, in general, an increased customer experience. The access to and the control over such data is therefore crucial.

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The UBO-register under the fourth Anti-Money Laundering Directive: a delicate balance between transparency and privacy

The UBO-register under the fourth Anti-Money Laundering Directive: a delicate balance between transparency and privacy
29/07/2016

Most EU Member States currently recognise a necessary degree of privacy and discretion regarding the ownership of family businesses or family trusts. In Belgium, shareholdings in a company only need to be registered in a company-held register, which is not accessible to third-parties. Moreover, for tax purposes, a withholding tax on dividends distributed applies that relieves shareholders from having to declare this income to the Belgian tax authorities.

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Mrs. Régine Feltkamp

Deposit guarantee schemes in the spotlight again
18/07/2016

Recent events have put deposit guarantee schemes once again on the forefront of the discussions related to the banking sector.

In Belgium, the failure of Optima Bank raised the question – unanswered as of yet – whether the bank’s own assets would suffice to redeem the bank’s deposit holders or whether intervention of a deposit guarantee scheme would be necessary (see e.g. http://trends.knack.be/economie/bedrijven/slechts-enkele-klanten-kunnen-geld-verliezen-aan-optima-debacle/article-normal-717677.html and http://www.spaargids.be/sparen/algemeen-nieuws/garantiefonds-kan-direct-3-miljard-euro-inzetten-voor-opvang-optima.html).

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Belgian regulator rules out Belgian consumer credit receivables from the international securitization market

Belgian regulator rules out Belgian consumer credit receivables from the international securitization market
29/03/2016

Pursuant to Belgian law, Belgian consumer credit receivables may only be purchased by the following regulated entities: (1) registered consumer credit lenders; (2) the National Bank of Belgium; (3) the Belgian Deposit and Financial Instrument Protection Fund; (4) credit insurers; (5) registered debt collectors; and (6) certain undertakings for collective investments.

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