Financieel recht


Anti-Vulture Legislation: the Belgian Attempt – or How Not to Do It

Anti-Vulture Legislation: the Belgian Attempt – or How Not to Do It
03/12/2020

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. 

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Deadline approaching for implementing recommendations on outsourcing to cloud service providers

Deadline approaching for implementing recommendations on outsourcing to cloud service providers
03/12/2020

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.

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New law on basic banking services for businesses in Belgium

New law on basic banking services for businesses in Belgium
25/11/2020

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.

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 Payments in the video game industry: Regulatory Status in Belgium

Payments in the video game industry: Regulatory Status in Belgium
20/11/2020

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.

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A European passport for crowdfunding

A European passport for crowdfunding
17/11/2020

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

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The EU digital finance package: unwrapping digitally fit rules for financial services

The EU digital finance package: unwrapping digitally fit rules for financial services
16/11/2020

The European Commission is eager to accelerate the EU’s digital transition and to ensure EU leadership in the realm of digital finance.

 

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Crowdfunding also regulated at European level

Crowdfunding also regulated at European level
13/11/2020

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.

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EU Crowdfunding Regulation adopted by European Parliament

EU Crowdfunding Regulation adopted by European Parliament
12/11/2020

The European Parliament has adopted the Regulation on European Crowdfunding Service Providers for Business, which shall enable crowdfunding platforms to offer their services across the EU.

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De preventieve witwaswetgeving: meer, breder en hoger

De preventieve witwaswetgeving: meer, breder en hoger
18/09/2020

Sinds 15 augustus 2020 zijn verschillende wijzigingen aan de preventieve witwaswetgeving van toepassing. Deze wijzigingen verdienen de nodige aandacht: er gelden voortaan meer verplichtingen, waarbij een bredere groep personen aan de regeling is onderworpen en er zijn hogere straffen bij miskenning van de regels.

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Online payment authentication requirements further strengthened from 22 September 2020

Online payment authentication requirements further strengthened from 22 September 2020
14/09/2020

As part of the second European Payment Services Directive (i.e. Directive (EU) 2015/2366 of 25 November 2015 on payment services in the internal market) (PSD2), which entered into force in 2019 and replaced the Payment Services Directive (PSD), new rules have been developed to provide additional protection for customers 

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