Bank -en Krediet 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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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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A regulator’s perspective: cloud outsourcing in the insurance sector

A regulator’s perspective: cloud outsourcing in the insurance sector
28/10/2020

The National Bank of Belgium (NBB) has issued fifteen recommendations for cloud service providers in the insurance sector, which will apply as from 1 January 2021.

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Mrs. Anne Fontaine

Benelux Regulators to Apply EIOPA Guidelines on Outsourcing to Cloud Service Providers by Insurance and Reinsurance Undertakings
14/08/2020

On 24 April 2020, the European Insurance and Occupational Pensions Authority (EIOPA) issued new guidelines on outsourcing to cloud service providers (the "Guidelines") which apply to insurance and reinsurance undertakings

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Mr. Michaël Fernandez-Bertier

La Belgique transpose la 5ème Directive anti-blanchiment… et assujettit le secteur du football professionnel !
17/07/2020

Ce jeudi 16 juillet 2020, la Chambre des représentants a entériné le projet de loi « portant des dispositions diverses relatives à la prévention du blanchiment de capitaux et du financement du terrorisme et à la limitation de l’utilisation des espèces » (Doc. parl. n° 55-1324/009).

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ESMA consults on new rules for Cloud arrangements

ESMA consults on new rules for Cloud arrangements
17/06/2020

On 3 June 2020, ESMA published a Consultation Paper (“CP” which is available here) on draft guidelines for outsourcing to cloud service providers.

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Update on B2B loan payment deferral and unilateral termination

Update on B2B loan payment deferral and unilateral termination
30/04/2020

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Covid-19 & Banks: Emergency Response and Sound Management

Covid-19 & Banks: Emergency Response and Sound Management
31/03/2020

The health crisis caused by Covid-19 and the economic and social consequences it has for banks oblige these financial institutions to inform their regulator of the specific measures, both internal and external, that they implement to address the situation.

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