FIG Bulletin, 14 June 2019

The Belgian legislator has completed the implementation of AIFMD II through the Law of 22 July 2026, introducing significant regulatory changes for investment funds and their managers. Beyond the mandatory transposition, Belgium has introduced welcome flexibilities including expanded permitted activities for UCITS management companies and AIFMs, streamlined share class creation processes, and relaxed fit and proper requirements for certain fund managers.

The European Union's new CRD VI directive fundamentally reshapes how US banks can conduct corporate lending across EU Member States, introducing mandatory branch licensing requirements that eliminate...

Belgium has adopted its CRD VI transposition law, introducing a harmonised regime that requires non-EEA banking institutions to establish NBB-authorised branches when providing core banking services in Belgium. The new framework, which takes effect on 11 January 2027, marks a significant shift from Belgium's previous approach that generally permitted cross-border lending without local authorisation.

The European Union is implementing its most comprehensive overhaul of payment services regulation since PSD2, merging payment services and electronic money frameworks into a unified system through the new Payment Services Regulation and Third Payment Services Directive. This reform introduces mandatory fraud prevention measures, a harmonized authorization regime, and enhanced open banking requirements that will fundamentally reshape compliance obligations for financial institutions across the EEA.

A key point that market participants should be clear on from the outset: AIFMD II brings changes to the regulatory framework applicable to both Alternative Investment Funds (AIFs)...

In recent years, cases of payment fraud have seen a steady increase in Belgium, with the FSMA reporting that in 2024 it received 20% more reports of fraud-related activities...

On 17 April 2019, the EU legislator adopted Directive 2019/882 on the accessibility requirements for products and services (the "Accessibility Act") to establish common accessibility requirements for certain key products...

The legislative process to revise the PSD2 has reached its next stage: the Council published its position on the draft legislation.

The legislative process to revise the PSD2 has reached its next stage: the Council published its stance on the draft legislation.

Legal regulations. From sales and liquidation sales to special offers, coupons, contests and price comparisons, retailers must strike a balance between effective marketing and legal compliance.