ARTICLE · 22 SEPTEMBER 2011

The Year to Date: Significant Developments In Banking & Financial Law

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1 April 2011 will go down in collective memory as the date of the reorganisation of the supervisory structure for the financial sector in Belgium, prompted by the 2008 financial crisis.

NetherlandsFinance and Banking

Anne Fontaine

Marie-Laure De Leener

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1 April 2011 will go down in collective memory as the date of the reorganisation of the supervisory structure for the financial sector in Belgium, prompted by the 2008 financial crisis. The National Bank of Belgium is now entrusted with the supervision of Belgian financial institutions. Although it will take some time to get used to the new acronym FSMA, the newly organised Financial Services and Markets Authority has not wasted any time this year, quickly imposing an extended ban on short selling and a moratorium on the distribution of complex structured products. Finally, the European Commission has also been active this year, introducing several proposals for new financial legislation.

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