On 30 September 2015, the European Commission (the "Commission") presented its action plan (the "Action Plan") to establish a capital markets union ("CMU").

On January 20, the Council of Ministers adopted Council Regulation (EC) No. 139/2004 concerning the control of concentrations between undertakings (Regulation 139/2004). This new regulation, which replaces Regulation 4064/89, significantly increases the powers of the Commission to review and, if necessary, block transactions having a Community dimension, while at the same time bringing more flexibility to the review process. Regulation 139/2004 will enter into force on May 1, 2004.

Despite its overall high tax burden, Belgium was one of the few countries worldwide that didn't have a general capital gains tax for individuals. The introductions of a capital gains tax by the Arizona coalition...

The Court of Cassation recently delivered an important decision regarding the accounting and tax treatment of debt restructuring operations performed by way of a debt-equity swap.

With both the Argentinean and Venezuelan economies tackling high inflation, employers are taking novel steps to promote talent retention.

The Belgian FSMA issued a warning on February 1, 2023, regarding dilutive instruments, such as certain types of convertible bonds and equity lines. In France, similarly, the financial regulator...

In a previous e-zine, we discussed a Commission proposal (the Proposal) to accelerate the rollout of instant payments.

A major transformation is taking place in the financial markets as LIBOR and other IBORs (EURIBOR, EONIA, TIBOR, etc.), having dominated these markets for decades, will be replaced in 2021.

The Commission President Ursula von der Leyen's political guidelines for the next European Commission, along with the mission letter for Ms Maria Luís Albuquerque...

Developments in Belgian Payment Services Regulation

On 8 January 2012, an act implementing Directive 2009/109/EC (the "Directive") was adopted by the Belgian Parliament (the "Act"). The Act entered into force on 18 January 2012.

The material adverse change clause was recently introduced in Belgium by the Anglo-Saxon approach of negotiating corporate and financial transactions.

The Law broadens the scope of application of the market abuse regime regarding persons, places and conduct, in line with the Market Abuse Directive and the Market Abuse Regulation.

A number of EU-27 Member States have been accelerating their efforts to finalize national "emergency" Brexit legislative (NEBLs) measures in the event of a ‘No Deal' or any other form of Brexit ...

The Situation: A draft law designed to substantially reform the Belgian Companies Code was submitted to the Belgian Parliament for review ("New Companies Code") on June 4, 2018...