The U.S. Treasury has imposed new measures to heighten pressure on Russia, targeting its financial and technological access as well as individuals and entities supporting its military efforts. In a separate move, the U.S. has also sanctioned four individuals associated with ISIS, in collaboration with Türkiye. Violating these sanctions can lead to severe legal implications, with strict restrictions on transactions involving the sanctioned individuals.

As we noted in our first article on sustainable finance, climate issues are now among the financial sector's concerns. To better gauge the stakes of this green (r)evolution, droitbancaire.be looks back in this article at the historical context that led to the regulatory changes and examines the European Taxonomy. Sustainable finance in Europe: a historical... Continue Reading →

Towards an awareness of sustainable finance? Until recently, climate issues were not among the financial sector's concerns. Today we are seeing a reversal. The terms sustainable finance, responsible investment and green finance are used by all players in the sector. Greenwashing or genuine awareness? (Greenwashing: the misleading use of arguments claiming good ecological practices in... Continue Reading →

The regulation of cryptocurrencies in Belgium and Europe is being prepared. Below is a brief account of some legal questions on cryptocurrencies and on the regulation of crypto-assets and other virtual currencies then under development (18 June 2021). I. Definitions: crypto-assets and cryptocurrencies The European Banking Authority (EBA) and the European Securities and Markets Authority... Continue Reading →

A bank had suspended payment operations for the benefit of a company whose name, "Persian", evoked Iran, a country under an international sanctions regime that banks must imperatively take into account. Embargoes, money laundering and terrorist financing: heavy sanctions and obligations that override others Banks increasingly face the risk of heavy fines under anti-money-laundering and... Continue Reading →

Gold has always attracted investors who value its relative stability, especially in turbulent markets. Offering an investment in physical gold raises an important question in financial law: does it meet the notion of an investment instrument under Belgian law? Is a prospectus or an information note required, or nothing? Different ways to invest in gold... Continue Reading →

In six days, the GameStop share went from USD 43.03 to USD 347.51. How? Through a short squeeze orchestrated by internet users. Under Belgian financial criminal law, can this be treated as market manipulation or market abuse? An unexpected explosion in the shares of a struggling company GameStop sells video games in stores, a struggling... Continue Reading →

A short (non-exhaustive) overview of the depositary's obligations under the UCITS V rules. Directive 2014/91 (UCITS V) provides that the depositary's liability cannot be contractually excluded or limited as regards the loss of instruments held in custody. The directive takes over the main measures of the AIFM directive, applicable to managers of alternative investment funds... Continue Reading →

Money laundering, terrorist financing and organised crime are seen as among the major problems that national authorities and international bodies seek to address in order to safeguard the soundness, integrity and stability of the financial system. Banks, recently in the spotlight following the FinCEN Files, are subject to heavy obligations. This article gives a practitioner’s... Continue Reading →

This article provides a broad outline of the Belgian legal aspects of one of the technologies mentioned by FATF: distance identification and video transmission allowing for remote identification

Through this page, you will find some information about Belgian Banking and finance law issues and legal practice in Belgium - 2019

This bill partly transposes Directive 2015/2366/EU on payment services in the internal market (PSD2). The Directive aims to strengthen competition and innovation, taking account of market developments, while giving consumers a high level of protection across the Union. The prudential part having already been transposed by the Act of 11 March 2018, the government has... Continue Reading →