BELGIUM: FSMA Consultation on marketing of financial products to retail customers

Tuesday February 4 2014

The Financial Services and Markets Authority (FSMA) of Belgium has launched a consultation on a draft Royal Decree imposing certain obligations in respect of information on the marketing of financial products to retail customers.

The proposed Royal Decree aims to strengthen the protection of retail customers in the marketing of financial products. The goal is to have the same rules for all types of financial products (securities, insurance, bank accounts, etc.).

Amongst other things, the proposed Decree requires the delivery of an information sheet to retail customers in the marketing of financial products (short document, standardized and easy to understand). In addition, it regulates the advertising of financial products (principles, minimum information, rule for the presentation of historical returns, simulated and future examples, comparisons between products, etc.).

Comments are invited from interested parties before 17th February 2014.

Click on the above link for the draft Royal Decree.