Regulatory Alerts2017-09-29
Communication on prudential assessment of qualifying holdings in financial institutions
The Belgian Financial Services and Markets Authority (FSMA) issues this communication to incorporate European Joint Guidelines into its supervisory practice regarding the acquisition, increase, reduction, or disposal of qualifying holdings in regulated entities. It mandates that persons intending to cross specific voting rights or capital thresholds, such as 5%, 10%, 20%, 30%, or 50%, must submit prior notifications using designated forms to enable a prudential assessment of their suitability. The document details the formal notification procedures, the 60-working-day assessment period subject to suspension for additional information requests, and the five core criteria used to evaluate the reputation, financial soundness, and integrity of proposed acquirers.