Regulatory Alerts2002-04-17
Added · Updated
Circular D4/EB/2002/1 on the Sale of Branch 23 Products by Investment Firms
Investment firms and placement advisors in Belgium must obtain specific authorization from the Banking, Financial and Insurance Commission (CBF) to sell or advise on Branch 23 insurance products. This authorization requires demonstrating adequate organizational structures, including adapted client information policies, specific administrative and accounting records, and the application of 'know-your-customer' procedures. The CBF conducts parallel oversight with the Office for the Control of Insurance (OCA), requiring mutual notification of applications and registrations.