Regulatory Alerts2002-07-10
Added · Updated
Circular D4/EB/2002/2 on Compensation of Transactions on Euronext
The Belgian Banking and Financial Commission requires stockbrokers outsourcing execution or compensation services to maintain full oversight, manage risks, and ensure service continuity and investor protection. Stockbrokers must adhere to strict organizational standards, including written agreements, segregation of duties, and due diligence on counterparties, while fully complying with existing regulations on client fund placement and own-funds requirements. Specifically, client funds held with foreign correspondents in euros can no longer be classified as reinvested client funds, and risk concentration limits must be strictly observed to prevent operational disruptions.
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