Regulatory Alerts1998-01-19
Added · Updated
Circular D4/EB/5: Particular Mechanisms (97/4 and 97/5)
The document transmits two circulars to stock exchange auditors: Circular 97/4 updates the non-exhaustive list of practices constituting particular mechanisms under Article 104 of the Law of 6 April 1995, originally issued by the Brussels Stock Exchange in 1976; Circular 97/5 requires investment firms to implement a tax prevention policy and periodically verify its application and adherence to integrity and deontology rules. Specifically, stock exchange companies lacking an internal audit service must entrust this periodic control to their statutory auditor. These requirements apply to investment firms and stock exchange companies under the supervision of the Banking and Financial Commission.
BANKING AND FINANCIAL COMMISSION Prudential Supervision of Investment Firms Brussels, 19 January 1998. D4/EB/5 CIRCULAR LETTER TO STATUTORY AUDITORS OF STOCK EXCHANGE COMPANIES
Madam, Sir,
We are forwarding to you in the annex two circulars sent to investment firms. The first (97/4) is an update of the document addressed to stockbrokers in 1976 by the Brussels Stock Exchange, reproducing a non-exhaustive enumeration of practices considered as constituting a particular mechanism within the meaning of Article 104 of the Law of 6 April 1995.
In the second (97/5), the Banking and Financial Commission requests that investment firms put in place a prevention policy in the tax field and that they periodically ensure the proper application of the provisions provided for by this policy and compliance with the rules that the company imposes on itself regarding integrity and deontology. We particularly draw your attention to the request made to stock exchange companies that do not have an internal audit service, to entrust this periodic control to their statutory auditor.
Please accept, Madam, Sir, the expression of our distinguished sentiments.
M. CARDON de LICHTBUER, Director Louise Avenue 99, 1050 Brussels Phone: +32(2)535.22.11 - Fax: +32(2)535.23.08
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