Circular NBB_2018_25 / Suitability of directors, members of the management committee, responsible persons of independent control functions and senior managers of financial institutions

NBB_2018_25 – 18 September 2018 Circular – P. 1/5 boulevard de Berlaimont 14 – BE-1000 Brussels Phone +32 2 221 24 33 – fax + 32 2 221 31 04 Company number: 0203.201.340 RPM (Trade Register) Brussels www.nbb.be Circular Brussels, 18 September 2018 Reference: NBB_2018_25 Contact persons:
Catherine Terrier / Nicolas Strypstein tél. +32 2 221 45 32 / 44 74 catherine.terrier@nbb.be / nicolas.strypstein@nbb.be Suitability of directors, members of the management committee, responsible persons of independent control functions and senior managers of financial institutions Scope

• credit institutions, stockbroking firms, payment institutions and electronic money
  institutions governed by Belgian law, and the aforementioned institutions' branches abroad,
• branches established in Belgium of credit institutions, stockbroking firms, payment
  institutions and electronic money institutions governed by the law of a State that is not a member of the European Economic Area,
• settlement institutions and institutions assimilated to settlement institutions governed by
  Belgian law, and the aforementioned institutions' branches abroad,
• central securities depositories, their supporting institutions and central depository banks
  governed by Belgian law, and the aforementioned institutions' branches abroad,
• branches established in Belgium of institutions supporting central securities depositories,
  central depository banks and settlement institutions and institutions assimilated to settlement institutions, governed by the law of a State that is not a member of the European Economic Area,
• (re)insurance undertakings and their branches abroad, as well as branches established in
  Belgium of such undertakings that are governed by the law of a State that is not a member of the European Economic Area,
• (mixed) financial holding companies and insurance holding companies.
  Summary/Objectives
  The purpose of this circular is twofold: firstly it introduces the "fit and proper" handbook to replace circular NBB_2013_02 dated 17 June 2013 on standards on expertise and professional integrity for management committee members, directors, responsible persons of independent control functions and senior managers of financial institutions, and secondly it transposes into the Belgian prudential framework the guidelines of the European Banking Authority (EBA) of 26 September 2017 on the assessment of the suitability of members of the management body and key function holders.