Regulatory Alerts2023-11-14 | NBB_2023_09Added · Updated
Circular NBB_2023_09: Inspection Scope and Procedures
This circular establishes the working methods, scope, and procedural framework for on-site inspections conducted by the National Bank of Belgium (NBB) as a prudential and anti-money laundering supervisor. It applies to a comprehensive list of supervised entities, including credit institutions, stockbroking firms, insurance companies, payment institutions, and central securities depositories, while explicitly excluding inspections led by the European Central Bank under the Single Supervisory Mechanism. The document mandates specific inspection stages—preparatory, investigation, and reporting—and requires institutions to facilitate access to information, attend kick-off and exit meetings, and adhere to confidentiality obligations. It replaces Circular NBB_2013_15 and defines the scoring scale for findings and overall opinions used to assess compliance with legal requirements.