Regulatory Alerts2018-09-12
Added · Updated
Law of 5 September 2018 amending provisions of the law of 22 February 1998 on the organic statute of the National Bank of Belgium and the law of 2 August 2002 on financial sector supervision regarding appeals against certain decisions of the FSMA and the NBB concerning financial instruments and central securities depositories
This law amends Article 36/22 of the law of 22 February 1998 to establish specific appeal rights for license applicants, central securities depositories (CSDs), supporting entities, and depositary banks against decisions made by the National Bank of Belgium (NBB) under Regulation 909/2014 and related articles. It defines the suspensive nature of these appeals, allowing the NBB to declare decisions immediately executable in cases of serious danger to clients or financial markets. Additionally, Article 122, 44° of the law of 2 August 2002 is updated to include CSDs, supporting entities, depositary banks, and central counterparties in the scope of applicable provisions. The law enters into force on the tenth day following its publication, with the repeal of certain provisions taking effect by 1 January 2020 at the latest.
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