Regulatory Alerts2021-07-06
Added · Updated
Uniform Letter to Approved Auditors Regarding Obligations Concerning Special Mechanisms
Approved auditors in Belgium are required to submit an annual declaration to the National Bank of Belgium via the eCorporate application, stating whether they have identified any special mechanisms within the financial entities they audit. This obligation stems from the Law of 2 June 2021 and applies to credit institutions, insurance companies, payment institutions, and other regulated entities prohibited from establishing such mechanisms. Auditors must also strictly adhere to their whistleblowing duties under Circular NBB_2017_20, reporting any concrete evidence of special mechanisms to the regulator.
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