Belgium: Technical Note on Securities Markets Regulation and Supervision

International Monetary Fund

No 2013/136, IMF Staff Country Reports from International Monetary Fund

Abstract: The Belgian securities market and financial services markets have remained subdued since the crisis, and significant changes have taken place in regulatory architecture in response. The execution requires both the resources and the same strong focus on driving key outcomes. Concerns also remain about the risk of regulatory arbitrage arising from differences in regulatory and supervisory approaches between the National Bank of Belgium (NBB) and the Financial Services and Markets Authority (FSMA). Efforts to solidify cooperation and integration of work between the NBB and the FSMA should continue along with investor education work.

Keywords: ISCR; CR; investment advice company; FSMA guidance; integrity policy; management company; establishment of a Macro Prudential Regulation Council; financial services firm; FSMA influence; FSMA officer; mystery shopping; Systemic risk; Financial sector stability; Systemic risk assessment; Arbitrage; Europe (search for similar items in EconPapers)
Pages: 39
Date: 2013-05-24
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