Banker's oath
- The requirement to take the oath differs depending on whether the banking service provider performs the said functions within different Entities or within the same Entity.
A new oath-taking is required in the event of a change of Entity or for multiple positions with different Entities. - In the event of a combination or change of function(s) in a single Entity, the oath-taking requirement differs depending on whether the combination or change of function(s) involves a new oath other than the one taken before the Entity.
In the event of a combination or change of function(s) within the same Entity, a banking service provider may in fact belong to more than one category of banking service provider. In such cases, an additional oath is only required if the new or second function involves taking an oath other than the one taken before the Entity.. This rule is illustrated by the following practical examples:- A person who directly participates in the exercise or provision of banking activities or banking services (Category 4) at a credit institution will initially have taken the oath before a senior manager of that institution.
If the person later becomes a manager responsible (Category 2) in that same institution, he or she will not be required to take the oath again.
If he or she becomes a fit & proper person, he or she will be required to take the oath before the FSMA. This is explained by the specific behavioural requirements imposed on fit & proper persons, and the difference in punitive competences with respect to them. - Similarly, a person working for a banking and investment services agent who directly participates in the exercise or provision of banking activities or services (Category 4) will initially have taken the oath before a senior manager of that agent.
If the person subsequently becomes a manager responsible (Category 2) in that same Entity, he or she will not be required to take the oath again.
If he or she becomes a fit & proper person (on or after 15 July 2026), he or she will be required to take the oath before the FSMA. This is explained by the specific behavioural requirements imposed on fit & proper persons and the FSMA's powers to supervise compliance with the requirements in terms of appropriate expertise and professional integrity for banking and investment services agents. - A senior manager of a Belgian credit institution will probably hold both a fit & proper person (Category 1) and a manager responsible (Category 2) status. In this case, he or she will only have to take the oath before the FSMA and not before the credit institution.
- A key function holder in a Belgian credit institution (Category 1) will initially have taken the oath before the FSMA. If the person subsequently becomes a manager responsible (Category 2) within the same institution, he or she will not be required to take the banking oath again, whether he or she retains his/her fit & proper status or not.
- A person who directly participates in the exercise or provision of banking activities or banking services (Category 4) at a credit institution will initially have taken the oath before a senior manager of that institution.