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Banker's oath

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Before whom must banking service providers take the oath?

The identity of the person before whom banking service providers must take the oath depends on:

  • the type of Entity in which they are active (credit institution or banking and investment services agent); and
  • the category of banking service providers they belong to (Categories 1 to 4).

From 15 January 2025, for banking service providers active in credit institutions other than Category 4 banking service providers:

  • Banking service providers subject to fit & proper requirements under Belgian law[1] or the law of another EEA Member State take the oath before the FSMA:
    1. fit & proper persons under Belgian law (Category 1), i.e. fit & proper persons working in Belgian credit institutions and in Belgian branches of third country credit institutions; and
    2. managers responsible (Category 2) subject to fit & proper requirements under the law of the home Member State of the EEA credit institution concerned, with a branch in Belgium.
  • Managers responsible other than those referred to in point 2 above (managers responsible who are not subject to fit & proper requirements under the law of another EEA Member State) take the oath before a senior manager of the credit institution or of its Belgian branch. 

This breakdown is summarized in a table (available in Dutch and  French only) for use by the sector..

From 15 July 2026, for banking service providers:

  • active in credit institutions and belonging to Categorie 4 ( other persons who directly participate in the exercise of banking activities, or in the provision of banking services within Belgium), the oath will in principle be taken before a senior manager of the credit institution or of its Belgian branch. Only Category 4 banking service providers who are subject to fit & proper requirements under the law of another EEA Member State will be required to take the oath before the FSMA.
  • active as banking and investment services agent:
    • Banking service providers subject to fit & proper requirements (Categories 1 en 3), who will take up their position on or after 15 July 2026 must take the oath before the FSMA.
    • Banking service providers subject to fit & proper requirements (Categories 1 en 3), who have taken up their position before 15 July 2026 will take the oath before a senior manager of the credit institution on whose behalf they are acting or a manager of the Belgian branch of that credit institution.
    • Other banking service providers will take the oath before a senior manager of the banking and investment services agent for whom they act.

This breakdown is summarized in a table (available in Dutch and French only) for use by the sector. 

[1] The Law of 25 April 2014 on the legal status and supervision of credit institutions and the Law of 22 March 2006 on intermediation in banking and investment services and on the distribution of financial instruments.