FAQ

FAQ Overview

    • What is the Whistleblowers' Point of contact?
    • Who can submit a report?
    • Can you report anonymously?
    • What protection do you enjoy as a whistleblower?
    • What procedures apply to reports?
    • What confidentiality regime applies?
    • What information can you report via the Whistleblowers' Point of contact?
    • What kind of feedback can you expect from the FSMA?
    • How can you submit a report?
    • Treatment of personal data

Public procurement

Takeover bids and the MAR

    • 1. When does a potential bidder have to announce his/her intention to launch a bid?
    • 2. What information has to be included in a press release in which the potential offeror announces his/her intention to launch a bid?
    • 3. When does notification have to be made of transactions in securities carrying voting rights or conferring access to voting rights in the offeree company, the offeror or the company whose securities are being offered by way of consideration?
    • 4. Do the provisions regarding the obligation to disclose any inside information to the public apply in the context of the preparation of a takeover bid?
    • 5. Does the legislation governing market abuse offer a legal framework for an offeror's negotiations regarding its takeover bid?
    • 6. May an offeror still buy securities in the offeree company during the preparation of a takeover bid, in order to strengthen its position within the shareholdership (also known as stake-building)?
Financial products

The approval by the FSMA of advertising material

FSMA Regulation governing the distribution of certain derivative financial instruments (binary options, CFDs, etc.)

    • 1. Why this Regulation?
    • 2. What is prohibited under the Regulation?
    • 3. When did the Regulation enter into force?
    • 4. Why is the distribution of binary options and derivative contracts with a maturity of less than an hour prohibited?
    • 5. Why is the distribution of derivative products with leverage (such as CFDs and forex products) prohibited?
    • 6. Whom does the Regulation apply to? Does it also apply to foreign providers?
    • 7. Does the prohibition apply to all forms of distribution of derivatives?
    • 8. Does distribution within the framework of the Regulation require that a minimum number of investors be approached?
    • 9. What do we understand by 'distribution in Belgium'?
    • 10. Does this Regulation mean that from now on no Belgian can 'speculate' on binary options or forex instruments?
    • 11. What happens to existing trading accounts held by Belgians who are clients of an online platform distributing its instruments in Belgium?
    • 12. Can providers still distribute derivatives to legal persons?
    • 13. How will the FSMA enforce the provisions of the Regulation?
    • 14. What can victims of unlawful activities relating to binary options or forex instruments do to recover their losses?
    • 15. Does the Regulation mean that consumers no longer have any way to hedge against certain risks by means of derivatives?
    • 16. Does the Regulation apply to share option plans?
    • 17. Have any other European countries introduced such a prohibition? Are there any other European countries that plan to do so?
Information obligations

Contributions in kind, mergers, divisions and equivalent operations

    • 1. What is the role of the board of directors?
    • 2. What is the role of the shareholders?
    • 3. What are the statutory reporting obligations of the board of directors and the statutory auditor to the shareholders?
    • 4. What is the role of the independent directors and of the statutory auditor of the listed company?
    • 5. Are the conflict of interest rules for intra-group decisions (Art. 524 of the Companies Code) applicable to these types of operations?
    • 6. What are the points requiring attention with regard to a fairness opinion?
    • 7. What kind of information on the justification of the exchange ratio must be reported in the legal reports?
    • 8. VAre these type of operations exempted from the prospectus obligation?
    • 9. What are the points requiring attention with regard to communications about the operation?
    • 10. What is the competence of the FSMA?