Professionals

1. What is the purpose of these FAQs?

The entry into force on 1 November 2014 of the Law of 25 April 2014 on the legal status and supervision of independent financial planners and on the provision of financial planning advice by regulated undertakings and of the Royal Decree of 8 July 2014 implementing that Law has created a legal framework for the provision of advice on financial planning.

No one in Belgium may since provide financial planning advice if without being authorized as an independent financial planner by the FSMA or without having obtained the status of a regulated undertaking.

This being new legislation, the Parliament provided for a transition period until 30 April 2015 for those persons already active in the financial planning sector at the time the Law came into force (on 1 November 2014).

These FAQs are dynamic in design. They are meant to answer in as concrete a manner as possible the questions most frequently asked by regulated undertakings, would-be independent financial planners and the legal advisers of these entities. The questions can be both theoretical and practical in nature. We have opted to answer each question separately and as exhaustively as possible, thereby minimizing reference to other FAQs. This inevitably leads to repetition. This document should by no means be construed as a complete or final answer to all questions concerning the new legislation. Neither should it be considered as legal advice regarding these matters.