1. Why is the FSMA taking this initiative?

The Special Committee of the Belgian Parliament tasked with investigating the financial and banking crisis recommended that the traceability of financial products be improved. With this initiative, the FSMA is following that recommendation. The Law of 2 July 2010 gives the FSMA the power to draw up regulations that prohibit or set limits on the marketing of retail investment products and that can improve transparency in pricing and administrative costs of such products. The moratorium is also in line with an international tendency, given that supervisors in several countries have already taken similar initiatives.