Intermediaries in banking and investment services and/or insurance intermediaries that act exclusively in the name of and on behalf of a single principal that has signed on to the moratorium (French - Dutch) do not have to sign on individually to the moratorium. The decision by their principal to sign on applies both to the principal and to its exclusive agents, as from 1 August 2011.
- Which intermediaries can sign on to the moratorium?
- brokers in banking and investment services
- other intermediaries ('non-exclusive') that can distribute 'class 23' life insurance products.
- As of when can intermediaries sign on to the moratorium?
After consultation with the professional associations of intermediaries, it was decided that intermediaries can sign on to the moratorium starting on 15 September 2011. An electronic form has been created for the purpose, with which intermediaries may indicate their accession to the moratorium (see below).
- What do intermediaries commit themselves to by signing on to the moratorium?
Intermediaries that sign on to the moratorium commit themselves, for the period of the moratorium, to distribute only those structured products that are issued or distributed by institutions which have signed on to the moratorium (French - Dutch).
- How can intermediaries sign on?
To sign on, intermediaries can use an electronic accession form that is available on the FSMA's website. The accession takes place in 4 steps:
- The electronic form asks intermediaries to enter their contact information (e.g. name, FSMA registration number and email address). For each activity (bank and investment services – B, insurance – A ('class 23') and/or reinsurance – R ('class 23')), they tick the box indicating that they are signing on to the moratorium.
- They submit the electronic form using the 'Submit' button.
- After submission, they will receive an email from the FSMA asking them to confirm their accession once again. This is done by clicking on the link provided.
- The accession is confirmed.