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Whistleblowers’ point of contact

This is the section of the FSMA website dealing with whistleblowers’ reports. A whistleblower is a person who observes an infringement of the financial legislation which the FSMA is responsible for enforcing, and reports the infringement to the FSMA. Whistleblowers ("reporting persons") can help detect abuses and have them addressed by the FSMA.

The Whistleblowers' Point of contact is not intended for clients to submit their complaints against a financial institution or to report a personal conflict with their employer or co-contractor. There are other communication channels for consumer questions and complaints, both within and beyond the FSMA. A list of these institutions and their specific roles can be found on the FSMA website.

The FSMA guarantees that the whistleblower’s identity will be kept secret. Whistleblowers’ reports (‘reports’) can also be made anonymously. The law protects persons who in good faith report an infringement to the FSMA.

Reports should enable the FSMA to investigate the facts in question. Therefore, the facts need to be described with sufficient precision and detail. Where possible, the facts should also be supported by documentary evidence.

Reports can be made using various channels: via the Whistleblowers’ point of contact on this website, by phone, in writing or at a face-to-face meeting.

Below, we have provided more detailed explanations and instructions regarding reports of infringements.

Circular of the Financial Services and Markets Authority: procedural rules for the receipt and treatment by the FSMA of reports of infringements and rules for the protection of whistleblowers and other protected persons (available in Dutch and French only)

Reports of infringements

  • Who can submit a report?

    • Anyone who observes actual or potential infringements of the financial legislation which the FSMA supervises can submit a report (e.g. employees, self-employed workers, shareholders, persons belonging to the administrative, management or supervisory body of an undertaking, persons working under the direction of contractors and suppliers, volunteers and trainees, clients of financial institutions, etc.). Thus, it is not necessary for the infringement to have been observed in a work-related context.
    • The legislation with which the FSMA supervises compliance can be consulted on its website1. The website also provides an introductory brochure with a general description of the mission and powers of the FSMA.

    [1] Article 45 of the Law of 2 August 2002 on the supervision of the financial sector and on financial services describes the powers of the FSMA. The FSMA is not competent for enforcing all the legislation mentioned on its website.

  • Can you report anonymously?
    • The reports of infringements may, if you wish, be made entirely anonymously. However, if the reporting person does not leave his/her contact details, the FSMA cannot get in touch for further information, clarifications or feedback.
    • The FSMA also guarantees that the identity of a reporting person who identifies him/herself is kept secret. This applies both to a person who immediately reveals his or her identity to the FSMA and to a person who decides at a later stage to make his or her identity known (see below: ‘What confidentiality regime applies?’).

  • What procedures apply to reports?
    • The procedures that apply to reports of infringements are set out in more detail in a circular of the FSMA (available in Dutch and French only ).
    • Reporting persons may report an infringement to the FSMA after having first reported it through the internal reporting channels of the entity concerned, or they may report it straight to the FSMA.
    • Reports are handled within the FSMA by dedicated staff members who are trained in handling them. They are the ones who maintain contact with the reporting person where the latter has provided his/her contact details.
    • The reports received will be stored in a confidential and secure system. Access to the system is subject to restrictions ensuring that the data stored therein is available only to the persons within the FSMA for whom access to that data is necessary to fulfil their professional duties.
    • The FSMA will immediately, and in any event no later than within 7 days of the date of receipt of the report, acknowledge receipt via the contact details the reporting person has provided, unless the reporting person explicitly requested otherwise or the dedicated staff members reasonably believe that this would jeopardize the protection of the reporting person's identity. The acknowledgement of receipt only confirms that the reporting person concerned has reported information via the Whistleblowers' Point of contact or in paper format, and the date when the said information was reported. This acknowledgement does not, however, confirm that the information in question is indeed a whistleblower’s report, for which legal protection is due.
    • Persons who report information via the telephone line or at a physical meeting are offered the opportunity to check, rectify and agree with the transcript of the report by signing it, and receive a copy.
    • If the reporting person has provided his or her contact details, the FSMA will, within 6 weeks, send the person a confirmation of whether or not his/her report concerns an infringement of the financial legislation with which the FSMA supervises compliance. Such confirmation will not be sent if the reporting person explicitly requested otherwise or if the dedicated staff members reasonably believe that doing so would jeopardize the protection of that person's identity. In exceptional cases, this period of 6 weeks may be extended.
    • The FSMA diligently follows up on the reports. The FSMA assesses the accuracy of the allegations made in the report and, where relevant, addresses the infringement reported, e.g. by imposing measures or sanctions. The FSMA can, after due assessment of a report, also decide that it does not require further follow-up other than closure of the procedure, e.g. when a reported infringement is clearly minor or in case of repeated reports which do not add any meaningful new information to a previous report in respect of which the relevant procedures have been concluded. In the event of high inflows of reports, the FSMA can also prioritize the treatment of reports of serious infringements or infringements of essential provisions falling within its supervision.
    • If it turns out that the report is not of an infringement of the financial legislation with which the FSMA supervises compliance, the reporting person will, where appropriate, be referred to the channel within the FSMA that can help him or her further. If the FSMA considers that it is not the FSMA but other authorities who are competent to handle a reported infringement, or that other authorities are competent alongside the FSMA, it transmits the report to the federal coordinator within a reasonable time and in a secure manner. Moreover, if the (other) competent authority is competent for addressing infringements of the provisions regarding financial services, products and markets or for the prevention of money laundering and terrorist financing, the FSMA can transmit the report directly to that (other) authority. In those cases, the report will be transmitted unchanged so that the (other) competent authority can usefully handle the report. The reporting person shall be informed of that transmission to the (other) competent authority via the contact details he has left.

  • What protection do you enjoy as a whistleblower (reporting person)?

    • The law1 provides protection for persons who in good faith report to the FSMA an infringement of the financial legislation with which the FSMA supervises compliance. The reporting person does not lose protection merely because a report made in good faith has been found incorrect or unfounded. This also applies to persons who have made anonymous reports but who are subsequently identified and suffer retaliation. Facilitators (persons who assist reporting persons in the reporting process and whose assistance must be confidential) and third parties who are connected with the reporting persons shall qualify for the same protection if they had reasonable grounds to believe that the reporting person fell within the scope of protection under the law.
    • Reporting persons who report such an infringement in good faith may report information to the FSMA that would normally be confidential2, provided that they have reasonable grounds to believe that the reporting of such information is necessary for revealing an infringement of the legislation enforced by the FSMA. Such reporting may not give rise to any civil, criminal or disciplinary proceedings or to professional sanctions. In legal proceedings, the reporting person and other protected persons cannot incur liability of any kind in respect of such reports of infringements. Nor can persons reporting such information incur liability in respect of the acquisition of or access to the information which is reported, provided that such acquisition or access did not constitute a self-standing criminal offence.
    • Any form of retaliation against the reporting person and the other protected persons3, including threats of retaliation and attempts of retaliation, is prohibited (such as dismissal, salary cut, change in position or job content, discrimination, harassment, withholding of training, etc.). The reporting person and the other protected persons who believe that they are the victim of retaliation may file a complaint with the federal coordinator (the ‘Federal Ombudsman’4) and may turn to the courts5. The burden of proof rests on the entity that took the detrimental measure. The reporting person can ask the FSMA to confirm that he or she is a whistleblower, as well as the date when the report was made, to any administrative or judicial authority.
    • It should be noted that the above-mentioned protection rules are laid down by Belgian law and that this protection therefore applies only in so far as Belgian law applies (to the individual relationship between the reporting person and the person making a claim against him/her, or between the reporting person and his/her employer or another person who employs him/her).
    • In addition, reporting persons and the other protected persons also have access to a number of support measures, such as (i) independent advice, free of charge, on the rights of the reporting person and the rights of the person accused of an infringement in the report; (ii) technical advice in respect of any authority involved in the protection of the reporting person; (iii) legal assistance in cross-border proceedings; (iv) technical, psychological, media-related and social support; and (v) financial assistance to reporting persons in the framework of legal proceedings. The support referred to in points (i), (iii), (iv) and (v) is provided by the Federal Institute for the protection and promotion of Human Rights (FIRM/IFDH)6.
    • The protection rules are described in more detail in a circular of the FSMA (available in Dutch and French only).

     

    [1] Chapters 6 and 7 of the Law of 28 November 2022 on the protection of whistleblowers reporting infringements of European Union or national law identified within a legal entity in the private sector (the 'Law of 28 November 2022').

    [2] The Law of 28 November 2022 is without prejudice to the protection of the confidentiality of communication between lawyers and their clients (‘privileged communication’) or of the communication between a health care provider and a patient (‘medical privacy’) (Article 5, 3° of the aforementioned Law). The Law is also without prejudice to the confidentiality of information that is covered by the confidentiality of judicial deliberations (Article 5, 4° of the aforementioned Law). The Law of 28 November 2022 also does not apply to matters of national security or classified information (Article 5, 1° and 5, 2° respectively of the aforementioned Law).

    [3] Namely: (i) facilitators (persons who assist reporting persons in the reporting process and whose assistance must be confidential); (ii) third parties who are connected with the reporting person and who may suffer retaliation in a work-related context, such as co-workers or family members of the whistleblower; and (iii) legal entities that are owned by the whistleblower, for which the whistleblower works or with which the whistleblower is otherwise connected in a work-related context.

    [4] The role of the federal coordinator is fulfilled by the Federal Ombudsman. For more information and contact details, see: https://www.mediateurfederal.be/en/centre-for-integrity.

    [5] The employee can ask to be reinstated by the company under the same conditions (with payment of the lost earnings) or can claim compensation in the amount of a minimum of 6 months’ gross salary. Public sector employees and persons employed by persons other than the employer, such as self-employed staff, enjoy the same protection.

    [6] The FIRM/IFDH can be contacted by post (Leuvenseweg 48, 1000 Brussels) or by email (kl-la@firm-ifdh.be).

  • What confidentiality regime applies?
    • The information relating to reports on infringements, including the identity of the person accused of an infringement, falls under the rules governing professional secrecy. These rules mean that the Chairman and the members of the Management Committee, the members of the Supervisory Board, the member of the Sanctions Committee and the FSMA staff may not disclose the confidential information which they have received in the course of carrying out their tasks to any other persons or authorities, except in special cases that are specifically laid down by law[1]. The identity of the person accused of an infringement is protected for as long as the FSMA's investigation carried out in response to the report is ongoing.
    • The FSMA guarantees the confidentiality of the reporting person, even where it transmits the report to another person or authority (such as the Public Prosecutor's Office or another financial supervisory authority) in one of the exceptional cases laid down by law. In the latter case, the FSMA will do everything it reasonably can to ensure that the transmission of the data to another person or authority does not reveal, directly or indirectly, the identity of the reporting person. A derogation from this obligation is possible only if the reporting person consents to the FSMA revealing his or her identity to another person or authority or if the FSMA is legally required to do so. Moreover, if the FSMA has a legal obligation to disclose the identity of the reporting person, it will inform this person before his or her identity is disclosed, unless providing such information would jeopardise the investigations or judicial proceedings in this matter. However, the foregoing does not apply when the FSMA transmits a report of an infringement for which it is not (solely) competent to the (other) competent authority. In these cases, in order for the (other) competent authority, which is also subject to confidentiality rules, to be able to handle the report usefully, the report is transmitted unchanged (see also: 'What procedures apply to reports?').
      Unless the reporting person consents, the FSMA will refuse any request to consult, receive explanations or a copy of information held by the FSMA ('administrative documents') if doing so jeopardizes the protection of the reporting person's identity.
    • The data relating to the report of an infringement, including the identity of the person whom the report accuses of the infringement, is disclosed within the FSMA only to persons for whom access to that data is necessary to perform their professional duties. An even stricter confidentiality regime is laid down by the FSMA as regards the identity of the reporting person: in principle, only the dedicated staff members are given this information, and they do everything they reasonably can to ensure that if they transmit the report of an infringement to persons inside the FSMA, the transmission does not reveal, directly or indirectly, the identity of the reporting person. Only with the reporting person's consent can his or her identity be disclosed to the other persons within the FSMA for whom that is necessary to perform their professional duties. In such a case - that is, only where the reporting person consents - the identity of the reporting person will also be included in the dossier drawn up on the basis of the report of the infringement.

     

    [1] Article 20, § 2 of the Law of 28 November 2022 on the protection of whistleblowers reporting infringements of European Union or national law identified within a legal entity in the private sector and Article 74, second paragraph, of the Law of 2 August 2002 on the supervision of the financial sector and on financial services.

  • What information can you report via the Whistleblowers' Point of contact?
    • The FSMA handles reports of infringements only of the financial legislation with which it supervises compliance. The Whistleblowers' point of contact therefore is not competent to handle infringements of legislation that is not subject to supervision by the FSMA.
    • The reports must enable the FSMA to investigate the facts reported. The information must be transparent, comprehensible and reliable. The reporting person must describe the relevant facts carefully and in sufficient detail, and where possible document them via evidence submitted together with the report on the infringement. It is important, among other things, to mention the type of infringement, the name and position of the person accused of an infringement in the report, the location, the period to which the report refers and any other element that the reporting person deems relevant.
    • The FSMA's dedicated staff members may, via the contact information provided by the reporting person, ask him or her to clarify the information and documents provided or to provide additional information and documents, unless the (non-anonymous) reporting person has explicitly stated that he or she does not wish to be contacted.

  • What kind of feedback can you expect from the FSMA?
    • Because of the legal restrictions concerning the FSMA’s professional secrecy, the reporting person will only very exceptionally receive feedback. In particular, the FSMA cannot provide the reporting person with interim feedback on its follow-up of the report. The FSMA can only provide feedback on the final result of the investigations it carries out in response to the report if the report leads to measures or sanctions that are published with names. In that case, the FSMA will refer the reporting person to the publication of that measure or sanction.
    • For more information, see the circular of the FSMA (available in Dutch and French only) .

  • How can you submit a report?
    • Electronic application: Whistleblowers' Point of contact.
    • Telephone line: 02/220 56 66, Monday, Tuesday, Thursday and Friday between 9:00-12:00, answering service outside of those hours. The telephone calls are not recorded.
    • Physical meeting: by appointment, that can be made via the electronic application or via the telephone line 02/220 56 66. The telephone calls are not recorded.
    • Written report in paper format: to be sent to the FSMA, Enforcement Department, attn. Michaël André, Investigations Officer, Confidential - LAK2392, Congresstraat/rue du Congrès 12, 1000 Brussels.

    Persons considering reporting an infringement may, if they wish, contact the FSMA’s dedicated staff member via the aforementioned telephone line for confidential advice on filing a report with the FSMA.

  • Treatment of personal data

    The personal data which you have provided to the FSMA via this form will be processed by the FSMA as set out in its Privacy Policy.