Litigation lawyer – sanctions proceedings and disciplinary sanctions under the banker’s oath

Where will you be working?

There is a vacancy within the FSMA’s Legal Service for a lawyer with litigation experience.

There are many legal advisors working at the FSMA, spread across various services. The majority of these services are specialized in the supervision of compliance in specific areas. The Legal Service acts as a sort of internal legal consultancy that assists those other services in analysing complex legal questions and providing a correct framework for the measures that the FSMA adopts as part of its supervisory activity. In addition, some members of the team play an important role in the sanctions proceedings conducted by the FSMA, which we describe in greater detail below. The Legal Service also frequently contributes to the drafting of financial legislation and regulations. In addition, it oversees the defence of the FSMA’s decisions against which an appeal has been lodged, and to this end works with the lawyers appointed by the FSMA. All of this is carried out under the authority of the FSMA’s Management Committee.

What will your job entail?

The reason for this new vacancy is the need to strengthen the team that represents the Management Committee in the FSMA’s sanctions proceedings. These proceedings may result in the acceptance of an agreed settlement by the Management Committee, or in the imposition of an administrative fine by the Sanctions Committee^[1]. Although the Sanctions Committee is a body that operates fully independently of the Management Committee, the Management Committee plays an important role in sanctions proceedings before the Sanctions Committee. Thus, the Management Committee sends the respondent the ‘notice of charges’ after having received the investigations officer’s investigation report, and then files written comments that respond to the respondent’s written comments. The Management Committee may also set out its position orally during the hearing held by the Sanctions Committee. The Management Committee is represented and assisted in such cases by a permanent team made up of a few staff members of the Legal Service.

Moreover, with the phased entry into force of the legislation on the banker’s oath, the FSMA is also competent to impose disciplinary sanctions on individual banking service providers. As is the case in the sanctions procedure described above, a decision regarding a potential sanction will be preceded by an investigation conducted by the investigations officer.  It is up to the FSMA’s Management Committee to decide whether to impose a disciplinary sanction, and if so, of what type. The Management Committee will also call upon the Legal Service for legal assistance and the specifics of the disciplinary sanctions to be imposed.

The nature of this position means you will be closely involved in the two activities described above. Both of them require a familiarity with the rights of defence, the drafting of written procedural documents and the oral statement of the main arguments. You will regularly meet with your team to discuss the strategic approach and the progress of the dossier, and can brainstorm on difficult substantive points. You will regularly share know-how with other colleagues on the team. Sharing knowledge and experience enables fellow team members to draw lessons from cases other than those for which they hold primary responsibility.

In the remaining time, you will be involved in the above-mentioned activities of the Legal Service. As a legal advisor with the Legal Service, you will analyse legal questions that arise from the exercise of the FSMA’s various powers, and will propose answers and/or solutions. These questions are generally complex and concern the interpretation or application of the various laws that the FSMA is tasked with enforcing, the principles of administrative law that a supervisory authority must take into account when exercising its powers, as well as the organization and functioning of the FSMA. You may also be asked to help with the preparation of legislative and regulatory texts. In that case as well, you will regularly exchange know-how with other colleagues on the team, and can brainstorm with them about difficult substantive matters.

What knowledge, experience and skills do you bring?

• A Master’s degree in law.
• At least 3 years’ relevant experience at a highly reputed law firm.
• An excellent command of written and oral French and Dutch.
• Experience in the written and oral aspects of judicial or administrative proceedings. Experience with administrative sanction proceedings and disciplinary or criminal proceedings would be a particular asset.
• The willingness to handle other legal issues on a wide range of matters, often in a European context.
• An analytical mind-set and the ability to combine this with an excellent capacity for synthesis. Accuracy and professionalism are among your strongest qualities.
• Excellent ability for logical structuring of both oral and written communication.
• You are both a team player and able to work independently.

What do we offer you?

• The chance to do your bit for consumer protection.
• A competitive salary package, with many fringe benefits (including group and hospitalization insurance, full reimbursement of the costs of commuting to/from work, budget-friendly company dining room, contribution to your mobile phone and internet subscription, additional non-statutory holidays, bank holidays, etc.).
• A wide range of opportunities for training and development.
• Flexible working hours.
• Good work/life balance (possibility of teleworking).
• Opportunities for internal mobility.
• Easy to reach offices in central Brussels.

Each member of the FSMA staff is subject to a strict code of ethics and is bound by the obligation of professional secrecy.