In order to duly inform the market, the FSMA wishes to set out in detail the status of the Ekopak NV dossier.
Based on an analysis that has been underway for some time within the FSMA, the FSMA’s Management Committee has decided to task the Investigations Officer with conducting an administrative investigation into compliance by Ekopak NV with its information obligations in respect of the market.
In accordance with the procedure provided for in Articles 70 and following of the Law of 2 August 2002 on the supervision of the financial sector and on financial services, the next step in the process will be for the Investigations Officer’s interim investigation report to be handed over to Ekopak for its comments.
After examining Ekopak’s comments, the Investigations Officer will finalize his report and submit it to the FSMA’s Management Committee. The Investigations Officer investigates both the charges and the defence. An ordinary investigation takes a number of months to complete. The length of time depends on the complexity of the dossier and, for example, on whether international cooperation is required.
In accordance with Article 71 of the aforementioned Law of 2 August 2002, the Management Committee may then decide to:
- notify the party in question of the charges and submit the dossier to the Sanctions Committee, to be followed by adversarial proceedings, or
- accept an agreed settlement, or
- close the case without further action.
In the first of the above cases, where one of the charges may also constitute a criminal offence, the FSMA will also inform the Public Prosecutor.
As is customary, the FSMA will, within the limits of its obligation of professional secrecy, keep the market informed of developments in the case.