The Chairman of the FSMA, Jean-Paul Servais, participated in the first symposium of the CFA Institute on financial regulation, held in Madrid.
The CFA Institute has more than 160,000 members and is a global organization that aims to promote high standards of ethics, education and professionalism in the financial sector. The symposium in Madrid focused on how the culture in the sector has changed since the financial crisis and the role that regulation can play in modifying behaviour in the sector.
During his remarks, Jean-Paul Servais discussed the various means regulators can use to contribute to better protection of retail investors. Among other things, he described the moratorium launched by the FSMA on the distribution of particularly complex structured products. The moratorium has contributed to simplifying such products on the Belgian retail market.