The FSMA was established on 1 April 2011; its full official name is the ‘Financial Services and Markets Authority’.
The FSMA’s status is that of an autonomous public institution. This means that it was established by law and that it carries out independently the tasks in the general interest entrusted to it by Parliament. The members of the FSMA’s governing bodies are appointed by Royal Decree for a period of six years.
The FSMA, alongside the National Bank of Belgium (NBB), supervises the Belgian financial sector. The FSMA’s competences fall within the following six domains:
- surveillance of the financial markets and supervision of the financial information disseminated by companies,
- supervision of compliance with conduct of business rules,
- product supervision,
- supervision of financial service providers and intermediaries,
- supervision of supplementary pensions, and
- contribution to improving financial education.