Banking and finance news
Overview of the latest banking and finance news
New law introduces unfair terms prohibition in B2B relations
30 April 2019
A new impactful Belgian law has recently been adopted without raising much media interest. It introduces the general principle that any clause creating an obvious imbalance in the rights and obligations of contractual parties can be cancelled.
As a result, this principle, already known in business-to-consumer (B2C) contractual relationships, is extended to business- to-business (B2B) contractual relationships. It goes without saying that this new law will have important consequences for company relationships by questioning the legality of several contracts.
Belgium adopts law against vulture funds
28 October 2015
The Belgian Law tackling vulture funds activities (1) (the “Vulture Funds Act”) was published in the Belgian Official Journal on 11 September 2015.
The aim of the Vulture Funds Act, which is a pioneering initiative, is to prevent investment funds that qualify as “vulture funds” from using Belgian courts to obtain illegitimate benefits to the detriment of countries recovering from severe financial difficulties.
Does financial consumer protection apply to real estate investments?
8 January 2015
The FSMA offers clarifications on when real estate investments can qualify as investment instruments.
There are many rules in financial regulation that aim to protect financial consumers. The Prospectus Directive, which was established to protect the public and ensure the market’s efficiency, applies to " investment instruments " as defined in Article 4 , § 1 of the Law of 16 June 2006. In a 13 November 2014 communication, the FSMA addressed the cases in which real estate investments can qualify as investment instruments and the consequences thereof.