It happens that traders, operating in one EU Member State, block or limit access to their websites and applications by customers from other member states who would like to engage in cross-border transactions (a practice called ‘geo-blocking’). This, together with the practice of traders applying different general conditions of access to their goods and services or with regard to the means of payment, based on the customer’s nationality, place of residence or place of establishment, forms a barrier to the free movement of goods and services throughout the EU internal market.

These practices, if not objectively justified[1], are forbidden as from 3 December 2018, the date of applicability of the EU Regulation on Geo-blocking[2].  

La Commission de droit commercial et économique de la Chambre vient d’adopter en seconde lecture le projet de nouveau Code des sociétés et des associations. 

Pour un aperçu des principaux changements par rapport à la règlementation existante, nous vous invitons à consulter une des présentations faites par notre associé Paul Alain Foriers, un des quatre experts en droit des sociétés désignés par le Ministre de la Justice: pdfLa réforme du Code des sociétés et des associations - Quelques questions importantes

Si vous souhaitez davantage d'informations, n’hésitez pas à prendre contact avec Paul Alain Foriers, Sandrine Hirsch ou Nikita Tissot.

 

Although the Insurance Distribution Directive (“IDD”) was supposed to be implemented on 1st October 2018 at the latest, the Belgian transposition law was only adopted on 14 November 2018. This implementation law is characterised by an expected dose of gold-plating together with a few surprising good news for the industry. In this news, we give our two-cent on the upcoming changes we thought were the most interesting to the industry – and hopefully the less boring to read about. 

This article summarises the major changes entered into force on 1st November 2018.

Suite à l’adoption de la loi du 15 avril 2018 portant réforme du droit des entreprises (ci-après « la loi »), certains changements concernant tant la dénomination que les compétences du tribunal de commerce sont entrés en vigueur ce 1er novembre 2018, dont les principaux sont résumés ci-dessous.

  1. Introduction

The public offer of investment instruments and their admission to trading on a regulated market used to be governed by the law of 16 June 2006 implementing the Directive 2003/71/EC of 4 November 2003 (the “Law of 2006”).

While mandatory disclosure of information is vital to protect investors and constitutes a necessary step towards completion of the so-called ‘EU Capital Markets Union’[1], the rules laid down in the Directive 2003/17/EC led to divergent approaches across Europe and resulted in significant impediments to cross-border offers of securities, multiple listings on regulated markets and to EU consumer protection rules. 

On Tuesday 23 October, Sandrine Hirsch, Partner in our Corporate M&A department, gave a lecture on the obligations related to the new UBO Register at a workshop organised by the association “Avocats en droit boursier et financier/Advocaten in het beurs- en financieel recht”, in the presence of Mrs Annika Agemans from the SPF Finances/FOD Financiën.

Sandrine’s presentation is available here (in French).

Do not hesitate to contact her for more guidance on this matter: Cette adresse e-mail est protégée contre les robots spammeurs. Vous devez activer le JavaScript pour la visualiser.

 

 

One of the biggest threats associated with virtual currencies (or cryptocurrencies) is their potential use for money laundering and terrorist financing purposes. With the adoption of the 5th Anti-Money Laundering Directive ( “AMLD5”) on 30 May 2018, the European Union attempts, amongst other things, to address this issue.  

Following the entry into force of the GDPR on 25 May 2018 (see our news “GDPR – Are you ready?”), the law of 30 July 2018 on the protection of natural persons with regard to the processing of personal data, which repeals the law of 8 December 1992, has been published in the Belgian Official Journal on 5 September 2018 and entered into force the same day.