De Commissie voor handels- en economisch recht van de Kamer heeft in tweede lezing het ontwerp van het nieuwe Wetboek van vennootschappen en verenigingen aangenomen.

Hier vindt u een overzicht van de voornaamste wijzigingen door Paul Alain Foriers, een van de vier deskundigen benoemd door het Ministerie van Justitie: pdfLa réforme du Code des sociétés - Quelques questions importantes (alleen beschikbaar in het Frans).

Voor meer informatie over de hervorming, aarzel niet om contact op te nemen met Paul Alain Foriers, Sandrine Hirsch of 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.

Ingevolge de wet van 15 april 2018 houdende hervorming van het ondernemingsrecht, worden sommige wijzigingen betreffende zowel de benaming als de bevoegdheden van de rechtbank van koophandel op 1 november 2018 in werking getreden, waarvan de belangrijkste hieronder worden samengevat.

  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: Dit e-mailadres wordt beveiligd tegen spambots. JavaScript dient ingeschakeld te zijn om het te bekijken.

 

 

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. 

At last, after roughly two years, the EU Directive 2016/943 (hereinafter: The Directive) of 8 July 2016 has finally been transposed by the long-awaited Belgian Law of 30 July 2018 on the Protection of Trade Secrets (hereinafter: The Law) that entered into force on 24 August 2018.

The Law brings clarity, among other things, by giving a legal definition of “trade secrets” and provides useful mechanisms that allow more effective enforcement of the right to the protection of trade secrets.

Considering that The Law is in large part a copy/paste-exercise from The Directive, we first recollect the main objectives and principles of The Directive.