Access to the Belgian insurance distribution market for UK providers in a post-Brexit era
Anticipating and reacting to the effects of Brexit, various insurance intermediaries based in the United Kingdom looked for means to continue serving the European market after the loss of their passporting rights (i.e. their right to recognition of their UK licence as an insurance intermediary throughout the EEA). A traditional solution, chosen by many UK […]
Simont Braun boosts its mediation capabilities with Alexia Faes named certified mediator
We are delighted to announce that Alexia Faes, associate in construction law, has been named registered mediator in civil and commercial matters by the Federale Bemiddelingscommissie – Commission fédérale de mediation. More than ever, enterprises want efficient and swift solutions rather than lengthy judicial proceedings to solve their disputes. At Simont Braun, we understand this […]
The Special Commission on Construction: in case of dispute, think of mediation!
The construction sector is a permanent mediation. Contractors, suppliers, site managers, all of them have to engage in constant dialogue to find pragmatic solutions to possible conflicts. The event “Construction & Mediation into the wild”, organised by Simont Braun and the Federal Mediation Commission on 31 August at Pairi Daiza, was the perfect opportunity to […]
Payment service providers can rely on bank secrecy in case of tax audit
Can payment service providers rely on bank secrecy in case of tax audits? On 31 May 2022, the Court of appeal of Ghent ruled on the possibility for the Belgian tax authorities to request information from payment service providers (PSP) regarding financial transactions. In its decision, the Court notably confirms the following: PSP should be […]
Blueprint for a large tax reform
Today, our Minister of Finance has released a “Blueprint for a large tax reform”, paving the way for a vast reform of our Belgian tax system. Key principles of this groundbreaking reform that would lead to a “dual income tax” system: Lowering taxation on professional income: tax rates would be reduced and made more progressive; […]
Illegal uploads | Copyright filters and freedom of expression
On 26 April 2022, the Grand Chamber of the Court of Justice of the European Union (“CJEU”) judged that Article 17 of Directive (EU) 2019/790 (“Digital Single Market” or “DSM”) is compatible with the right to freedom of expression and information. In this much-awaited decision (available here), the CJEU issued useful guidance on filtering tools […]
Belgium about to implement foreign direct investment screening mechanism
On 1 June 2022, the various governments of Belgium reached a cooperation agreement on developing a foreign direct investment screening mechanism. With the adoption of a screening mechanism, Belgium gives effect to Regulation (EU) 2019/452 establishing a framework for the screening of foreign direct investments into the European Union. Scope of application of the screening […]
Ambiguity in insurance contracts may favour policyholders and insureds
It is common to complain about how puzzling insurance contracts can be. These are often long, complex, and use concepts known only to specialists. However, it is about as common to sign a difficult to read insurance contract as it is to click on “Accept all cookies” while visiting a website. Most of the time, […]
Insolvency | Back to the future with the Heiploeg ruling?
After having almost killed the Belgian judicial restructuring procedure by transfer under judicial supervision (see our previous news on the topic), the European Court of Justice (“ECJ”) may have brought it back to life with the long-awaited Heiploeg ruling. Below, we explain the milestones and key takeaways of this evolving procedure. We have also summarised […]
The latest Corporate and M&A trends in Belgium
What are the latest Corporate and M&A trends in Belgium? Simont Braun provides insight on the most notable developments in Chambers and Partners Overview 2022. Our overview focuses on the increased activity of VC/PE firms, the augmentation of seller-initiated deals, the use of deferred payment elements, W&I insurance, the fast-growing tech start- and scale-ups, and ESG […]
New registration obligation for Virtual Asset Service Providers (VASPs) in Belgium
As of 1 May 2022, certain crypto-related activities in Belgium will become regulated. The providers of these services will have to register with the Financial Services and Market Authority (‘FSMA’). On 8 February 2022, the Belgian government finally adopted its much-awaited Royal Decree on the status and supervision of providers of exchange services between virtual […]
What is in the proposal Directive on corporate sustainability due diligence?
On 23 February 2022, the European Commission issued the long-awaited proposal Directive on corporate sustainability due diligence (the “Draft Directive”). The Draft Directive will impose on the largest companies and companies in high-impact sectors a due diligence duty for their own operations, their subsidiaries, as well as their established direct and indirect business relationships throughout […]
