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- New insights of the Belgian Data Protection Authority on cybersecurity and the role of the DPO
In a recent judgment of April 26, 2021, the Belgian Data Protection Authority (“DPA”) fined a financial institution (the “Company”) €100,000 for – amongst other things – failure to provide an adequate level of cybersecurity.
- New franchise law in Belgium – how should your template franchise agreement change?
Belgium has recently implemented a new law which will have direct implications on B2B relationships, in order to address abuse of economic dependence, unfair contractual terms and unfair practices. The aim of the new legislation is to balance the position of the contracting parties, with direct application to franchise agreements.
- The DPO and conflicts of interest: What (management) functions are compatible with the DPO?
In a decision of April 28, 2020, the Belgian Data Protection Authority (DPA) imposed a fine of €50,000 in a case where a data protection officer (DPO) also performed an incompatible function.
- Focus falls on corporate vigilance and accountability in Belgium
Lawmakers push for a framework for mandatory value chain due diligence. On 2 April 2021, a legislative proposal entitled “Proposition de loi instaurant un devoir de vigilance et un devoir de responsabilité à charge des entreprises tout au long de leurs chaînes de valeur” or “Wetsvoorstel houdende de instelling van een zorg- en verantwoordingsplicht voor de ondernemingen, over hun hele waardeketen heen” was introduced by members of various political parties before the Belgian Chamber of Representatives (the Belgian Vigilance Proposal). The Chamber of Representatives voted in favour of considering this legislative proposal on 22 April 2021, a few weeks ahead of the 10th anniversary of the unanimous endorsement by the United Nations Human Rights Council of the United Nations Guiding Principles on Business and Human Rights (UNGPs).
- COVID-19 - Tax cut for landlords who cancel rent of tenants forced out of business
More than a year into the pandemic, some businesses still have to stay closed because of COVID-19 lockdown measures. Their source of income has dried up, but significant monthly costs, such as rent for business premises, continue to be incurred during the mandatory closure period.
- Dentons COVID-19 Retail Tracker - Belgium
Status – Has any special status been introduced? This overview includes the COVID-19 federal measures implemented in Belgium. Please note that regions, provinces and municipalities can apply additional measures.
- Belgian FSMA publishes final FAQs regarding advertisements for investment instruments
On 1 April 2021, the FSMA published a communication containing its final version of the Frequently Asked Questions (FAQs) on the requirements applicable to advertisements for investment instruments when they are offered to the public, admitted to trading or distributed to retail clients. Visit the following links for the Dutch and French versions of the FAQs. The English version is currently unavailable. Please see full Publication below for more information.
- ‘Privacy Rulings': legal certainty for your business?
While the Belgian Data Protection Authority (“DPA”) is becoming increasingly active in adjudicating GDPR claims and releasing opinions and recommendations, companies are still finding it difficult to implement the complexities of the GDPR in their businesses.
- Combating economic abuse in a franchise agreement (Belgian B2B law)
Business to business (“B2B”) agreements are often characterized by an economic imbalance between the parties, particularly in the franchise sector where the franchisor is (seen to) impose contractual clauses that are contrary to normal market practices.
- Introduction of a pre-pack insolvency procedure in Belgium
On Friday, 26 March 2021, the Belgian Insolvency Law was amended with the introduction of a pre-packaged insolvency procedure, allowing the debtor to discretely prepare for judicial reorganisation proceedings under the supervision of a judicial administrator. Other noteworthy changes include (i) a lower threshold for the opening of judicial reorganisation proceedings, and (ii) the more flexible appointment of judicial administrators.
- Collective Redress Likely to Become a Reality in Belgium
The Belgian Government has today submitted a draft federal bill on collective redress for approval in the parliament. If passed, it will introduce collective redress into Belgian legislation for the first time. It will also put into play a number of the principles set out by the European Commission ...
- A reminder of antitrust risks for private equity firms
In two decisions adopted in November 2014 but only recently published, the Dutch competition authority (ACM) fined three private equity firms for the involvement of one of their former portfolio companies in the so-called “flour” cartel during the time of their respective ownership. The two...
- Belgian Class Actions now open to EU consumer protection organizations (Updated)
By decision of 17 March 2016, the Belgian Constitutional Court partially annulled the Belgian Class Action Law for being discriminatory vis-à-vis EU consumer protection organizations of other Member-States. EU consumer protection organizations of other Member-States as class representatives - ...
- Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and primary European fund domiciles - Issue 3 2017: Belgium
Belgian FSMA Issues Two Communications on the Marketing of Units in EEA and Non-EEA AIFs - The Belgian Financial Services and Markets Authority (“FSMA”) published two communications dated 24 February 2017 on the marketing and notification of units in alternative investment funds (AIFs) by...
- Significant Regulatory Innovations for REITs in Belgium
The Situation: Belgium's Law of October 22, 2017, modifies the REIT Regime by broadening the scope of REIT activities and relaxing the country's existing regulatory framework for REITs. The Result: The real estate sector welcomes an innovative change to its existing regulatory framework for the...
- Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and primary European fund domiciles. Issue 7, 2018 - Belgium
Publication by the FSMA of its annual report - The Financial Services and Markets Authority (“FSMA”) published its 2017 annual report on 8 June 2018. At the occasion of its presentation, the FSMA described the preventive and enforcement actions it had taken as well as the topics it had addressed ...
- New Belgian legislation on the distribution of medical devices
Today, the Belgian Minister of Health published the new Royal Decree of 19 December 2018 on the liberalisation of the distribution circuit for medical devices....
- Too Beautiful For a Promotion
The recent nominations of Ursula van de Leyen and Christine Lagarde to two of the most powerful positions in the EU have been widely hailed as proof that women are finally conquering the pinnacles of power, be it in politics or boardrooms....
- GDPR Guide to National Implementation: Belgium - A practical guide to national GDPR compliance requirements across the EEA
Q1/ Applicable legislation - (a) Have the requirements of the GDPR been addressed by introducing a new law, or by updating existing legislation? New legislation has been passed. ———...
- What to do in case of business disruption due to COVID-19? (Belgium)
Many enterprises in various sectors are suffering due to the outbreak of the COVID-19 virus (Coronavirus), which has disrupted their business through non-performance of contractual obligations, supply chain disruption, postponed or cancelled business trips, absent employees, etc....