Allen & Overy LLP (JD Supra 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...

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...

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...

In November 2020, the right for undertakings to a basic banking service was introduced into the Belgian Code of Economic Law. The adoption of this law follows more than 17 years after the adoption of the law of 24 March 2003 introducing the right for consumers to a basic banking service. As a result, not only consumers but also certain professionals are now guaranteed several financial services,...

Belgium has not yet adopted a formal FDI screening mechanism to implement the EU FDI Regulation, but the debate on how to protect certain critical industries remains very relevant, as becomes clear upon assessing the 16 December 2020 proposal for a directive on the resilience of critical entities. In this contribution, we will take a fresh look at the FDI screening mechanism designated in the FDI

On 23 November 2020, the Belgian FSMA launched a consultation on its draft Q&As regarding the requirements applicable to advertisements for investment instruments (the Draft Q&As).The Draft Q&As aim to ensure compliance with the substantive requirements on advertisements by providing clear guidance and clarification on good practices.

The rapid and global spread of the Covid-19 coronavirus and the resultant governmental strategies are having an increasingly disruptive effect on our daily lives, and also on global supply chains, including in Belgium. Disruption means a potential breach of contractual obligations and delays in performance, and raises the question of who assumes the risk of contractual non-performance caused...

On 12 March 2020, the Belgian government announced further measures, effective as from 14 March 2020 up until 3 April 2020 (but potentially subject to extension), in order to combat the COVID-19 outbreak (also referred to as new coronavirus outbreak and novel coronavirus outbreak).

Every day, direct marketing communications are addressed to billions of people who are targeted as a result of the processing of their personal data. Against this background, the Belgian Data Protection Authority (the BDPA) has published guidelines on the rules regarding the processing of personal data for direct marketing purposes (FR/NL) (the Guidelines).

The new Belgian Civil Code (the Book on Goods) has just been approved by parliament, which will affect the Real Estate sector. On 30 January 2020, the Belgian parliament adopted an important piece of legislation that will significantly affect the Real Estate sector.

As from 1 January 2019, taxpayers may opt to charge VAT on the letting of immovable property for professional use (the Optional VAT Scheme). This new Optional VAT Scheme enables the lessor to deduct any input VAT. It has been established to solve problems related to VAT leakage on the letting of immovable properties.

On 4 April 2019, the Belgian Parliament adopted a law introducing a competitive bidding procedure to award domain concessions for new offshore wind farms. In addition to setting out a general framework for the competitive bidding procedure, the law aims to further reduce subsidies granted to offshore wind electricity production while recognising that new wind farms are essential to achieving...

The Belgian government and financial services regulator are preparing for Brexit. This has recently resulted in the submission to the Belgian Parliament of a draft law providing a framework to take certain contingency measures notably in the financial sector.

The Constitutional Court rendered its judgment on a controversial issue under the 2013 Law on the Unified Status for white-collar and blue-collar employees (the LUS).

On 20 July 2018, the new Belgian prospectus law was published in the Belgian State Gazette. This new law abolishes the Belgian prospectus law of 16 June 2016 (as of the date that the new Prospectus Regulation will fully apply, i.e. 21 July 2019). The Prospectus Regulation includes a number of “legislative options” for Member States. A number of these options, in particular the possibility to...

On 23 June 2017, the Belgian “Sunshine Act” entered into force, requiring life sciences companies to disclose relationships with healthcare actors based in Belgium. Companies in both the pharmaceutical and medical devices sector must now report annually specific categories of premiums and benefits granted to healthcare professionals and organisations to the FAMHP through the ethical health...

A new law has introduced an out-of-court criminal dispute resolution procedure which is available to, inter alia, a legal entity accused of bribery, fraud or money laundering. Provisions relating to another alternative to trial, the “settlement of claims”, have been partially annulled by the Constitutional Court. This article considers the changes, and the implications for banks.

The Belgian Stock Option Law sets out the tax treatment of stock options, thereby eliminating the uncertainty as to the taxable value of the stock options. In the past, the Belgian Ruling Commission has been reluctant to confirm that the Stock Option Law also applies to stock options on carried interest shares. In a recent ruling, we obtained confirmation from the Ruling Commission that the Stock

On 10 March 2016, the Belgian Constitutional Court handed down an important decision on the starting point of the limitation period for private enforcement actions. These actions cannot be time-barred before a final decision establishing the competition law infringement is reached.

The Belgian FSMA has launched a consultation on the new rules on marketing materials for financial products distributed to retail clients, introduced by the Transversal Royal Decree.

By virtue of the Statute dated 28 March 2014 (the Statute of 2014), the Flemish Government decided to amend the existing Soil Statute of 27 October 2006 (the Statute of 2006). The modifications were published in the Official Belgian Gazette on 4 September 2014 and most of them apply from 1 January 2015.

This article looks at the concerns with Council Regulation (EC) 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (Brussels Regulation) and examines how far they are addressed by Regulation (EU) 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and the recognition and enforcement of judgments in...

Article 4.8.4 of the Flemish Urban Planning Code allowed the Council for Permit Disputes (Raad voor Vergunningsbetwistingen) (ie the Flemish administrative court competent to rule on appeals against urban planning permits) to apply a so-called 'administrative loop' (bestuurlijke lus). By applying such administrative loop, the Council of Permit Disputes could – through an interim-judgment – allow...

The Belgian collective redress act (hereafter the Collective Redress Act) was signed into law just before the Easter break on 27 March 2014 and is expected to enter into force in the next couple of months (a royal decree should set forth the effective date shortly).