The Banking, Finance and Insurance Commission (CBFA) ( nl, Commissie voor het Bank-, Financie- en Assurantiewezen, french: Commission Bancaire, Financière et des Assurances) was the
financial regulatory agency for
Belgium
Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to th ...
. It was replaced by a new agency, the
Financial Services and Markets Authority
The Financial Services and Markets Authority (FSMA) ( nl, Autoriteit voor Financiële Diensten en Markten, french: L'Autorité des services et marchés financiers) is the financial regulatory agency in Belgium.
As a supervisory authority, the F ...
(FSMA) on 1 April 2011 as part of a restructuring of the financial regulatory system in Belgium.
History
The CBFA was formed in 2004 with the merger of Insurance Supervisory Authority ( nl, Controledienst voor de Verzekeringen CDV), which was originally created in 1975, and the Banking and Finance Commission ( nl, Commissie voor het Bank- en Financiewezen CBF), which was created in 1935, to form a single agency to regulate all financial markets in Belgium.
It was replaced by the
Financial Services and Markets Authority
The Financial Services and Markets Authority (FSMA) ( nl, Autoriteit voor Financiële Diensten en Markten, french: L'Autorité des services et marchés financiers) is the financial regulatory agency in Belgium.
As a supervisory authority, the F ...
(FSMA) when the Law of 2 July 2010 was implemented. This was to develop the supervision of the financial sector towards a bipartite model known as the "Twin Peaks" model. This bipartite model is intended to provide a structure for the two major objectives of the supervision of the financial sector;
* maintaining the macro- and microeconomic stability of the financial system, which falls within the competence of the central bank, that is, the
National Bank of Belgium
The National Bank of Belgium (NBB; nl, Nationale Bank van België, french: Banque nationale de Belgique, german: Belgische Nationalbank) has been the central bank of Belgium since 1850. The National Bank of Belgium was established with 100% pr ...
;
* ensuring that market processes are equitable and transparent, that relationships between market participants are appropriate and that clients are treated honestly, fairly and professionally (notably from the perspective of rules of conduct), tasks which fall henceforth within the competence of the Financial Services and Markets Authority (FSMA), formerly the CBFA.
See also
*
Economy of Belgium
The economy of Belgium is a modern, capitalist economy that has capitalised on the country's central geographic location, highly developed transport network, and diversified industrial and commercial base. Belgium was the first country to under ...
*
National Bank of Belgium
The National Bank of Belgium (NBB; nl, Nationale Bank van België, french: Banque nationale de Belgique, german: Belgische Nationalbank) has been the central bank of Belgium since 1850. The National Bank of Belgium was established with 100% pr ...
*
Securities Commission
References
External links
Prudential Supervision, National Bank of Belgium websiteFinancial Services and Markets Authority
Finance in Belgium
Belgium
Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to th ...
Federal departments and agencies of Belgium
Defunct government agencies of Belgium
Regulation in Belgium
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