Het nieuwe Boek 6 en de impact inzake verzekeringen:
een analyse aan de hand van 10 knelpunten

Mr. Sandra Lodewijckx en mr. Pieter-Jan Van Mierlo (Lydian)

Webinar op vrijdag 26 april 2024


De invoering van Boek 6
en de impact voor de medische sector

Prof. dr. Christophe Lemmens (Dewallens & Partners)

Webinar op vrijdag 4 oktober 2024


Woninghuur in Vlaanderen en Brussel:
het antwoord op 25 praktijkvragen

Mr. Ulrike Beuselinck en mr. Koen De Puydt (Seeds of Law)

Webinar op dinsdag 27 augustus 2024


Aansprakelijkheid van hulppersonen
in en buiten de contractketting.
Een analyse in het licht van Boek 6

Prof. dr. Ignace Claeys en mr. Camille Desmet (Eubelius)

Webinar op vrijdag 30 augustus 2024


Zekerheden: een update
aan de hand van wetgeving en rechtspraak

Mr. Ivan Peeters en mr. Philip Van Steenwinkel (Hogan Lovells)

Webinar op vrijdag 8 november 2024


Het nieuwe Boek 6 en de impact
voor de bouw- en vastgoedsector:
10 aandachtspunten

Prof. dr. Kristof Uytterhoeven (Caluwaerts Uytterhoeven)

Webinar op dinsdag 23 april 2024

PRIIPs’ KID notification procedure now set in Belgium (CMS)

Authors: Benoît Vandervelde and Guillaume Platteau (CMS)

Date of publication: 22/02/2018

A royal decree dated 25 December 2017 (the “Royal Decree”) further implements the packaged retail and insurance-based investment products (“PRIIPs”) regulation in Belgium by specifying the procedure for notifying a key information document (“KID”) to the Belgian authority (the “FSMA”). The following four points highlight the main requirements for (Belgian and foreign) manufacturers and, in some cases, sellers marketing PRIIPs in Belgium:

1. When ?

The notification obligation applies as soon as PRIIPs are distributed in Belgium (with some exemptions such as private placements). The KID must be notified prior to such distribution. For PRIIPs sold as part of a public offering in Belgium, the KID must be notified five business days before the public offering launch or, if earlier, along with the marketing materials submitted for the FSMA’s approval. If the KID is amended between its notification and the distribution or public offering, it must be re-notified.

2. Who needs to notify the KID to the FSMA?

A manufacturer marketing PRIIPs in Belgium must notify the KID to the FSMA. Even if the product is sold through intermediaries, it remains the manufacturer’s responsibility to take care of the notification to the FSMA. Also, the manufacturer can still use a third party to comply with the notification obligation, but will always remain responsible.

However, PRIIP sellers will be responsible for notifying the KID if they have no link with the manufacturer and sell those products independently.

Also note that merely providing advice regarding a PRIIP does not place a notification obligation on that adviser.

3. Language

The KID must be written in French, Dutch or English and, if distributed as part of a public offering, must be written in the language of the marketing documents.

4. How?

The KID can be notified to the FSMA via e-mail (kidnotification@fsma.be) or via its KID electronic notification platform, “FinPro” (see the FSMA communication 2017/24 regarding this platform).

The Royal Decree entered into force on 1 January 2018. The notification obligation applies to marketing PRIIPs in Belgium from that date, and, for PRIIPs currently being marketed, the manufacturer (or seller, as the case may be) has three months from 1 January 2018 to notify the KID to the FSMA.

Read the original article here