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Briefing

Belgian Brexit Law - Impact on financial services

Yesterday, 28 March 2019, the Belgian parliament approved the law on the withdrawal of the UK from the European Union (the Belgian Brexit Law). The Belgian Brexit Law forms part of a number of measures taken by the Belgian government to prepare for a Brexit without a withdrawal agreement.

This briefing focusses on the impact on financial services of the Belgian Brexit Law. Chapter 1 of Title 6 (Finances) provides measures in relation to the provision of financial services post Brexit. It aims to respond temporarily to the main difficulties posed by Brexit by (i) amending the law of 25 October 2016 on the access to the investment services business and the status and control of portfolio management and investment advisory companies (the Investment Services Law) and (ii) granting powers to government to take further measures in relation to regulated markets, MTFs and OTFs and in relation to contract continuity.

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