Banking, Finance and Insurance Commission (Belgium)

Banking, Finance and Insurance Commission
Commissie voor het Bank-, Financie- en Assurantiewezen
Commission Bancaire, Financière et des Assurances
Agency overview
Formed January 1, 2004 (2004-jan-01)
Dissolved March 31, 2011 (2011-mar-31)
Superseding agency
Jurisdiction Belgium
Headquarters Brussels, Belgium
Agency executive
  • Eddy Wymeersch, Chairman
Website http://www.cbfa.be

The Banking, Finance and Insurance Commission (CBFA) (Dutch: Commissie voor het Bank-, Financie- en Assurantiewezen, French: Commission Bancaire, Financière et des Assurances) was the financial regulatory agency for Belgium. It was replaced by a new agency, the Financial Services and Markets Authority (FSMA) on 1 April 2011 as part of a restructuring of the financial regulatory system in Belgium.[1]

History

The CBFA was formed in 2004 with the merger of Insurance Supervisory Authority (Dutch: Controledienst voor de Verzekeringen CDV), which was originally created in 1975, and the Banking and Finance Commission (Dutch: 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 (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;[2]

See also

References

  1. Simon Danaher (April 12, 2011). "Belgium restructures financial regulation". International Advisor.
  2. "About FMSA - Powers". FMSA. Retrieved June 18, 2011.

External links


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