The capital market in Belgium is regulated by two autonomous supervisors: the Financial Services and Markets Authority (L’Autorité des services et marchés financiers) and the National bank of Belgium.
The various companies in the Belgian financial sector are under permanent supervision and different aspects of their business are monitored by the two supervisory authorities.
The National Bank of Belgium (NBB) and the Financial Services and Markets Authority (FSMA) have specific objectives. The two supervisory authorities have clearly determined roles in financial supervision.
The National Bank of Belgium is in charge of prudential supervision and is responsible for the prudential supervision of credit institutions, investment firms and insurance companies.
The Financial Services and Markets Authority is responsible for financial market supervision and consumer protection.
The FSMA protects the interests of the Belgian financial consumers. It ensures that they are treated fairly and at the same time it makes sure that the financial market is transparent and the listed companies provide complete and correct information. The FSMA is also in charge of supervising financial products, financial service providers and supplementary pensions.
The National Bank of Belgium monitors the following institutions within the financial system:
The FSMA is responsible for the supervision of: