Belgium's structured products moratorium hastens rise in private banking activity

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When retail banks got their first taste of the Belgian Financial Services and Markets Authority (FSMA) moratorium last year, the restriction on the distribution of structured products deemed too complex for retail investor’s shook up the market in Belgium. And as the regulatory environment gets tougher for retail banks, the country's private banks are taking the opportunity to gain a foothold in the market by catering to the needs of high-net-worth investors.

“The FSMA's moratorium applies to th

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