Q&A: Belgian watchdog on Mifid, Priips, war on complexity

Belgian markets watchdog defends its curbs on one of world’s structured products capitals

belgium
Moratorium has been a success, says FSMA

In the dogged march on the European structured products industry by the continent's regulators, the Belgian Financial Services and Markets Authority (FSMA) stands proudly in the vanguard.

On August 1, 2011, the regulator took the bold step of imposing a voluntary moratorium on the financial sector, under the terms of which dealers and distributors vowed not to issue products deemed "particularly complex" - a criterion defined by way of an FSMA test. The vast majority of credit institution, insur

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