Following the right procedures more important than ever when in financial distress
As the spread of Covid-19 undoubtedly has a huge impact on the economy, a significant number of companies will very likely be confronted with losses, possibly putting the going-concern of their business into question. Besides the necessary disclosure in the annual management report so as to reflect and elaborate on such impact in the “post-closing”
Administrative tolerance with respect to the UBO-register: no fines until 31 December
In previous news flashes we already informed you about the implementation of the UBO-register, the extension of the deadlines and the updates of the Frequently Asked Questions (FAQ). In the UBO-register, all legal entities need to register their ultimate beneficial owners. The deadline for the registration is set at 30 September 2019. In the absence
Belgian subsidiaries of a listed company to register their corporate structure in the UBO-register
In previous news flashes we already informed you about the implementation of the UBO register, the extension of the deadlines and the updates of the Frequently Asked Questions (FAQ). In the updated version of the FAQ, published on 19 July 2019, the Belgian authorities stated that listed companies are exempted from registering their UBO’s if
Listed companies and the UBO register: not always an exemption!
In previous news flashes we already informed you about the implementation of the UBO register, the extension of the deadlines and the updates of the Frequently Asked Questions (FAQ). In the updated version of the FAQ published on 19 July 2019 the Belgian authorities stated that listed companies are exempted from registering their UBO’s if they are subject
Frequently Asked Questions on Belgian UBO register: new update
In previous news flashes we already informed you about the implementation of the UBO register, the extension of the first registration deadline and a first update of the frequently asked questions. After a first update on 2 April 2019, the Federal Public Service Finance (FPSF) published a new version of the frequently asked questions (FAQ) on
Shareholder Rights Directive II. Financial institutions, are you prepared?
In May 2017, the European Parliament and the Council approved Directive (EU) 2017/828 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement (the Shareholder Rights Directive II or SRD II). The due date of 10 June 2019 for the transposition of this new Directive into national law is approaching fast. So far, the
New information (FAQ) on the Belgian UBO-register
We already informed you about the introduction and extension of the deadline of the register of Ultimate Beneficial Owners (UBO-register). On 2 April 2019 the Federal Public Service Finance (FPSF) published an updated version of the document with frequently asked documents (FAQ). The updated FAQ clarifies, amongst others: Who to register as UBO in
Registration to the UBO register: extension of the deadline until 30 September
We already informed you about the introduction in Belgium of a register regarding the Ultimate Beneficial Owners (UBO’s) of legal entities. Initially, the information on the UBO’s needed to be registered by 30 November 2018. However, the deadline had been extended till 31 March 2019 by the Federal Public Service Finance (FPSF) taken into account
