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Belgian Transactional Group Newsletter: June 2016

In this issue:

M&A transactions involving banks: The role of the National Bank of Belgium and the European Central Bank in obtaining regulatory clearance
The acquisition of a qualifying interest in credit institution requires clearance by the competent financial supervisory authorities. The successful completion of the ownership control procedure is one of the crucial steps in every M&A transaction or reorganization involving banks. While the statutory framework for the ownership control procedure has already been harmonized throughout the European Union on the basis of the Acquisitions Directive (2007/44/EC), the introduction of the Single Supervisory Mechanism (SSM) with the European Central Bank (ECB) taking on a key role in the supervision of banks in the Eurozone has brought important changes to the procedure and the authorities involved.

Belgian Transactional Practice boosts capabilities
Belgian Transactional Practice boosts its banking capabilities and transatlantic development with new Local Partner Hadrien Servais.

Belgian Class Actions now open to EU consumer protection organizations
By decision of 17 March 2016, the Belgian Constitutional Court partially annulled the Belgian Class Action Law for being discriminatory vis-à-vis EU consumer protection organizations of other Member-States.

Belgian criminal settlement regime declared partially unconstitutional
On 2 June 2016, the Belgian Constitutional Court ruled that a part of the Belgian criminal settlement regime is unconstitutional.

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