Scope

This AML/CFT website is intended for the entities which fall under the supervisory competence of the NBB and which are referred to in Article 5, § 1, 4° to 10° of the Anti-Money Laundering Law and in Article 2 of the Anti-Money Laundering Regulation of the NBB. These institutions are collectively referred to as ‘financial institutions’ on this website.

They are the following institutions, acting in the exercise of their professional regulated activities:

  1. a) credit institutions as referred to in Article 1, § 3, first paragraph, of the Law of 25 April 2014 on the legal status and supervision of credit institutions and stockbroking firms, which are governed by Belgian law;
    b) branches in Belgium of credit institutions as referred to in Article 1, § 3, first paragraph, of the same law, which are governed by the law of another Member State or of a third country;
    c) credit institutions as referred to in Article 1, § 3, first paragraph, of the same Law, which are governed by the law of another Member State and rely on a tied agent established in Belgium in order to perform investment services and/or activities within the meaning of Article 2, 1°, of the Law of 25 October 2016 on access to the activity of investment services and on the legal status and supervision of portfolio management and investment advice companies as well as ancillary services within the meaning of Article 2, 2°, of the same Law in Belgium;
    d) credit institutions as referred to in Article 1, § 3, first paragraph, of the same Law, which are governed by the law of another Member State and rely on an agent established in Belgium to provide services there consisting of receiving deposits or other repayable funds within the meaning of Article 4, 1) of the same Law;
  2. a) insurance companies governed by Belgian law as referred to in Book II of the Law of 13 March 2016 on the legal status and supervision of insurance or reinsurance companies, which are authorised to engage in the life insurance activities referred to in Annex II of the same Law;
    b) branches in Belgium of insurance companies governed by the law of another Member State or of a third country, as referred to, respectively, in Articles 550 and 584 of the same Law, which are authorised to engage in the life insurance activities referred to in Annex II of the same Law in Belgium;
  3. a) payment institutions governed by Belgian law as referred to in Book 2, Chapter 1, Title 2 of the Law of 21 December 2009 on the legal status of payment institutions and electronic money institutions, access to the activity of payment service provider, access to the activity of issuing electronic money, and access to payment systems;
    b) branches in Belgium of payment institutions governed by the law of another Member State or of a third country, as referred to, respectively, in Articles 39 and 46 of the same Law;
    c) payment institutions granted exemption under Article 48 of the same Law;
    d) payment institutions as referred to in Article 4(4) of Directive 2015/2366/EU of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC, governed by the law of another Member State and offering payment services in Belgium through one or more persons established in Belgium who represent the institution for that purpose;
  4. a) electronic money issuers as referred to in Article 59, 4° and 5° of the aforementioned Law of 21 December 2009;
    b) electronic money institutions governed by Belgian law as referred to in Book 3, Chapter 1, Title 2, of the same Law;
    c) branches in Belgium of electronic money institutions governed by the law of another Member State or of a third country as referred to, respectively, in Article 91 and in Book 3, Chapter 3, Title 2 of the same Law;
    d) electronic money institutions granted exemption under Article 105 of the same Law;
    e) electronic money institutions as referred to in Article 2(1) of Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC, governed by the law of another Member State and distributing electronic money in Belgium through one or more persons established in Belgium who represent the institution for that purpose;
  5. central securities depositories as defined in Article 36/26/1 of the Law of 22 February 1998 establishing the organic statute of the National Bank of Belgium;
  6. mutual guarantee societies as referred to in the Royal Decree of 30 April 1999 on the legal status and supervision of mutual guarantee societies;

  7. a) stockbroking firms as referred to in Article 1, § 3, second paragraph, of the Law of 25 April 2014 on the legal status and supervision of credit institutions and stockbroking firms governed by Belgian law;
    b) branches in Belgium of stockbroking firms as referred to in Article 1, § 3, second paragraph, of the same Law which are governed by the law of another Member State or of a third country;
    c) stockbroking firms as referred to in Article 1, § 3, second paragraph, of the same Law, which are governed by the law of another Member State and rely on a tied agent established in Belgium in order to perform investment services and/or activities within the meaning of Article 2, 1°, of the Law of 25 October 2016 on access to the activity of investment services and on the legal status and supervision of portfolio management and investment advice companies as well as ancillary services within the meaning of Article 2, 2°, of the same Law in Belgium.

For the financial institutions for which this website is intended, the applicability of the Law and of the Anti-Money Laundering Regulation of the NBB and the scope of this AML/CFT website are determined by two factors:

  • the nature of the professional activity exercised by the entity concerned;
  • the establishment on Belgian territory.

It follows from the principle of territorial application of the legal and regulatory AML/CFT provisions that the provisions of the Law and of the Anti-Money Laundering Regulation of the NBB apply to and that this AML/CFT website concerns the following entities:

  • financial institutions governed by Belgian law;
  • financial institutions governed by the law of another EEA Member State or of a third country and established on Belgian territory in order to offer financial services or products in Belgium, irrespective of whether that establishment takes the form of:
    • a branch in Belgium;
    • one or more tied or independent agents or distributors established in Belgium who act in the framework of agency contracts with the financial institution, that does not itself have another form of establishment on Belgian territory. This covers (i) credit institutions and stockbroking firms which are governed by the law of another EEA Member State and rely on a tied agent established in Belgium in order to perform investment services and/or activities, (ii) credit institutions which are governed by the law of another EEA Member State and rely on an agent established in Belgium to provide services there consisting of receiving deposits or other repayable funds, and (iii) payment institutions and electronic money institutions governed by the law of another EEA Member State or of a third country and respectively offering payment services or distributing electronic money in Belgium exclusively through agents or distributors.

The financial institutions governed by the law of another EEA Member State or of a third country that offer financial services or products in Belgium without having any form of establishment in Belgium, are however subject to the legal and regulatory provisions of the country by whose law they are governed and of the other countries in which they may have an establishment.  The provisions of the Law and the Anti-Money Laundering Regulation of the NBB do not apply to them and a fortiori they do not belong to the target group of this website.

For more information on the general scope of the Anti-Money Laundering Law, see the preparatory works of the Anti-Money Laundering Law (Law of 18 September 2017 and amending Laws) (see the page “Main reference documents”).

Disclaimer: This English text is an unofficial translation and may not be used as a basis for solving any dispute