Belgium is in need of a better financial supervision, because privates are easy convinced of risky financial products. Consumer protection is very important that is why watchdog CBFA (Commissie voor het Bank-, financie- en assurantiewezen) will get a lot of extra power. The bank commission will get a right of veto on all financial advertising, so they can keep the banks under control. They will impose specific conditions to the financial institutions and when it is necessary the watchdog will withdraw the products from the market.There is some talk of an advisory committee to involve the savers in their own protection.
Emmy D'Haeye
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