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FSMA communication on the application of the Belgian rules on unfair contract terms to investment instruments


15 February 2017

On 6 February 2017, the Belgian FSMA published a communication in which it sets out its position on the application of the Belgian consumer protection rules on “unfair contract terms” to investment instruments offered in Belgium. This communication is particularly relevant for any issuer or manager involved in an offering of securities in Belgium, as it may have a direct impact on an issuance’s terms and conditions and on its target market. In this eAlert, we discuss a number of key points to take into account, both for existing programmes and for future transactions.

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