Adaptations brought to the law on financial restrictive measures

Date:
15 July 2019

On May 21st 2019, the law of May 2nd 2019 laying down various financial provisions has been published in the Belgian Official Journal.  This law implements among others the following changes as regards the financial restrictive measures:

  1. The assets freeze measures laid down by the UN Security Council must be immediately implemented in Belgium and they do not need to be confirmed by a ministerial decree.

  1. The implementation of the Council Regulation 2271/96, which is also called “Blocking statute”, in order to protect the European enterprises against among others the effects of extra-territorial application of new measures taken by the United States against Iran,

  1. It has been specified that the General Administration of the Treasury of the FPS Finance is competent in order to look for and to record any breach of the financial restrictive measures.

You will find more information in Downloadable file the detailed explanation of these adaptations (PDF, 329.89 KB).

Yours sincerely,

Compliance

Service Control of Financial Instruments and Institutions