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Compliance Training for Financial Professionals in Belgium: A Must-Have Certification

In today’s rapidly evolving financial landscape, providing high-value advice to clients is paramount. To build trust with customers, professionals must possess in-depth knowledge of the regulations governing their industry. The Belgian Financial Services and Markets Authority (FSMA) plays a crucial role in overseeing compliance, requiring intermediaries to register as certified compliance officers.

Who Needs to Take the Exam?

To achieve this recognition, financial professionals must meet specific legal conditions, including passing an exam administered by Febelfin Academy, an FSMA-approved examination provider. Compliance officers seeking recognition from the FSMA must:

  • Have relevant experience
  • Hold a Master’s degree
  • Demonstrate thorough knowledge of regulations
  • Possess legal assistance insurance
  • Demonstrate professionalism and trustworthiness

Regulated Companies and Compliance Officers

The exam is mandatory for:

  • Investment firms
  • Management companies
  • Credit institutions
  • Insurance enterprises
  • Branches of such institutions operating in Belgium under foreign laws

Compliance officers targeted by the recognition procedure are those responsible for tasks under the direct supervision of an institution’s effective management, including senior-level professionals who lead compliance units or oversee code of conduct enforcement.

Key Responsibilities

Recognized compliance officers will perform tasks such as:

  • Monitoring and evaluating policies, procedures, and measures to ensure compliance with regulations
  • Advising and assisting colleagues in meeting their obligations

Examination Modules

Candidates must complete six modules:

Ethics and Integrity

Code of Conduct for Financial Instruments and Insurance

Code of Conduct for Traditional Banking Products

Prevention of Money Laundering and Financing of Terrorism

Products and Product Information

Markets

The program involves self-study on Febelfin’s learning platform, followed by a theory exam, three classroom workshops, and a practical exam.

Conclusion

In conclusion, compliance training is essential for financial professionals in Belgium to build trust with clients, maintain FSMA recognition, and perform their duties effectively. The Certified Compliance Programme exam offers a valuable opportunity to demonstrate expertise and advance in the industry.