Q&A: Jean-Paul Servais on the FSMA's moratorium
The chairman of the Belgian Financial Services and Markets Authority gives his views on structured products and offers insights into the new regulations that are to be introduced this year
SP: What were the rules in Belgium for structured products prior to the Lehman Brothers bankruptcy?
Jean-Paul Servais: Prior to the creation of the Financial Services and Markets Authority (FSMA) in April 2011, Belgium's financial sector supervisory body was called the Banking, Finance and Insurance Commission (CBFA). It was a single regulator, supervising the Belgian market. Up until 2008, before the collapse of Lehman Brothers, the rules covering structured products in Belgium were fully
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