Belgium – Country Manual Private Banking – Update 2021

Apr 8, 2021

Country Manuals Private Banking

We would like to inform you that BRP has updated its COUNTRY MANUAL PRIVATE BANKING for the following jurisdiction:


Behaviour Template
Without affecting the ratings, the answers contained in the Chapter Performing Advisory Services have been amended with respect to:
– Sub-Chapters 1.1.1 Macroeconomic Information and 1.1.2 Research Material – actively in the target country (including in reverse solicitation) and remotely into the target country (new answers = Provided no personal investment advice or recommendation is given or orders are solicited),
– Sub-Chapters 1.1.3 Generic Recommendation Lists and 1.1.4 Personalised Recommendation Lists – actively via remote means of communication into the target country (new answers = Permitted in presence of an advisory agreement concluded in compliance with cross-border rules).

BT Short Comparison
BRP has created a comparison document allowing users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “BELGIUM” in the Target Country Field.

The BT Short Comparison should be read as follows:
The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.

Best regards,