Banking, Finance and Insurance Commission (Belgium)


The Banking, Finance and Insurance Commission was the financial regulatory agency for Belgium. It was replaced by a new agency, the Financial Services and Markets Authority on 1 April 2011 as part of a restructuring of the financial regulatory system in Belgium.

History

The CBFA was formed in 2004 with the merger of Insurance Supervisory Authority, which was originally created in 1975, and the Banking and Finance Commission, which was created in 1935, to form a single agency to regulate all financial markets in Belgium.
It was replaced by the Financial Services and Markets Authority when the Law of 2 July 2010 was implemented. This was to develop the supervision of the financial sector towards a bipartite model known as the "Twin Peaks" model. This bipartite model is intended to provide a structure for the two major objectives of the supervision of the financial sector;