Home > News > COVID-19 - Impact on Financial Sector - 13 May 2020
Print pageprint Stay Informedprint


COVID-19 - Impact on Financial Sector - 13 May 2020


Please find below a summary of COVID-19 developments relevant to our clients; these alerts are dedicated to following up on the financial  regulators’ responses to the crisis. We have also created a COVID-19 Resource Center to offer legal and business insights as this crisis continues to evolve. We wish you and your loved ones well.

If you have any questions please feel free to contact: 

Tom Van Dyck
+32 475 90 90 91

Freya Mareels 
+32 475 25 11 50

Wim Dedecker
+32 491 36 03 99



State aid: Commission approves €25 million Belgian aid scheme to support coronavirus related research and development activities in Wallonia

The European Commission has approved a €25 million Belgian aid scheme to support coronavirus related research and development in Wallonia. The scheme was approved under the State aid Temporary Framework. In particular, the aid will cover 80% of the relevant R&D costs for SMEs, and 60% for large enterprises. Furthermore, any results of the research activities will be made available to third parties in the EEA through non-exclusive licences.

The public support will take the form of direct grants and repayable advances. The scheme is open to all companies active in Wallonia that are capable of carrying out R&D projects relevant to the coronavirus outbreak. The aim of the scheme is to find solutions to respond to the current health crisis, among others via diagnostic solutions and the development and validation of treatments and vaccines. 


COVID-19: investment service providers are given an extension until 1 september 2020 to enter the information on investment services (‘cartography’) required under MiFID

Each year, companies subject to the MiFID rules must provide the FSMA with data for its code of conduct risk model by 30 June.  However, the FSMA is aware of the fact that the lockdown imposed by the government in light of the COVID-19 pandemic may have rendered it difficult to gather the necessary information. Therefore, the FSMA has decided to grant an extension to these companies until 1 September 2020 to enter their MiFID cartography data.

Copyright - Please do not quote without permission. Please note that this alert is not a legal advice.