European Fraud Protection Group

Belgium

Financial Services and Markets Authority (FSMA)

https://www.fsma.be

The Financial Services and Markets Authority (FSMA) is Belgium's financial services and markets authority, responsible for supervising financial markets and listed companies, and for ensuring that financial products and services comply with applicable rules. The FSMA has been one of the most proactive European regulators in combating investment fraud, maintaining extensive warning lists and conducting public awareness campaigns. Belgium was among the first EU countries to ban the advertising of certain high-risk financial products to consumers.

How to File a Complaint

1

The FSMA accepts complaints and reports through its online form at fsma.be under the "Consumers" section.

2

Complaints can be submitted in French, Dutch, or English.

3

Provide the entity's name, website, and all relevant documentation including transaction records and correspondence.

4

The FSMA provides a dedicated search tool for checking whether a company is authorised and whether it appears on the FSMA warning list.

5

For disputes with authorised financial firms, the Ombudsfin (financial services ombudsman) provides independent mediation.

6

The FSMA has the power to order the blocking of websites used by unauthorised entities operating in Belgium.

Register & Verification

The FSMA maintains a publicly accessible register of authorised entities at fsma.be. The FSMA's warning list is particularly comprehensive and is updated frequently, making it one of the most reliable resources for checking entities suspected of operating without authorisation in Belgium.

Key Regulations

  • Law of 2 August 2002 on the supervision of the financial sector -- Belgium's primary financial supervision law.
  • Royal Decree implementing MiFID II requirements for Belgian investment firms.
  • Law of 18 September 2017 on the prevention of money laundering -- implementing AMLD.
  • Ban on advertising of binary options, CFDs (with leverage), and crypto-assets to Belgian consumers.

Typical Timelines

The FSMA acknowledges reports and may provide guidance on next steps. Ombudsfin mediation proceedings typically take 3-6 months. The FSMA can issue warnings and website blocking orders relatively quickly. Belgium's ban on advertising high-risk products has been effective in reducing the number of complaints related to certain product categories.

Warning List

https://www.fsma.be/en/warnings

Need Advisory Support?

If you have been affected by financial fraud and require structured advisory support, submit your case for a free preliminary assessment.

Request Case Assessment