Legislator Jurisprudence & Législation
ECLI:BE:CASS:2018:CONC.20180622.1 ECLI:BE:CASS:2018:CONC.20180622.1 Généré par l'IA

Court holds financial intermediary's information duty depends on client's knowledge level and operation type.

Numéro de cause ECLI:BE:CASS:2018:CONC.20180622.1
Autorité / Tribunal
Juridiction Belgique (BE)
Date de la décision
Issue du litige Admis (Allowed)

Synthèse Legislator

Généré par l'IA

The Cour de cassation upheld the lower court's finding that a financial intermediary's duty to inform varies based on the client's sophistication and the specific instrument involved. The plaintiff argued for a uniform standard of disclosure, while the defendant contended that the duty should be tailored to the client's actual knowledge. The court ruled that the scope of the information obligation must be assessed relative to the degree of the client's knowledge regarding the targeted operation.

Regeste Legislator

Généré par l'IA

Loi du 06-04-1995, Art. 36, 2° et 5°: The extent of a financial intermediary's duty to inform regarding financial instrument operations is evaluated based on the degree of knowledge of the client to whom the information is directed.

Mots-clés

Généré par l'IA
financial intermediary duty information obligation scope client knowledge level financial instruments operation tailored disclosure standard intermédiaire financier responsabilité du conseiller en placements escroquerie aux placements

Dispositions légales citées

Généré par l'IA
Loi du 06-04-1995, Art. 36, 2° et 5°
Thésaurus Cassation: INVESTISSEMENTS Mots libres: Intermédiaire financier - Devoir d'information - Etendue - Appréciation Bases légales: Loi - 06-04-1995 - Art. 36, 2° et 5° - 77 Lien ELI No pub 1995003337
Généré par l'IA
ECLI:BE:RVSCE:2022:ARR.255.154
Conseil d'État dismisses annulation and suspension requests against FSMA's deregistration of a credit intermediary. The court rejects the claim that a prior judgment prevents deregistration. The court upholds the FSMA's right to enforce regulatory compliance and professional bans. The decision confirms that deregistration is mandatory when an intermediary fails to remedy identified violations within the prescribed deadline. The court emphasizes that the authority cannot be bound by prior judicial findings regarding the nature of professional bans. The ruling affirms the FSMA's discretion in setting reasonable deadlines for regularization. The court orders the applicant to bear all procedural costs and penalties. The decision clarifies that administrative deregistration remains valid despite conflicting judicial interpretations. The court maintains that the FSMA's duty to enforce regulations overrides the applicant's arguments. The judgment reinforces the strict application of professional conduct codes in financial services. The ruling establishes that failure to comply with regulatory orders leads to automatic deregistration. The court concludes that the applicant's attempt to resume activities was insufficient to halt proceedings.
ECLI:BE:RVSCE:2026:ARR.266.337
Court dismisses suspension request against FSMA's deregistration decision due to lack of serious grounds.
ECLI:BE:RVSCE:2018:ARR.242.374
Court dismisses urgent execution suspension request after plaintiff withdraws suit following opposing party's decision to revoke registration.
ECLI:BE:RVSCE:2019:ARR.243.524
Belgian administrative court dismisses annulation request due to failure to pay court fees within statutory deadline.
ECLI:BE:RVSCE:2026:ARR.266.718
Belgian Council of State rejects annulation appeal but orders reopening of damages proceedings due to procedural irregularities.

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Texte complet

Fiche 1 L'étendue du devoir d'information de l'intermédiaire financier relativement à une opération sur instruments financiers s'apprécie en fonction du degré de connaissance du client auquel l'information est destinée (1). (1) Voir les concl. du MP. Thésaurus Cassation: INVESTISSEMENTS Mots libres: Intermédiaire financier - Devoir d'information - Etendue - Appréciation Bases légales: Loi - 06-04-1995 - Art. 36, 2° et 5° - 77 Lien ELI No pub 1995003337

Fiche 2 Conclusions de l'avocat général de Koster. Thésaurus Cassation: INVESTISSEMENTS Mots libres: Intermédiaire financier - Devoir d'information - Etendue - Appréciation