View source for Commission Bancaire, Financière et des Assurances

The '''Banking, Finance and Insurance Commission''', Belgium (CBFA) supervises most financial institutions and financial services offered to the public. It was created by royal decree in 2004 as a result of the merger of the [[Banking and Finance Commission]] and the [[Insurance Supervisory Authority]].

The [[CBFA]] aims to protect of savers and policy-holders, ensure public confidence in financial products and services, and oversee the proper operation of markets in financial instruments. 

It is financed through contributions from the companies it regulates. 


==Decision-Making Bodies==
The CBFA had four decision-making bodies:<ref>CBFA, "[http://www.cbfa.be/eng/aboutcbfa/pres/pdf/presentation.pdf The Banking, Finance and Insurance Commission, An introduction]," 01 December 2007, accessed 01 April 2009.</ref>


===The chairman of the Management Committee===
:[[Jean-Paul Servais]]: Appointed on 20 April 2007. Before that he was deputy chairman of the CBFA, responsible for Supervision of Financial Information and Markets.<ref>CBFA, [http://www.cbfa.be/eng/publications/ver/pdf/cbfa_2006.pdf Annual Report 2006], accessed 01 April 2009.</ref>

===The Management Committee===
The Management Committee is the CBFA’s decision-making body. It makes all decision except where fines or penalties are to be decided (this is done by the Supervisory Board - see below). The Management Committee comprises the chairman of the Management Committee and between four and six members – half of which must be on the Board Directors of the [[National Bank of Belgium]] (NBB). Current members are:

:Prof [[Michel Flamée]], Vice-Chairman: Professor at the Economic and Financial Law Centre of the Free University of Brussels since 1989. Since February 2007, Flamée has been the Chairman of the [[International Association of Insurance Supervisors]] after serving as Vice Chairman since 2004.<ref>LLOYD'S, [http://www.lloyds.com/News_Centre/Events/Speakers/Michel_Flamee.htm Michael Flameé], accessed 01 April 2009.</ref>

:[[Henk Becquaert]]: Between 1994 and 2003 he served on the staff of several ministers, including the Flemish minister of employment and social affairs and the minister of social affairs and pensions, where he served as chief of staff (2002-2003) and director of the policy unit (2003-2004). Since 2005 he has been a special representative for supplementary pensions at CBFA.<ref>FT Global Events, [http://www.ftglobalevents.com/globalinvestment/Speakers.aspx?m_pid=0&m_nid=20153 Henk Becquaert], accessed 01 April 2009.</ref>

:[[Rudi Bonte]]: Acting Head of the Banking Supervision Department. Also a member of the Basel Committee on Banking Supervision and the Banking Supervision Committee of the [[European Central Bank]] (BSC).<ref>CEBS, [http://www.c-ebs.org/News--Communications/Archive/2007/CEBS-APPOINTS-NEW-BUREAU-MEMBERS.aspx CEBS APPOINTS NEW BUREAU MEMBERS], 31 January 2007, accessed 21 March 2010.</ref> No other information on background.

:[[Marcia De Wachter]] is a director of the [[National Bank of Belgium]]. She has worked at the NBB in various roles since July 1988.<ref>National Bank of Belgium, [http://www.nbb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_03_00_00/01_02_03_04_00.htm?l=en&t=ho Marcia De Wachter], accessed 01 April 2009.</ref>

:[[Françoise Masai]] is a director of the [[National Bank of Belgium]]. She has worked at the bank in various roles since 1971.<ref>National Bank of Belgium, [http://www.nbb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_03_00_00/01_02_03_06_00.htm?l=en Françoise Masai], accessed 21 March 2010.</ref>

:[[Peter Praet]] is a director of the [[National Bank of Belgium]]. Before joining the National Bank, he was served as chief of cabinet for the Belgian Minister of Finance from 1999-2000, as chief economist of [[Générale de Banque]] and [[Fortis Bank]] from 1988-1999, as professor of economics at the Université Libre de Bruxelles from 1980-1987, and as economist at the [[International Monetary Fund]] from 1978-1980.<ref>National Bank of Belgium, [http://www.bnb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_03_00_00/01_02_03_08_00.htm?l=en Peter Praet], accessed 01 April 2009.</ref>

===The Supervisory Board===
The Supervisory Board oversees the work of the CBFA. It is made up of a Chairman and between 10 and 14 members representing external organisations. It submits opinions to the Management Committee on the CBFA’s priorities and any regulations it plans to issue. It also approves the CBFA’s accounts. Some members also sit on a Sanctions Committee which decides on the imposition of administrative fines and penalties. Members are:

:[[Eddy Wymeersch]], Chairman: Before joining the CBFA, Wymeersch was a Regent (senior advisor) to  the [[National Bank of Belgium]] from 1992, and also a member of the legislative branch of the Council of State. Between 1990 and 2001, he was a member of the board of several (unnamed) Belgian companies.<ref>ECGI, [http://www.ecgi.org/members_directory/member.php?member_id=2 Professor Eddy Wymeersch], accessed 01 April 2009.</ref>

:[[Jean-François Cats]]: Managing Partner at [[Toelen, Cats]] – one of the leading business consultancy firms in Belgium. A Censor (advisor) to the [[National Bank of Belgium]].<ref>TCLM, [http://www.tclm-rsm.be/en/index.php?id=79 Jean-François Cats], accessed 01 April 2009.</ref>

:[[Herman Cousy]]: Director of the Centre for Risk and Insurance Studies, at the [[Catholic University of Leuven]].<ref>Katholieke Universiteit Leuven, [http://law.kuleuven.be/ccle/cv.php?id=HCO Prof. Dr. Herman Cousy], accessed 01 April 2009.</ref>

:[[Eric De Keuleneer]] is a banker. He was Head of Syndication and Trading at [[Kredietbank S.A. Luxembourgeoise]] (1981-1983); Head of Corporate Finance and New Issues, then Head of Corporate and Investment Banking at [[Générale Bank]], Brussels (1983 to 1995); and President of the Executive Committee of finance company [[OCCH]] – called Credible since May 2001 (from 1995 to date).<ref>Université Libre de Bruxelles, [http://dev.ulb.ac.be/cours/solvay/dekeuleneer/php/index.php?origine=perso&source=home Eric De Keuleneer], accessed 01 April 2009.</ref>

:[[Christian Dumolin]]: Chairman and CEO of investment company [[Koramic Investment Group]]. Also a Censor (advisor) to the [[National Bank of Belgium]].<ref>CVC Capital Partners, [http://www.cvc.com/Content/EN/OurPeople/AdvisorDetails.aspx?CID=7384 Christian Dumolin], accessed 01 April 2009.</ref>

:[[Martine Durez]]: Chairwoman of the Board of the [[Belgian Post Office]] and Regent at the [[National Bank of Belgium]].<ref>National Bank of Belgium, [http://www.bnb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_04_00_00/durez_martine.htm?l=en Martine Durez], accessed 01 April 2009.</ref> 

:[[Jean Eylenbosch]]: Vice President of Public Affairs at [[Coca-Cola Benelux]]. Due to be voted in as a Censor of the [[National Bank of Belgium]] today (30 March 2009).<ref>National Bank of Belgium, [http://www.nbb.be/pub/01_00_00_00_00/01_05_00_00_00/secondSummons2009.htm Second summons to the general meeting 2009], 21 March 2009, accessed 01 April 2009.</ref>

:[[Hilde Laga]]: Founding partner of law firm [[Laga]].<ref>Laga, [http://www.laga.be/team/laga-hilde Hilde Laga], accessed 01 April 2009.</ref>

:[[Didier Matray]]: Lawyer at the [[Liège Bar]] and senior partner in the international law firm [[Matray Matray Hallet]]. Regent for the [[National bank of Belgium]].<ref>National Bank of Belgium, [http://www.nbb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_04_00_00/matray_didier.htm Didier Matray], accessed 01 April 2009.</ref>

:[[Pierre Nicaise]]

:[[Jean-Paul Pruvot]]: Director of [[Fortis Bank]] representing the Belgian State since 27 January 2009.<ref>Fortis Bank, [http://www.prdomain.com/upload/308/30867163.pdf Press release: Fortis Bank Board of Directors changes composition], 27 January 2009, accessed 01 April 2009.</ref> 

:[[Michel Rozie]]

:[[Marnix Van Damme]]: Professor of Constitutional and Administrative Law at the Free University of Brussels.<ref>Vrije Universiteit Brussel, [http://www.vub.ac.be/infovoor/onderzoekers/research/team.php?team_code=STBR Department of Constitutional and Administrative Law], accessed 01 April 2009.</ref>

:[[Dirk Van Gerven]]: Partner in law firm [[NautaDulith]]. Specialist in corporate and financial law.<ref>NautaDutilh, [http://www.nautadutilh.com/profile.xhtml?id=8041 Dirk Van Gerven], accessed 01 April 2009.</ref>

===The Secretary General===
Responsible for the administrative management of the CBFA and cooperation with other public institutions. 

:[[Albert Niesten]], Secretary General


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==Resources==
*CBFA, "[http://www.cbfa.be/eng/aboutcbfa/pres/pdf/presentation.pdf The Banking, Finance and Insurance Commission, An introduction]," 01 December 2007, accessed 01 April 2009.
*CBFA, [http://www.cbfa.be/eng/publications/ver/pdf/cbfa_2006.pdf Annual Report 2006], accessed 01 April 2009.
*CEBS, [http://www.c-ebs.org/News--Communications/Archive/2007/CEBS-APPOINTS-NEW-BUREAU-MEMBERS.aspx CEBS APPOINTS NEW BUREAU MEMBERS], 31 January 2007, accessed 21 March 2010.
*CVC Capital Partners, [http://www.cvc.com/Content/EN/OurPeople/AdvisorDetails.aspx?CID=7384 Christian Dumolin], accessed 01 April 2009.
*ECGI, [http://www.ecgi.org/members_directory/member.php?member_id=2 Professor Eddy Wymeersch], accessed 01 April 2009.
*Fortis Bank, [http://www.prdomain.com/upload/308/30867163.pdf Press release: Fortis Bank Board of Directors changes composition], 27 January 2009, accessed 01 April 2009.
*FT Global Events, [http://www.ftglobalevents.com/globalinvestment/Speakers.aspx?m_pid=0&m_nid=20153 Henk Becquaert], accessed 01 April 2009.
*Katholieke Universiteit Leuven, [http://law.kuleuven.be/ccle/cv.php?id=HCO Prof. Dr. Herman Cousy], accessed 01 April 2009.
*Laga, [http://www.laga.be/team/laga-hilde Hilde Laga], accessed 01 April 2009.
*LLOYD'S, [http://www.lloyds.com/News_Centre/Events/Speakers/Michel_Flamee.htm Michael Flameé], accessed 01 April 2009.
*National Bank of Belgium, [http://www.nbb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_04_00_00/matray_didier.htm Didier Matray], accessed 01 April 2009.
*National Bank of Belgium, [http://www.nbb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_03_00_00/01_02_03_06_00.htm?l=en Françoise Masai], accessed 21 March 2010.
*National Bank of Belgium, [http://www.nbb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_03_00_00/01_02_03_04_00.htm?l=en&t=ho Marcia De Wachter], accessed 01 April 2009.
*National Bank of Belgium, [http://www.bnb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_04_00_00/durez_martine.htm?l=en Martine Durez], accessed 01 April 2009.
*National Bank of Belgium, [http://www.bnb.be/pub/01_00_00_00_00/01_02_00_00_00/01_02_03_00_00/01_02_03_08_00.htm?l=en Peter Praet], accessed 01 April 2009.
*National Bank of Belgium, [http://www.nbb.be/pub/01_00_00_00_00/01_05_00_00_00/secondSummons2009.htm Second summons to the general meeting 2009], 21 March 2009, accessed 01 April 2009.
*NautaDutilh, [http://www.nautadutilh.com/profile.xhtml?id=8041 Dirk Van Gerven], accessed 01 April 2009.
*TCLM, [http://www.tclm-rsm.be/en/index.php?id=79 Jean-François Cats], accessed 01 April 2009.
*Université Libre de Bruxelles, [http://dev.ulb.ac.be/cours/solvay/dekeuleneer/php/index.php?origine=perso&source=home Eric De Keuleneer], accessed 01 April 2009.
*Vrije Universiteit Brussel, [http://www.vub.ac.be/infovoor/onderzoekers/research/team.php?team_code=STBR Department of Constitutional and Administrative Law], accessed 01 April 2009.

==Notes==
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[[Category: Financial Revolving Door| Financial Revolving Door]]