Update of Knowledge Requirements for the FSMA-Recognized Exam in Banking and Investment Services – Willems Law

he Belgian financial sector is known for its strict regulations and strong focus on consumer protection. One of the most important laws in this context is the Willems Law, which has been in force since 1 July 2006. This law provides the foundation for high-quality intermediation in banking and investment services and sets clear knowledge requirements for professionals.

Its goal is to ensure transparency, professionalism, and trust in the financial sector. It therefore imposes minimum knowledge requirements on anyone involved in the intermediation or advisory of banking and investment services, ensuring service consistency and quality while keeping consumer protection at the center. The law applies to bank employees in commercial client contact, independent agents and intermediaries, as well as effective managers of intermediation offices.

Regulated activities include, among others, the intermediation of banking services such as opening accounts, advising on savings and investment products, and all commercial actions that influence a client’s choice.

To comply with the law, professionals must obtain a recognized certificate via an FSMA-recognized exam that demonstrates their knowledge of products, legislation, and compliance, or they must be exempted based on strict diploma requirements. In addition, regular CPD is mandatory to keep knowledge up to date. Working according to strict compliance and transparency rules is also a core requirement.

The financial world is evolving rapidly. That is why the knowledge requirements of the Willems Law have been thoroughly updated. Febelfin Academy and BZB have tackled this in collaboration with the sector. The update particularly addresses adapted compliance and anti-money laundering legislation, digital transformation and new payment methods, value-added advisory services, and sustainability aspects.

Professionals can prepare for FSMA-recognized exams through a combination of learning methods: remote, online, or classroom coaching.

Do you want to learn more about the updated knowledge requirements or prepare your team for the future? Discover Febelfin Academy’s offerings and take the step towards a compliant and customer-focused policy.