Press release

Ageas's appeal in cassation in the French speaking proceedings about FSMA case dismissed

Today Ageas announces that the Belgian Supreme Court has dismissed Ageas's appeal in cassation in the French speaking proceedings in the context of the dispute on the administrative fine imposed by the FSMA for alleged miscommunication in June 2008.

The dismissal means that the fine of EUR 250,000 already paid by Ageas in 2015 has become irrevocable.

Background information:

In June 2013 the Sanctions Commission of the FSMA imposed a EUR 500,000 fine on Ageas for miscommunication by Fortis during the period May-June 2008.

Ageas appealed the FSMA decision before the Brussels' Court of Appeal in Dutch speaking and French speaking proceedings. In September 2015, the Court in the French speaking proceedings fully annulled the decision of the Sanctions Commission of the FSMA, and consequently, ruled again and decided to impose a reduced fine of EUR 250,000 on Ageas for misleading statements made on 12 June 2008.

In August 2016, Ageas filed an appeal against this decision before the Belgian Supreme Court, and did the same in April 2017 against the Brussels' Court of Appeal's decision in the Dutch speaking proceedings.

On 9 November 2018 the Belgian Supreme Court dismissed Ageas's appeal in cassation in the Dutch speaking proceedings (press release 088).