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Decision of the FSMA Sanctions Commission in the Nyrstar case challenged before the Market Court
The Market Court recently received a petition for the annulment and reform of the decision of the Sanctions Commission of financial watchdog FSMA in the Nyrstar case. The commission had found Nyrstar NV guilty of market manipulation. The company was fined €80,000, but its board members were acquitted. The commission ruled that there had been insufficient investigation into their individual roles in the manipulation. That ruling is now being challenged. The ball is therefore i
Nov 52 min read


Complex Governance Reduces Belgium’s Market Watchdog to a Wagging Puppy
“Together, we can make our societies open for business but closed for crime.” The words of Belgian Prime Minister Bart De Wever at the United Nations still resonate as I work my way through the 146-page decision of the FSMA Sanctions Committee on market manipulation at Nyrstar NV. The Committee’s mandate was clear: to determine the sanctions for four violations identified by the FSMA’s auditor after years of investigation. His exhaustive reports left little doubt that Nyrstar
Oct 145 min read


Delayed criminal investigation undermines investor confidence
Minority shareholders who suffer huge losses are left waiting for years, while courts, despite their best efforts, lack the resources to...
Sep 232 min read


FSMA considers direct summons
The imminent introduction of multiple voting rights is currently sparking controversy in the media over whether sufficient consideration...
Sep 52 min read


Protect minority shareholders when introducing multiple voting rights
Listed companies will soon be able to introduce multiple voting rights in addition to double voting rights. Without robust checks and...
Sep 43 min read


Strong enforcement builds trust—and trust is the foundation of well-functioning markets.
The enforcement committee of the FSMA is expected to rule on the Nyrstar case shortly. It is high time, as it has been more than six...
Sep 32 min read


Nyrstar Deserves Resolve, Not Defeatism
Is Nyrstar’s board of directors truly caught between a rock and a hard place? That metaphor positions the board as a victim. In reality,...
Aug 13 min read


Independent director or loyal spokesperson?
The financial newspaper De Tijd published an opinion by Kris Vansanten in which he argues that Nyrstar should finally act in line with...
Jul 312 min read


The EU dreams of autonomy, but is selling its future to the highest bidder.
“You're losing.” With these harsh words, Jamie Dimon, CEO of the world's largest bank, addressed Europe today in the Financial Times....
Jul 102 min read


Board of Directors under fire at General Assembly Nyrstar NV : €5 million per year for an empty shell
Minority shareholders sound the alarm about poor governance, conflicts of interest, mismanagement, and excessive spending. Nyrstar NV, a...
Jun 255 min read


The Nyrstar case: can justice still be done?
‘It seems that the justice system wants to send a strong message to politicians’, this week in Trends Tendances. Does the justice system...
Apr 61 min read
How do you commit a hold-up on a Belgian listed company?
How do you commit a hold-up on a publicly traded company in Belgium? By applying a cuckoo strategy, as this video explains in less than...
Mar 141 min read


Acquisition of Belgian flagship Nyrstar: hidden reports that embarrass Trafigura
'The biggest robbery in Belgian industrial history' is how Le Vif magazine describes Trafigura's role in the takeover of Nyrstar's...
Mar 72 min read


A Battle for Accountability
A true David versus Goliath story. The small shareholder against one of the most powerful companies in the world, Trafigura, which turns...
Feb 51 min read


Reflections around the hearing to strengthen Belgium's capital market
"The protection of minority shareholders and the strengthening of the Belgian capital market require well-founded analysis and policy....
Jan 281 min read


Do we only miss the stock market when it is dying?
An article that speaks volumes! The Brussels stock exchange is dying a slow death", writes Peter De Groote in De Tijd. Is that...
Jan 232 min read


New initiative should improve ethics and governance among auditors
A new international project aims to improve the culture and governance of accountancy firms worldwide, reduce the risk of unethical...
Jan 221 min read


Reality Check: Is Nyrstar’s $300 Million Loss a Real Crisis or Just Creative Accounting?
Is Nyrstar really suffering a $300 million loss due to historically low zinc processing wages, as a recent article in De Tijd seems to...
Jan 102 min read


Mithra, Biocartis, Nyrstar: are small shareholders being abandoned?
This is a great victory in our fight for better protection of minority shareholders in Belgium! Today marks an important milestone in our...
Nov 26, 20242 min read


Parliament to consider better protection for small shareholders
A major victory in our fight for better protection for minority shareholders! Today marks an important milestone in our ongoing fight for...
Nov 26, 20241 min read
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