2023-05-12 16:52:00
The former socialist minister Jean-Pascal Labille is not happy. He resents being fined 12,500 euros by the FSMA, Belgium’s financial market authority, for disseminating confidential information regarding the merger negotiations between bpost and PostNL. Through the voice of his lawyer, Me Uyttendaele, he announced that he is contesting this criminal fine imposed in the event of a breach of the ban on disclosing privileged information. An appeal will be lodged with the Court of Markets (financial section of the Brussels Court of Appeal).
Disputed facts
The facts date back to May 2016. At the time of the disputed facts, Jean-Pascal Labille “held the position of Secretary General of Solidaris and did not exercise a political mandate with immunity from jurisdiction or execution”, can we read in the excerpts of the decision of the Sanctions Committee of May 11, 2023. of bpost and its Dutch rival PostNL. He also specified that the Belgian State would reduce its stake in the public company listed on the stock exchange. A few hours following this broadcast, Alexander De Croo, then Deputy Prime Minister and Minister responsible for bpost, denied the information communicated by Jean-Pascal Labille according to which the State intended to sell its shares in bpost. On May 29, 2016, bpost and PostNL respectively announced the end of the ongoing merger negotiations.
Through the voice of his council, the former PS minister judges the decision “deeply shocking both in substance and form”. He considers that the democratic debate is “censorship” by the FSMA because he had expressed himself as a political actor and former Minister of Public Enterprises “in order to defend the public service”. Master Marc Uyttendaele also underlines “innumerable procedural irregularities and shortcomings, particularly in the appointment of members of the Authority’s Sanctions Committee. The Sanctions Committee’s intention to harm was further demonstrated by the fact that it informed the media of its decision even before the official notification of it, which starts the appeal period., adds the lawyer. Jean-Pascal Labille also reserves the right to hold the FSMA and the Sanctions Committee liable for the damage done to his reputation.
“Never seen”
This Sanctions Commission comprises 12 members appointed by the King, including judges from the Court of Cassation or the Council of State in particular. They are independent of the FSMA. The decision on Jean-Pascal Labille was posted on the regulator’s website on Thursday, following the stock market closed, very shortly before the information reached the Time.
If the decision of the Sanctions Committee took so long – 7 years –, either “never seen”, it seems, it’s because Jean-Pascal Labille challenged the procedure. There were 3 intermediate stops in which he never managed to win.
The timing of this decision is in no way related to recent news on bpost.
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