Charles Blommaert

With CSDR, the European Union implemented a framework for the Central Securities Depositories (CSDs) of the EU. The regulation was rolled out through a phased approach from 2014, addressing various aspects, such as improving securities settlement efficiency and addressing operational risks, including those related to outsourcing. As Supplier Governave Lead, I was responsible to implement the processes to make Euroclear Bank compliant for all outsourcing related actvities, contributing to Euroclear's authorisation, ensure continued compliance and regulatory reporting to the National Bank of Belgium and provide regular assurance to management, integrating new regulations in the following years, e.g. EBA Guidelines on Outsourcing, ESMA Cloud Outsourcing Guidelines, or Digital Operational Resilience Act (DORA).

Effective from 2001, the US Inland Revenue Service (IRS) changed its withholding regulations under Section 1441 with respect to payments made to non US resident beneficiaries, and the role of qualified intermediaries (QI) acting as tax withholding agent. The reform impacted all foreign institutions that hold US Securities on behalf of nonresident aliens. A QI like Euroclear is responsible for the correct classification of US Securities, collecting the documentation, splitting the correct tax rate at source, and make the tax payments to the IRS. As leading business analyst, I re-engineered the process to identify the correct tax payment, automated the validation of tax certificates and deriving the correct tax rate and the booking of net and gross income amounts as applicable. Together with the leading tax lawyer and the head of tax operations, I did a road show to major European banks to help them to prepare for the business impact of the new rules.

As per 1 January 1999, the Euro replaced the legacy currencies of 11 European nations, creating a single European currency for 300 million citizens. Not only were bank notes and coins replaced and bank accounts converted into Euro, a large number of securities - usually (semi) government debt - was converted on that day. As Euroclear was the biggest depositary of such securities, our role was key to the success of the new currency. As the responsible business analyst, I wrote the algorithm that applied the various national rules on the redenomination of their debt instruments. I also analysed & resolved the issues related to complex cases, such as the redenomination of french government debt traded in units, or the conversation of Italian tax amounts under the pro rata temporis taxation system for which Euroclear acts as withholding agent (including presenting the latter at the Italian Ministry of the Treasury, as they had not understood the impact on international investors).

Volt is a pan-European progressive political movement, focused on changing the way politics is done and shaping the future of Europe. Volt is a people-powered movement, who under the visible threat of populism and nationalism, corruption and the fruitless ‘old way’ of doing politics, have decided it is time to take action. Working together we can shape Europe into a united Europe, under the highest standards of environmental, human, and social development. A Europe where its citizens and residents, are able to develop their true potential and have the necessary tools to shape their societies. Through a grassroots approach to politics, and community organising initiatives, we are connecting and enabling communities, at a local and national level, to innovate and shape politics from their homes to the European level.

Founding member and first chairman (2004-2010), as well as - not all at the same time - secretary, treasurer, junior coach (ICC certified coach "Introduction to cricket"), communication manager, webmaster and social media manager. Occasional social cricketer (slow left-arm bowler)

The UEF is a nongovernmental and supranational organisation dedicated to the promotion of a democratic and federal Europe. It was founded shortly after World War II with the belief that only a European Federation, based on the idea of unity in diversity, could overcome the division of the European continent that had caused the suffering and destruction of the two World Wars. Federalists believe that only a common effort of European citizens working towards this goal could create a peaceful and democratic Europe guaranteeing freedom and the protection of human rights. #EverCloserUnion