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ARTICLE · 26 APRIL 2011

Intervention Act

This newsletter discusses the draft legislative proposal for a Financial Institutions (Special Measures) Act (Wet bijzondere maatregelen financiële ondernemingen; "Intervention Act") that was recently published for consultation along with a draft explanatory memorandum and a document containing specific questions. The draft proposal would broaden the powers of the Dutch Central Bank (De Nederlandsche Bank; "DNB") and the Minister of Finance to intervene at financial institutions that are experie

NetherlandsFinance and Banking

This newsletter discusses the draft legislative proposal for a Financial Institutions (Special Measures) Act (Wet bijzondere maatregelen financiële ondernemingen; "Intervention Act") that was recently published for consultation along with a draft explanatory memorandum and a document containing specific questions. The draft proposal would broaden the powers of the Dutch Central Bank (De Nederlandsche Bank; "DNB") and the Minister of Finance to intervene at financial institutions that are experiencing "serious problems". This broadening would be accomplished by amending the Dutch Financial Supervision Act (Wet op het financiëel toezicht; "DFSA") and the Bankruptcy Act (Faillissementswet). The deadline for comments on the three consultation documents, which were prepared by the Ministry of Finance and the Ministry of Public Security and Justice, is 6 May 2011.

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