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ARTICLE · 22 NOVEMBER 2011

Legislative Proposal Intervention Act

This newsletter discusses the legislative proposal for a Financial Institutions (Special Measures) Act (Wet bijzondere maatregelen financiële ondernemingen; "Intervention Act") that was submitted to the lower house of the Dutch Parliament on 26 October 2011 by the Minister of Finance and the Minister of Security and Justice.

NetherlandsFinance and Banking
Pim Rank
Pim Rank
Larissa Silverentand
Larissa Silverentand

This newsletter discusses the legislative proposal for a Financial Institutions (Special Measures) Act (Wet bijzondere maatregelen financiële ondernemingen; "Intervention Act") that was submitted to the lower house of the Dutch Parliament on 26 October 2011 by the Minister of Finance and the Minister of Security and Justice. The purpose of the proposed Act is to supplement 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 is to be accomplished by amending the Dutch Financial Supervision Act (Wet op het financieel toezicht; "DFSA") and the Bankruptcy Act (Faillissementswet). A public consultation on a draft of the legislative proposal was held earlier this year (see our newsletter of 15 April 2011 with the title "Intervention Act").

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