The Malta Financial Services Authority has issued guidance on the application procedure which investors are to follow to claim compensation from the Dutch Government for bonds held with SNS Bank and SNS REAAL.
In 2013, the Dutch bank SNS Bank and the insurance company SNS REAAL were nationalised by the Government of the Netherlands to ensure the stability of the Dutch financial system.
Due to the expropriation of certain securities and capital components of the abovementioned companies, the Dutch Government is providing compensation for the losses incurred by persons who invested in such bonds and loans.
The Dutch Ministry of Finance is paying over €800 million in compensation after the Netherlands Supreme Court handed down a sentence to brought to a close almost a decade of legal wrangling.
Given that these holdings could be held under a nominee basis with an investment services licence-holder, investors are advised to seek guidance from their investment services provider for assistance on the compensation procedure.
Investors can also verify their eligibility for compensation by referring to the FAQs published by the Dutch Ministry of Finance.
The level of compensation depends on the nominal value of the expropriated securities and capital components. SNS REAAL shareholders are not entitled to compensation from the Dutch Government.
The Dutch Ministry of Finance will issue any compensation due within four weeks following the processing of an application.
Applications for compensation can be submitted in English by 15th May 2023 here.
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