DSB bankruptcy inquiry into key players grinds to halt

Inquiries by the central bank and financial sector regulator AFM into the expertise of key players at bankrupt private bank DSB are grinding to a halt. DSB collapsed last year, leading to a formal investigation into the capabilities of senior executives who still have important jobs in the financial sector.


At least seven senior figures were scheduled for investigation. Two inquiries have been completed, one is pending and four others were dropped because the men involved no longer have important financial sector jobs.
On Tuesday, both the central bank and AFM said there was no reason to doubt the expertise and trustworthiness of former supervisory board member Robin Lindschoten, despite claims last year that he failed to do his job properly when the central bank first expressed concerns about DSB.
No further details of the findings were made public.
New job
The ruling means Linschoten, a prominent VVD supporter and former junior minister, can stay in his current job with health insurance group Menzis.
it was also announced on Tuesday that an inquiry into the expertise of DSB’s founder Dirk Scheringa has been stopped because Scheringa no longer has an important job in the financial sector. Former DSB COO Hans van Goor is also no longer under investigation for similar reasons, the Volkskrant says.
Earlier, the AFM and central bank stopped their inquiry into Ed Nijpels, like Lindschoten a promiment VVD politician and supervisory board member. The probe was halted because Nijpels stood down as chairman of the ABP pension fund and avoided criticism.
Resignations

At least one other former supervisory board member is also poised to resign and so avoid investigation, according to media reports.
Acting finance minister Jan Kees de Jager told MPs on Tuesday that one former DSB executive is still under investigation.
The one investigation completed earlier was into the role of Gerrit Zalm, the former VVD finance minister who now heads nationalised bank ABN Amro. The central bank and AFM were divided on their view of Zalm’s role, with the bank clearing him and the AFM saying he had mistakes.
Another inquiry into the collapse of DSB is focusing on the role of the AFM and central bank.

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