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Dutch court asserts jurisdiction in Steinhoff scandal – VEB lawsuit proceeds

The Dutch courts have jurisdiction to entertain proceedings concerning fraud at retail giant Steinhoff. Today the district court of Amsterdam ruled accordingly. This is a real boost for investors; they shall have speedier clarity on whether Steinhoff has acted unlawfully against them. As a group, Steinhoff’s origin is in South Africa. From 2015, however, the group holding company is Dutch, with...
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European Investors meets Steinhoff for the first time in court

Does a Dutch court have jurisdiction to rule on the fraud at retailer Steinhoff? That was one of the main topics during a hearing in Amsterdam on Tuesday 21 August 2018. It was the first time European Investors and Steinhoff met in court since the discovery of the comprehensive fraud in December last year.   Last year VEB/European Investors held South African retailer Steinhoff liable b...
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Steinhoff’s first half-year report raises questions,

Investors request more information on current state of affairs at Steinhoff Seven months after the widespread accounting irregularities came to light, Steinhoff issued its half-year report for the six months ended 31 March 2018. The half-year results, also containing the unaudited restated half-year condensed financial statement for the six months ended 31 March 2017, provide investors with some ...
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VEB takes Deloitte to court for losses incurred by Steinhoff investors

PRESS RELEASE   VEB takes Deloitte to court for losses incurred by Steinhoff investors  The VEB has summoned Deloitte Accountants to appear before the District Court of Rotterdam for the losses incurred by the Steinhoff shareholders. Deloitte, incorrectly providing an unqualified auditor’s report on Steinhoff’s financial statements for 2016, seriously failed to fulfil its duties as laid down by...
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European Investors comments on changes to the UK Takeover Code

European Investors submitted its comments on the Public Consultation Paper of the Code Committee of the Takeover Panel with regard to statements of intention and related matters. The Takeover Panel is the independent body responsible for issuing and administering the Takeover Code in the United Kingdom. The consultation seeked views on important reforms to the way takeovers operate in the UK. C...
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European Investors welcomes changes in the new Prospectus Regulation

European Investors’ Association (EIA) welcomes the changes in the new Prospectus Regulation. In our response on the public consultation of the European Securities and Markets Authority (ESMA), we stressed the importance of ensuring that the overarching goals of the regulation are well reflected and developed in Level 2. The objective of the Prospectus Regulation is twofold: making accession to ...
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VEB endorses the EC-recommendation for an opt-in model for collective redress

The Dutch Investors’ Association VEB has, also on behalf of European Investors’ Association, submitted its response on the European Commission’s call for evidence on Collective Redress arrangements throughout the EU. VEB prides itself on being the leading Dutch collective redress organisation. It is widely reputed for successfully upholding investor rights through either litigation or settlemen...
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European Investors expresses strong support for FSB’s recommendations on climate-related financial disclosures

15 February 2017 – On 14 December 2017, the Task force on Climate-related financial disclosures (TCFD), set up by Financial Stability Board (FSB), published an important report outlining its recommendations for disclosures on the financial impact on climate change. These recommendations aim to make such disclosures more decision-useful and consistent, an objective strongly support by European Inve...
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European Investors concerned about new target market rules

13 January 2017 - As of 3 January 2018, distributors of investment products will be required to define a target market for each of the products they include in their product assortment and intend to recommend to their clients. This target market should describe for whom a particular product is intended. In principle, European Investors is very supportive of the new product governance rules introd...
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European Investors alarmed over Financial Transaction Tax

6 January 2017 - The European Investors’ Association has noted with great concern that ten EU Member States are pushing ahead with their enhanced cooperation in the area of the Financial Transaction Tax (FTT). Introduction of a FTT would burden investors in Europe with the negative effects of a tax which is unjust, counterproductive and therefore utterly unacceptable. The participating countries ...
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