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 settlement negotiations. VEB thereby boasts proficiency in the workings of the prevailing Dutch collective redress regime.
In its response to the European Commission, VEB has sought to emphasise that the prevailing Dutch regime, based as it is on the dual avenues of opt-in collective action and opt-out collective settlement procedures, has a track record entailing great practicality as well as effectiveness. It is therefore that VEB fully endorses the Recommendation from the European Commission from 2013 that member states legislate for an opt-in model for collective redress. Moreover, equally in line with the 2013 European Commission Recommendations, VEB recommends stopping short of creating a lead-plaintiff model.
VEB and European Investors would applaud an initiative by the European Union to promote harmonised collective redress mechanisms throughout the member states such initiative likely consisting of a directive encompassing the above mentioned aspects from the 2013 Recommendations.
For more information on the response, klik on the following link:
Review EC Recommendation Collective Redress 2017-08-08