On 11 April 2017, the Dutch Minister of Finance published for consultation a draft legislative proposal of the Act identifying holders of bearers shares (Wet identificatie houders van aandelen aan toonder) (the Proposed Act). The Proposed Act introduces new rules that will make it possible to identify holders of bearer shares.
Once the Proposed Act has entered into force, bearer shares will only be able to be traded using a securities account held with an intermediary, such as a bank or an investment firm. As a result, it will no longer be possible to transfer bearer shares anonymously. Investigating authorities will be able to request intermediaries to provide the data of the holders of securities accounts with the purpose of combatting tax evasion, money laundering and terrorist financing or other financial crimes. The Proposed Act follows the recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes and the Financial Action Task Force.
View the Proposed Act (Dutch only), 11 April 2017.
View the Explanatory Memorandum to the Proposed Act (Dutch only), 11 April 2017.