The Dutch Central Bank (DNB) was wrong to force the SPVG pension scheme (Pensioenfonds van de Vereenigde Glasfabrieken) to sell off its gold and has to compensate the scheme for its loss, the court decided today.
In January 2011 the bank ordered the scheme to sell off 10% off its 13% gold allocation, claiming it wasn’t in line with the prudent person rule.
According to SPVG chairman Rob Daamen the loss incurred by the forced sale [...]
