CORPORATE CONFLICTS OF INTERESTS UNDER THE LAWS OF THE DUTCH CARIBBEAN
A particular provision may help to prevent disputes
The board of directors has the function of managing, i.e., making policy and conducting the day-to-day management of the corporation. Except for restrictions in the articles of association, the board of directors is responsible for the management of the BV or NV (private or public limited liability company) and is authorized to represent it.
A conflict of interests is not in itself improper. The manner in which one deals with it determines the propriety of a transaction or one’s conduct. According to Article 2:11 par. 3 of the Netherlands Antilles Civil Code, …
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INSIDER TRADING IN THE DUTCH CARIBBEAN
A criminal offense
The Netherlands Antilles Ordinance on the Supervision of Stock Exchanges 1998 (‘Landsverordening toezicht effectenbeurzen 1988’) contains a prohibition on insider trading.
Any person who is in possession of inside information is prohibited from carrying out a transaction or being instrumental in a transaction in securities in a company listed on a Netherlands Antilles stock exchange or on any other foreign recognized stock exchange, or in any securities whose value is determined by such securities.
In general it is prohibited for anyone, including an issuer, once it is reasonable to assume that securities will be listed, to enter …
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