SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of
The Securities Exchange Act of 1934
For the month of July
VAN DER MOOLEN HOLDING N.V.
(Translation of Registrant 's name into English)
Keizersgracht 307
1016 ED Amsterdam
The Netherlands
(+31) 20 535 6789
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing
the information to the Commission pursuant to Rule 12g3-s(b)
under the Securities Exchange Act of 1934.)
Yes No X
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(if "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- .)
Schedule of Information Contained in this Report:
1. The English language press release of Van der Moolen Holding N.V.
dated July 10, 2006 announcing the Settlement of Stock Loan
Investigation with New York Stock Exchange.
Van der Moolen Specialists Reaches Settlement of Stock
Loan Investigation With New York Stock Exchange
AMSTERDAM, Netherlands--(BUSINESS WIRE)--July 10, 2006--Van der
Moolen Holding N.V. (NYSE:VDM) (Amsterdam:VDMN) announced today that
Van der Moolen Specialists USA, LLC ("VDMS"), a 75% owned subsidiary
of Van der Moolen Holding N.V., has entered into a settlement with the
New York Stock Exchange ("NYSE") resulting from the NYSE's
investigation into certain broker/dealer stock lending practices of
VDMS's stock loan department, focusing on transactions involving
finders. VDMS closed its stock loan department, which was not one of
its core businesses, in February 2005.
VDMS consented to findings by an NYSE Hearing Officer that
employees of its stock loan department caused it to engage in
irregular stock loan transactions and related violations, including
that VDMS failed to reasonably supervise the activities of its stock
loan department. VDMS also consented to the imposition of a penalty of
censure and a fine of $3.5 million.
This settlement will negatively impact the second quarter 2006 net
result of Van der Moolen Holding N.V. as determined under
International Financial Reporting Standards (IFRS) by approximately
EUR 1.0 million, since part of the settlement already was recognized
as a provision in our 2005 IFRS Annual Report issued March 16th 2006.
In our US GAAP financial statements issued on Form 20-F for the
year ending 2005 as filed with the SEC on June 23, 2006 the financial
impact was fully taken into account.
The NYSE Hearing Board Decision took into consideration, among
other things, that VDMS took corrective and remedial actions including
voluntarily closing the stock loan department completely when the
conduct at issue was revealed, and terminating employees responsible
for running and supervising the stock loan department. The NYSE
Hearing Board Decision also took into consideration that VDMS gave
"full, candid and proactive cooperation" to the NYSE during the course
of its investigation, and that all the VDMS employees involved in the
alleged improper activities of the stock loan department or who had
any supervisory responsibility for the stock loan department were
either discharged or have retired from the Firm.
For more information about Van der Moolen, please visit
www.vandermoolen.com or contact Investor Relations/Corporate
Communications, telephone +31 (0)20 535 6789.
Van der Moolen trades on the leading US and European equity,
option and fixed income exchanges. The group trades in open outcry and
electronic markets in several time zones. On the NYSE, Van der Moolen
currently has a market share of nearly 11% of transaction volume for
which it acts as specialist. Van der Moolen's traders worldwide
execute an average of 100,000 trades a day. Turnover and price
volatility are the most important factors influencing its results.
Van der Moolen's shares are listed on Euronext Amsterdam
(VDMN.AS). American Depositary Receipts (ADRs) representing Van der
Moolen shares are listed on the NYSE (VDM).
Disclaimer:
This press release contains forward-looking statements within the
meaning of, and which have been made pursuant to, the Private
Securities Litigation Reform Act of 1995. All statements regarding our
future financial condition, results of operations and business
strategy, plans and objectives are forward-looking. Statements
containing the words "anticipate," "believe," "intend," "estimate,"
"expect," "hope," and words of similar meaning are forward-looking. In
particular, the following are forward-looking in nature: statements
with regard to strategy and management objectives; pending or
potential acquisitions; pending or potential litigation and government
investigations, including litigation and investigations concerning
specialist trading in the U.S.; future revenue sources; the effects of
changes or prospective changes in the regulation or structure of the
securities exchanges on which our subsidiaries operate; and trends in
results, performance, achievements or conditions in the markets in
which we operate. These forward-looking statements involve risks,
uncertainties and other factors, some of which are beyond our control,
which may cause our results, performance, achievements or conditions
in the markets in which we operate to differ, possibly materially,
from those expressed or implied in these forward-looking statements.
We describe certain important factors to consider in connection with
these forward-looking statements under "Key Information - Risk
Factors" and elsewhere in our annual filing with the U.S. Securities
and Exchange Commission on Form 20-F. We caution you not to place
undue reliance on these forward-looking statements, which reflect our
management's view only as of the date of this Report. We have no
obligation to update these forward-looking statements.
CONTACT: Van der Moolen
Investor Relations/Corporate Communications
+31 (0)20 535 6789
www.vandermoolen.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
VAN DER MOOLEN HOLDING N.V.
Date: July 10, 2006 By: /s/ Richard E. den Drijver
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name: Richard E. den Drijver
title: Chairman of the Executive
Board
By: /s/ Leo J. Pruis
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name: Leo J. Pruis
title: Chief Financial Officer
Member of the Executive Board
By: /s/ Casper F. Rondeltap
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name : Casper F. Rondeltap
title: Member of the Executive
Board
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