Report – Simon Lelieveldt – to Foundation for Banking Ethics Enforcement: on remuneration decision ING – March 2018

In March 2018, the ING decided to propose to its shareholders a new remuneration structure for its top manager. This report to the Foundation for Banking Ethics Enforcement notifies that the proposal should not have been published and is a violation of the ethical code of conduct that all Dutch bankers need to comply with.

Formally, despite requests to speed things up, the report is still under consideration and it has not yet been decided (as of November 2018) to take this filing into the formal complaint procedure. The foundation did start however an investigation into the heviour of Mr Hamers, Mr van der Veer and Mr Breukink.