Dutch govt launches probe into DSB collapse

* To look at board, regulators

* Expected to take at least three months

* DSB taken into administration Oct. 12, bankrupt Oct. 19

AMSTERDAM, Oct 29 (Reuters) - The Dutch finance ministry on Thursday set out details of its investigation into the collapse of DSB Bank, saying an independent panel will probe both the bank's actions and how government responded.

DSB was seized by the government under emergency measures on Oct. 12 after a run on the bank cost it more than 600 million euros in deposits. A week later a court declared it bankrupt. [ID:nLC637889] [ID:nLJ716022]

Finance Minister Wouter Bos said a panel chaired by Prof. Michiel Scheltema, the former No. 2 at the ministry of justice, would examine the bank's current and former management and also the regulators who oversaw it.

Bos said the investigation would look at whether current laws were adequate and whether the central bank and the market regulator dealt with the situation properly.

The probe was expected to take at least three months. (Reporting by Ben Berkowitz; Editing by David Cowell)