Supervision of trust offices in the Caribbean Netherlands

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De Nederlandsche Bank NV (DNB) supervises trust offices in the Caribbean Netherlands.

The following themes are important for our supervision of the sector, on which relevant, current publications can be found at the bottom of this page.

Themes

Information about specific subjects 

Are you operating a trust office in the Caribbean Netherlands or are you planning to do so? On the Market access page, you can find more information and application forms.

If there is anything else you are looking for, feel free to contact us (in Dutch or English). Just call us at +31 20 524 9111 on business days between 9:00 and 17:00 (Dutch time). Or drop us a line at info@dnb.nl. 

Integrity supervision

We monitor the measures that trust offices have taken as part of their operational management to manage integrity risks under the BES Financial Markets Act (Wet financiële markten BES – Wfm BES). In addition, we focus on the measures implemented pursuant to the Wwft BES and the Sanctions Act (Sanctiewet 1977 – Sw). These acts apply to trust offices operating in the Caribbean Netherlands.

The Wfm BES provides that trust offices must pursue an adequate policy for the sound conduct of its business and design their operational management so as to safeguard sound and ethical business operations.

Under the Wwft BES, a trust office must meet, among others, the following requirements:

  • conducting customer due diligence
  • reporting unusual transactions

In addition, Sections 2.14 to 2.19 of the Wwft BES contain specific provisions for trust offices.

More information on the ethical operational management under the Wfm BES, the Wwft BES and the

Sanctions Act 1977 can be found on this page.

Retaining documents and data

The law stipulates what documents and data relating to the organisation of the trust office must be available to the supervisory authority. They are listed in Section 2.3 of the Financial Markets (BES) Regulation 2012 (Regeling financiële markten BES 2012).

Separation of assets

A trust office must take measures to protect the rights in respect of funds or monetary assets of enterprises to which it will provide management services and of third parties. Such measures must, as a minimum, consist in the complete separation of the assets of each such enterprise, each third party and the trust office.

News and publications

Register

The register includes the licences we have granted under the Wfm BES. In general, financial institutions must have a licence from DNB to operate in the Caribbean Netherlands.

The register was established pursuant to Sections 2:19 and 2:20 of the Wfm BES and Sections 2:12 to 2:14 of the Bfm BES.