Fine for trust office International Trust Services B.V. for failing to commission an audit

Enforcement measures

De Nederlandsche Bank (DNB) imposed a fine of €29,700 on trust International Trust Services B.V. (ITS) on 24 November 2025. The fine was imposed because ITS failed to commission an audit in 2022 concerning the period from January to December 2021.

Published: 19 August 2026

Non-compliance

Under the Act on the Supervision of Trust Offices (Wet toezicht trustkantoren 2018 - Wtt 2018) and the Decree on the Supervision of Trust Offices 2018 (Besluit toezicht trustkantoren 2018 – Btt 2018), trust offices (including ITS) are required to be audited at least once a year. It is important for trust offices to conduct an annual audit as an additional safeguard of their sound and ethical operational management. The audit verifies the trust office's compliance with laws and regulations, and it checks the performance of the trust office’s compliance function.

DNB has established that ITS did not commission an audit for the 2021 financial year in 2022. ITS has therefore failed to comply with the requirement to commission an audit at least once a year. ITS was thus in non-compliance with the Wtt 2018 and the Btt 2018. For this violation, a fine of EUR 29,700 has been imposed on ITS.

Legal remedies

A decision becomes final (irrevocable) if no legal remedies are exercised against it. Any interested party may lodge an objection against the decision within six weeks of its date. In this case, ITS submitted its notice of objection after the statutory deadline had expired. DNB has therefore determined that the failure to meet the deadline is not excusable and has consequently declared the objection manifestly inadmissible. Since no appeal was filed against the decision on the objection, the decision to impose an administrative fine has become final and no longer subject to appeal.

Current status

The table shows the current status of this decision.

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Measure	Objection	Appeal	Further appeal
Imposed	Lodged	Decision on objection	Lodged	Ruling issued	Lodged	Ruling issued
24 November 2025	27 January 2026	17 March 2026	n/a	n/a	n/a	n/a

Measure

Objection

Appeal

Further appeal

Imposed

Lodged

Decision on objection

Lodged

Ruling issued

Lodged

Ruling issued

24 November 2025

27 January 2026

March 2026

n/a

Read the full decision here, excluding confidential information. You can also contact our Information Desk by telephone on 0800 020 1068 (freephone in the Netherlands) or +31 20 524 9111 (if calling from abroad).

Boetebesluit International Trust Services B.V. (only in Dutch)

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