Act on the Supervision of Trust Offices (Wet toezicht trustkantoren – Wtt)
The Act on the Supervision of Trust Offices (Wet toezicht trustkantoren – Wtt) entered into force on 1 March 2004. Its principal aim is to promote the integrity of the Dutch financial system, providing two cornerstones to achieve this objective. The Wttsets requirements for the operational management and organisation of trust offices and provides for fit and proper assessments of their policymakers.
No entity may operate as a trust office from a place of business in the Netherlands without the required licence. DNB issues licences to trust offices that meet the statutory requirements for the fitness and propriety of their policymakers and the requirements set for their operational management and organisation. Licensed entities are recorded in DNB's public register.