Under the Act on the Supervision of Trust Offices it is forbidden to provide trust services without a licence. De Nederlandsche Bank (DNB) may grant a licence if requested and is responsible for the supervision of trust offices.
Without a licence it is forbidden under the Wtt:
Under the Wtt DNB is responsible for supervising and licensing trust offices. In order to determine whether proposed activities require a licence, it first has to be decided whether the activities constitute trust services. The activities are not allowed to be performed until a licence has been granted.
In view of our continued support for a deeper and more integrated European Capital Markets Union (CMU), De Nederlandsche Bank (DNB) and the Dutch Authority for the Financial Markets (AFM) present next steps to shape the right policies and create a competitive European capital market.
Read more DNB and AFM: recommendations for a strong European Capital Markets Union
De Nederlandsche Bank (DNB) imposed an administrative fine of €2,500,000 on trust office Intertrust (Netherlands) B.V. (Intertrust) on January 10th 2024. The fine was imposed because the customer due diligence carried out by Intertrust did not meet the legal requirements.
Read more Fine for trust office Intertrust Netherlands for insufficient customer due diligence
De Nederlandsche Bank (DNB) imposed an administrative fine of €10,000 on trust office Athos Business Services (Netherlands) B.V. (Athos) on. The fine was imposed because Athos provided trust services without carrying out sufficient customer due diligence.
Read more Fine for trust office Athos Business Services (Netherlands) B.V. for insufficient customer due diligence
De Nederlandsche Bank (DNB) imposed a fine of €10,000 on trust office Lewben Netherlands B.V. (Lewben) on 19 January 2023. The fine was imposed for Lewben's failure to commission audits during the period from 1 January 2019 to 7 September 2021.
Read more Fine for trust office Lewben Netherlands B.V. for failing to commission audits
