Regulatory Alerts2022-11-11
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Explanatory Notes for Trust Office License Application Form
The Dutch Central Bank (DNB) requires applicants for a trust office license under the Trust Offices Supervision Act 2018 to submit a comprehensive application demonstrating compliance with integrity, governance, and operational standards. Applicants must provide detailed business cases including SWOT analyses, financial justifications, and specific descriptions of intended trust services, while explicitly prohibiting the simultaneous provision of tax advice to the same client. The document mandates the implementation of a procedure manual, a systematic integrity risk analysis (SIRA), and the appointment of key personnel with integrity-sensitive functions to ensure robust risk management and regulatory adherence.
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