Under the Act on the Supervision of Trust Offices (Wtt), De Nederlandsche Bank N.V. supervises trust offices. DNB’s supervisors do this by, among other things, testing the reliability of directors, granting licences and tackling financial-economic crime. DNB can, for example, draw a trust office’s attention to their duty to conduct a staff reliability or integrity audit, inform the staff of the results and, of course, report any incidents. In addition, they check if institutions are financially sound so that they can meet their obligations, even if economic downturns occur.
After all, even after access has been granted by the trust office, the trust office is obliged to monitor the client on an ongoing basis. The trust office itself has been given a supervisory role in this respect. This is called supervision at the level of the service provider.