CIS Management B.V. has been granted a license by the Dutch Central Bank (De Nederlandsche Bank, or DNB), allowing to perform trust services under the Dutch Act on Supervision of Trust Offices (Wet toezichttrustkantoren, or Wtt). This warrants that trust services provided by CIS Management B.V. meet the highest level of quality standards.
The Wtt entered into force on 01 March, 2004 and the DNB was entrusted with the challenge of implementing this legislative act, enacted primarily to promote the integrity of the Dutch financial system. The first article of the Wtt stipulates that it is prohibited to perform trust services in the Netherlands in the absence of a license granted by the DNB.
The issuance of a license is an indication of the fact that since this moment and on the ongoing basis our office is subject to the continuous supervision over being compliant with the standards of the Wtt and its implementing regulations. In supervising over the compliance with the standards of the Wtt, DNB not only evaluates the quality of management systems in a trust office, but also verifies the functioning of these systems.
The trust license granted to CIS Management B.V. has been registered publicly at the register of the DNB.