The Dutch Central Bank (“DNB”) has published a policy on social decency for trust offices effective 16 January 2020. The policy is based on art. 41(3) of Trust Offices Act on Supervision 2018.
DTS Dutch Trust Services has defined and implemented a policy on social decency accordingly. At your request, we can send you our complete statement. On this website we are publishing a short extract.
DTS Dutch Trust Services undertakes measures to prevent the risk of involvement of the trust office or its employees in acts that go against what is appropriate in society in accordance with unwritten law and could seriously damage confidence in the trust office or financial markets
DTS Dutch Trust Services intends not to cooperate with companies or individuals which are involved in socially inappropriate activities or are on the published sanction lists. In this regard, we have outlined specific kinds of activities, countries and individuals with whom we shall not establish any relations.
DTS Dutch Trust Services does not provide services to groups having involvement in serious violation on any of the following matters:
- threat to the climate, biodiversity
- animal testing
- ignoring of animal welfare
b. Human rights
- using child labour
- forced labour
- unequal remuneration
- violation of human rights such as privacy and freedom expression
c. Working conditions
- organization of work
- employment terms
- non-equal treatment and discrimination of employees on whatever ground
d. Ethics and cultural varieties
- risk of misconduct
The list is not exhaustive and integrity risk of each activity will be assessed on a case-by-case basis.
Moreover, DTS Dutch Trust Services performs enhanced compliance with respect to the integrity of beneficiaries (UBO’s) and group entities in order to investigate whether they have been seen or convicted for particular illegal or criminal activities, such as money laundering, tax fraud, terrorism financing, corruption, etc.
DTS Dutch Trust Services reserves the right to refuse to provide services to particular individuals and entities or request additional documents if case-by-case analysis on the basis of our social decency policy shows that they are socially inappropriate.