De Nederlandsche Bank confirmed that its EUR 95,000 fine against trust office Erez Corporate Service B.V. is final after the company withdrew its appeal. The fine was originally imposed on Jan. 20, 2022, because Erez failed to arrange an audit covering January through December 2019. Dutch trust office legislation requires firms to conduct an audit at least annually as an additional safeguard for sound and ethical operations. The audit must assess compliance with applicable laws and regulations and review the performance of the compliance function.
2026-09-17De Nederlandsche Bank
De Nederlandsche Bank confirms EUR 95,000 trust office audit fine is final
De Nederlandsche Bank confirmed that its EUR 95,000 fine against Erez Corporate Service B.V. is final after the trust office withdrew its appeal. The fine concerned Erez’s failure to conduct the mandatory annual audit for 2019.