AMS is licensed by DNB (De Nederlandsche Bank) what does that mean exactly
AMS is licensed to provide services under the WTT (The Trust Offices Supervision Act), including acting as an independent director for third parties. The licence implies that the directors of AMS have been fully screened and approved by DNB, including on reliability and integrity. In order to retain the licence, AMS must meet a number of strict conditions, including identifying the fund manager and the participants, managing certain risks and inspecting the origin and spending of funds. AMS is supervised by DNB, which means, among other things, that reports are made on a regular basis, processes are audited and compliance with laws and regulations is assessed.
What assurance do investors have that AMS keeps the money safe?
The foundation does not act on the bank accounts itself but gives a power of attorney to the manager and administrator of the fund. The manager can only use the funds for making investments, on the understanding that this is only possible within the scope and mandate of the Investment Memorandum. The administrator manages the bank account with regard to the subscriptions and de-registrations of participants as well as making payments other than investments. The foundation checks the administrator for irregularities etc. and also has access to the accounts for ad hoc spot checks. These processes are recorded.