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Commission issues first Trust Service Provider licence 5 October 2005

    The Financial Supervision has now begun to issue the first Trust Service Provider licences under the recently introduced legislation.

    Details of all current licences are published by the Commission on its website, which now includes a category for trust service providers. The Commission does not, however, publish the names of licence applicants.

    From 1 November 2005 it will be illegal to conduct trust service provider business unless either the business is licensed or an application has been made to the Commission for a licence before that date. Applicants are therefore encouraged to submit their applications as soon as possible.

    5th October 2005

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