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How must the professional competence in the Caribbean Netherlands be safeguarded at branches of banks or insurers in the Caribbean Netherlands with their headquarters established on Curacao or St. Maarten, which have a licence there from the CBCS?

The professional competence is important in safeguarding the quality of the provision of services at such branches of banks or insurers within the Caribbean Netherlands. For this reason, managers with sufficient professional competence must actually be involved in the provision of service.

Not every branch of such institutions in the Caribbean Netherlands is large enough to perform all the activities itself, in compliance with the law. For example, there may be no staff in the Caribbean Netherlands that meet the requirements for professional competence, because the actual supervisors are employed at the headquarters on St Maarten or Curacao. In this case, to comply with the rules on professional competence, the enterprise can opt to involve any actual supervisors on St Maarten or Curacao, who do have the required professional competence, in the provision of service pursuant to the Wfm BES. In this way, the quality is still safeguarded.

When employing this construction, the enterprise must, however, ensure that the persons involved are actual supervisors, and that the circumstances do entail an active involvement by such managers in the provision of services.

The way in which the enterprise ensures that the professional competence is safeguarded must always be defined in the business operations.



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