COBS 5.2 COBS 5.2 General
For the purposes of this chapter, a settlor, a trustee or a named beneficiary of a trust in respect of which the Trust Service Provider is engaged in Providing Trust Services may be treated as a Client of the Authorised Person.
A Trust Service Provider must maintain adequate knowledge of, and comply with, all applicable Abu Dhabi Global Market laws, Rules and Regulations relevant to Providing Trust Services.
A Trust Service Provider must be able to demonstrate that it is in compliance with appropriate standards of corporate governance.
A Trust Service Provider must transact its business (including the establishing, transferring or closing of business relationships with its Clients) in an expeditious manner where appropriate unless there are reasonable grounds to do otherwise.