• COBS 5.7 COBS 5.7 Dual Control

    • COBS 5.7.1

      The Trust Service Provider must have adequate internal controls, including having two Persons with appropriate skills and experience managing the business.

    • COBS 5.7.2

      While a Trust Service Provider may have a single Person with overall responsibility, at least another Person must have the skills and experience to be able to run the business of the Trust Service Provider in the absence of the senior Person and must be in a position to challenge the actions of the senior Person where they consider that those actions may be contrary to the provisions of Abu Dhabi Global Market Laws, Rules or Regulations or any other applicable legislation, may not be in the interests of the Client, or may be contrary to sound business principles.