Compliance
Compliance Corner: Vistra, Dutch Central Bank
The latest compliance news: regulatory developments, punishments, guidance, permissions and new product and service offerings.
Vistra
The Dutch Central Bank has granted a licence to Vistra which allows the fund,
capital markets, corporate and private markets services provider
to offer escrow and settlement services globally from the firm’s
office in the Netherlands.
The central bank has given the firm the European Payment Service
Directive 2 (PSD2) licence. Under the newly-introduced PSD2,
organisations which deliver escrow and settlement services must
be licensed in order to operate as a payment service
provider.
Vistra offers payment security and settlement assurance services
for purposes such as handling different asset types, large sums
of money, all major currencies, multiple jurisdictions, foreign
exchange requirements, high volumes of payments and payees.
“These solutions are particularly relevant for clients who are
looking to mitigate risk during complex financial transactions –
such as M&As [mergers and acquisitions] or in the real estate
sector – or as part of litigation settlements”, Casper
Spindelaar, head of escrow and settlement services, said.
