Oversight
American Estate & Trust (AET) is a Nevada-chartered trust company operating under the authority of the Nevada Financial Institutions Division (FID) pursuant to Nevada Revised Statutes Chapter 669. As a regulated trust company, AET is subject to ongoing supervision, bonding, and audit expectations required by the Nevada FID.
Below is the official link to the current list of retail trust companies licensed by the Nevada FID. You will find “AMERICAN ESTATE & TRUST INC” within that list.
Nevada FID Official List of Retail Trust Companies→
Charter & Supervision
AET’s license authorizes it to act as a custodian, hold client assets in trust, and execute custodial responsibilities under Nevada law. We are required to maintain:
- Minimum capital and liquidity reserves
- Fidelity bonding as perscribed by NRS 669.240
- Periodic regulatory examinations, including full-scope reviews of financial condition, management practices, and internal controls
- Board and management oversight that satisfies “fit-and-proper” standards under state regulation
The FID performs examinations of AET’s operations, focusing on financial stability, internal controls, information security, and adherence to fiduciary duties.
Corporate Governance
AET maintains a formal governance framework that supports independence, accountability, and risk control. Key components include:
- Board of Directors oversight of strategy, compliance, and audit findings
- Documented escalation channels for compliance and information-security matters
- Annual policy review and attestation across key control domains (AML/BSA, IT security, business continuity, and vendor management)
Examinations & Audits
In addition to FID examinations, AET undergoes multiple independent reviews each year:
- Annual financial audit performed by a certified public accounting firm
- SOC I Type II examination of internal controls relevant to trust and custodial operations
- Compliance reviews of BSA/AML, OFAC, and sanctions programs
- Internal risk-control self-assessments with Board reporting
Findings from any examination are tracked, remediated, and reported back to the Board and, when required, to regulators.
What Oversight Means in Practice
Being a Nevada-chartered trust company means:
- We are periodically examined by state regulators
- We must evidence financial soundness and compliance at all times
- Our executives and directors are individually vetted