The legal basis of Cft Bonaire, Sint Eustatius and Saba (Cft BES) is in the Wet financiën openbare lichamen Bonaire, Sint Eustatius and Saba (Wet FinBES). Based on this law Cft Bonaire, Sint Eustatius and Saba is responsible for advising the governments of the public entities and the Minister of Interior Affairs and Kingdom Relations (Minister of BZK), and for the guidance of the executive councils with the daily financial management. Cft BES falls under the ministerial responsibility of the Minister of BZK.
This Board consists of three members: the chairman, a member upon proposal of Bonaire, Sint Eustatius and Saba and a member upon proposal of the Netherlands.
Cft Curaçao and Sint Maarten exercises supervision as regulated in the consensus Kingdom Act financial supervision Curaçao and Sint Maarten (Act). In this law Cft Curaçao and Sint Maarten is assigned a monitoring and advisory role.
Cft Curaçao and Sint Maarten consists of four members: the chairman, a member nominated by the council of ministers of Curaçao, a member proposed in accordance with the wishes of the council of ministers of Sint Maarten and a member proposed in accordance with the wishes of the council of ministers of the Netherlands.
The Board of financial supervision Aruba executes supervision as regulated in the National Ordinance on Aruba temporary financial supervision (LAft). In this regulation CAft is assigned a monitoring and advisory role.
The CAft consists of three members: the chairman, a member proposed in accordance with the wishes of the council of ministers of Aruba, a member proposed in accordance with the wishes of the Dutch council of ministers.
The three Boards are supported by a joint secretariat that has its offices on Curaçao, Sint Maarten and Aruba. The secretary and the staff are employed by the Minister of Interior Affairs and Kingdom Relations.
Stefan de Kok is the secretary of the three Boards. He is assisted by policy advisors and supporting personnel. Currently there are 18 employees working at the secretariat.