Trusts and Compliance

Trusts and Compliance

                                              

Overview

This is Unit 6 of the training programme in pursuing the "Trust Training Certificate".

It provides an overview of the rules and regulations apply to trust companies (professional trustees) and the current compliance and reporting environment, including AML, which apply to Trusts.

For the topics to cover, please refer to the content section below.

If the participant is intended to pursue the "Trust Training Certificate", he / she is required to take "Introduction to Trusts" and "Types of Trusts and When Appropriate" prior to attending this course.

Content

Compliance, AML, Legislative rules and how they apply to trusts

  1. Current HK legislation and regulations on trustee companies
    • Registered Trust Company
    • New legislation / licensing requirements for trust companies
    • Shareholders and directors Fit & Proper criteria
    • UBO registers
  2. Classifications of Trusts under FATCA/CRS
  3. Requirements for AML & client due diligence (“CDD”)
  4. Due diligence and source of funds (“SOF”) required
  5. What SOF is sufficient?
  6. What will be reportable in 2018 under CRS?

Who should attend

The course is primarily targeted to those who would like to pursue the "Trust Training Certificate" in order to apply for the Hong Kong Trustees' Association Certified Trust Practitioner™ ("CTP") designation and those who would like to apply for Experienced Practitioner Exemption in awarding CTP designation.

It is also relevant to those who would like to gain a solid understanding of the course subject matter and / or those who plan to enter into the Trust industry sector.

Financial Incentive Scheme of the WAM Pilot Programme

This is one of the eligible courses under the Financial Incentive Scheme (“The Scheme”) of the WAM Pilot Programme.

In-service practitioners of the financial services industry will be eligible for the Scheme. They will be reimbursed 80% of the course fees, subject to a maximum of HK$7,000 (whichever is the lower) upon satisfactory completion of a course or seminar over the three-year period of the Scheme.

Each individual may apply for reimbursement for more than one course / seminar.

Application to reimburse the course fees, together with the required documents, must be submitted within four months from the last day of the course attended.

Please refer to the WAM Pilot Programme website for more details.

Speaker/Course Instructor

LEA Mark
Mark was educated in England and was qualified as a solicitor in 1970 in London. Since 1971, Mark has been concerned with international estate planning and structure and international comparative taxation. Having been a partner and then Chairman in one of the UK's most successful provincial law firms, he moved permanently to Asia and was admitted to practice as a solicitor in Hong Kong in 1995. Mark is active in providing advisory works both to governments and families with international members. Mark advised the Government of Singapore with regard to the Trustees Act of Singapore. He originated the proposals for changes to the Trust Law of Hong Kong and advised on such changes. He advised the Malaysian Government on changes to the laws of Labuan, including Trust Law, Foundations Law and Limited Partnership Law. He remains an international adviser to that government. He advised the Government of Samoa on and has drafted new Trust Law, new Foundations Law and a new Trustee Companies Bill and has advised on and drafted changes to other relevant laws in consequence. Mark taught a course on international estate planning, including the use of trusts and foundations, as Adjunct Professor of Law at the National University of Singapore for 10 years. He is teaching a similar course in Samoa.

Details

Code
TQRCR18006201
Date & Time
Tuesday, 2 Oct 2018 (6:00PM - 9:00PM)
Venue
HKSI Institute Training Centre
Language
English
Hours
SFC:3.0, PWMA:3.0
Fees
All (Member & Non-Member): HK$2500