Financial Products & Associated Risk Management

Trust Training Certificate (TTC) – Unit 1: Introduction to Trusts (eCourse)


This eCourse will be accessible from 3 April 2020 to 14 June 2020.  Enrolment deadline is 5 June 2020.

This is the Unit 1 of the training programme in pursuing the “Trust Training Certificate” (“TTC”).

This eCourse is developed in relation to the special arrangement for the participants joining the TTC Part A training in April and May 2020. It is prepared based on the recorded version of the last class (face-to-face mode) of Unit 1 done on 2 October 2019. For the participants who will take the TTC Part A Examination in June 2020, you should ensure you read the latest version of study guide and materials provided via the examination enrolment link.

In line with the Unit 1 study guide, this eCourse consists of 3 modules.
Module 1: Overview of Trusts
Module 2: Trust’s duties
Module 3: Liability, Variation and Termination

In each module, you must watch the recorded video and then pass the assessment (with unlimited attempts).


On completion of the course, you will be able to:
1. Understand the nature of a trust
2. Identify the parties to a trust
3. Understand the roles and duties of each of these parties to a trust
4. Explain why and how trusts are used
5. Understand the nature and duties of Trustees
6. Understand the nature and extent of the powers of Trustees
7. Recognize the language in which a trust may be framed and the form in which a trust may be created
8. Understand the key principles of the validity of a trust
9. Understand the key rules determining the choices of the governing law of a trust
10. Understand the extent of a trustees’ liability and how far he / she may be relieved from it
11. Understand the extent of the liability of a protector and of an enforcer and the extent to which they can be relieved from liability
12. Understand the reasons for migration of trusts
13. Understand the extent of the duty and requirements of a Trustee to provide information
14. Explain how, when and by whom trusts can be varied; and
15. Explain how, when and by whom trusts can be terminated.


Module 1: Overview of Trusts
1. What is a trust?
2. Structure of a trust and holding companies
3. Parties of a trust
4. Overview of why and how trusts are used

Module 2: Trustee’s duties
1. Duties and powers
2. Language, form and validity
3. Governing law

Module 3: Liability, Variation and Termination
1. Liabilities of Trustees, Protectors and Enforcers
2. Migration of trusts
3. Provision of Information
4. Termination and variation

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™ 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 the Trust industry sector.

Special remarks:

This course is NOT eligible for the financial incentive schemes of the WAM Pilot Programme.

Speaker/Course Instructor

Richard GRASBY
Mr. Richard Grasby is the Founder of RDG Fiduciary Services Limited. He is a lawyer admitted in England and Wales, the Cayman Islands and the BVI. He is a member of the STEP Hong Kong branch executive committee and a former chair of the branch. He is a member of the steering committees for both the STEP Business Families and the International Client Special Interest Groups. He is a member of the Hong Kong Trustees Association and the Hong Kong Institute of Directors. He has 20 years of experience working with global clients in respect of trusts, estate planning, diversified asset holding structures and related regulatory matters. He has been based in Hong Kong since 2009 and previously worked in the Cayman Islands, London and Jersey.


SFC:3.00, PWMA:3.00, HKTA:3.00