Compliance, Legislative & Regulatory Standards
[Webinar] Trust Training Certificate (TTC) - Unit 6: Trusts and Compliance
This is Unit 6 of the training programme in pursuing the "Trust Training Certificate".
It provides an overview of 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 "TTC Unit 1: Introduction to Trusts" and "TTC Unit 2: Types of Trusts and When Appropriate" prior to attending this course.
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. Applications of FATCA and CRS to trust structures and the Trustee’s responsibility
3. Classifications of Trusts under FATCA/CRS
4. Requirements for AML & client due diligence (“CDD”)
5. Due diligence and source of funds (“SOF”) required
6. What SOF is sufficient?
7. 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™ 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 / seminars under the Financial Incentive Scheme (“The Scheme”) of the WAM Pilot Programme.
Eligible in-service practitioners of the financial services industry could apply for a reimbursement up to 80% of the course / seminar fees, or a maximum of HK$10,000 per person throughout the period of 1 October 2016 to 31 March 2023 upon satisfactory completion.
Each individual may apply for reimbursement for more than one course / seminar subject to a maximum of HK$10,000 but each course / seminar can only be reimbursed once.
The duly signed application form together with the FIVE supporting documents must be submitted within FOUR months from the last day of the course / seminar attended. Please refer to the WAM Pilot Programme website for more details.
WAM Pilot Programme Special Requirements
If you plan to apply for reimbursement under the Financial Incentive Scheme (FIS), please ensure your device/computer has the camera feature or with webcam installed as you are required to turn on your camera throughout the webinar.
Participants who wish to register into all seven (7) units of training sessions, please click here.
Participants who wish to register into all seven (7) units of training sessions and examination, please click here.