(General) Financial Products & Associated Risk Management
[Webinar] Trust Training Certificate (TTC) - Unit 3: Administration and Management of Trusts (8th Cohort)
Overview
This is Unit 3 of the training programme in pursuing the "Trust Training Certificate".
It covers the requirements of administration and management of trusts including required form, proper documents, changing the trust instruments, investment policy format, letter of wishes, FATCA & CRS reporting, etc.
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.
Content
‧ Set up process
‧ Distributions to beneficiaries
‧ Annual review
‧ Changes to the deed
‧ Adding and removing beneficiaries
‧ Re-domicile
‧ Trust investment policy
‧ Letters of Wishes
‧ Proper documents for trustee protection
‧ Basic accounting rules and trust account requirements
‧ Reporting (FACTA, CRS) overview and when required
‧ Beneficiaries rights to information under HK law
‧ Termination and closure documents and requirements
‧ For investment and pension trust, the role of custodian, administrator and registrar/scheme administrator
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 PractitionerTM 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 for courses/seminars held for the period from 1 October 2016 to 31 August 2022 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.
Speaker/Course Instructor
Richard advises trustees, ultra-high net worth individuals, private trust companies and family offices on the establishment, restructuring and administration of trusts, including special trusts i.e. BVI VISTA, Cayman STAR and Employee Benefit Trusts. He regularly assists in estate administration, succession planning and family governance.
Richard has acted for many of the world’s leading trust companies, financial institutions, wealthy individuals and related structures. He has experience with dealing with clients and advisors across the globe. Richard has over 20 years’ post qualification experience with the majority spent in offshore firms. Richard has lived and worked in Jersey, London, the Cayman Islands and (since 2009) Hong Kong. He is admitted as a solicitor in England and Wales and the British Virgin Islands and is a Registered Foreign Lawyer in Hong Kong. He has also been admitted as an Attorney in the Cayman Islands.
Richard is an elected Academician of the International Academy of Estate and Trust Law (the only such offshore practitioner in APAC). He is also a Certified Anti Money Laundering Specialist. Richard is a lecturer on trusts and family offices for the Hong Kong Securities and Investment Institute and for the Hong Kong University of Science and Technology.