概要

This is Unit 5 of the "Trust Training Certificate" ("TTC") (version 2.0) training programme.

It consists of three modules:
Module 8: Trustee Duties
Module 9: Hong Kong Securities and Futures Commission Regulatory Activity 13 Regime
Module 10: Hong Kong Monetary Authority’s Code of Practice for Trust Business

For details on the topics to be covered, please refer to the 'Content' section below.

If you wish to register for the full TTC (version 2.0) Part A training programme and examination, click here.

宗旨

On completion of the course, learners should be able to:
(a) understand the fiduciary duty of a trustee
(b) understand a trustee's duty of care and duty to comply with the trust deed
(c) understand the consequences of and recourses available against a trustee who has breached trustee duties
(d) understand how the various duties of trustees manifest in ethical behaviour and what this means
(e) understand the scope of RA 13 and know its applicability to entities and to individuals
(f) understand the RA 13 licensing process and know the requirements
(g) know the ongoing compliance requirements of licensed or registered RA 13 depositaries and licensed representatives / relevant individuals of RA 13 depositaries
(h) understand the scope of the Code and the SPM Module TB-1
(i) list what trust activities are covered under SPM Module TB-1 (including the exemptions)
(j) gain awareness of the requirements imposed under the Code and the SPM Module TB-1 with respect to trustees and the HKMA's supervisory approach
(k) know and understand the general principles and practical standards under the Code

內容

Module 8: Trustee Duties:
1. Fiduciary duty of a trustee
    • What is a fiduciary relationship?
    • Beneficiaries of a trust
    • Fiduciary duties and their nature
    • No-conflict rule
    • No-profit rule
    • Undivided loyalty
    • Duty of confidentiality
2. Duty of care (non-fiduciary duty)
    • Introduction
    • Common law duty of care
    • Statutory duty of care under Trustee Ordinance (Cap.29)
    • Functions to which the statutory duty of care applies
3. Duty to comply with the trust deeds
    • Duty to comply with the terms of the trust
    • Duties and powers
    • Managing the liability of trustees (effect of exclusion clauses and disclosure in trust instrument)
4. Consequences for breach and recourse available against the trustee
    • Introduction
    • Consequences for breach of trust generally
    • Other equitable recourse available against a trustee for breach of fiduciary duties
    • Breach of confidence
5. Ethical Behaviour

Module 9: Hong Kong Securities and Futures Commission Regulatory Activity 13 Regime:
1. Scope of RA 13
    • Scope of RA 13
    • Who needs to be licensed / registered for RA 13
2. RA 13 Licensing Requirements
    • Introduction
    • Licensing / registration criteria for RA 13 depositaries
    • Licensing/ registration criteria for personnel of RA 13 depositaries
3. Ongoing Compliance Obligations
    • Introduction
    • Schedule 11 to the Code of Conduct
    • Securities and Futures (Client Securities) Rules (Chapter 571H of the Laws of Hong Kong) ("CSR")
    • Securities and Futures (Client Money) Rules (Chapter 571I of the Laws of Hong Kong) ("CMR")
    • Securities and Futures (Keeping of Records) Rules (Chapter 571O of the Laws of Hong Kong)("KRR")
    • OTC derivative reporting and clearing regime
    • Other Subsidiary Legislations and Codes and Guidelines

Module 10: Hong Kong Monetary Authority’s Code of Practice for Trust Business:
1. HKMA’s Code of Practice for trust business
    • Introduction
2. To whom does SPM Module TB-1 and the Code apply?
3. Which trust activities are covered?
4. Which trust activities are exempted?
5. Requirements imposed by SPM Module TB-1
    • Conduct requirements for trustees
    • Appointment of managers and responsible officers
    • Introduction or referral of trustees
    • Notification and reporting requirements
6. Supervision by the HKMA and list of trustees
    • Supervisory approach
    • List of trustees
7. General Principles under the Code

對象

This course is primarily designed for individuals who are interested in obtaining the "Trust Training Certificate" to qualify for the Hong Kong Trustees' Association Certified Trust Practitioner™ designation.

It is also relevant for individuals seeking a comprehensive understanding of the course subject matter and those planning to enter the Trust industry sector.

資產財富管理業先導計劃 - 專業培訓資助計劃

本課程已被審批為「提升資產財富管理業人才培訓先導計劃」（以下簡稱「資產財富管理業先導計劃」 其下之「專業培訓資助計劃」（以下簡稱「本計劃」）。本計劃旨在提升資產財富管理業在職從業員的專業能力水準及協助金融服務業內其他從業員學習所需的知識和技能，使他們能投身資產財富管理業。合資格之申請人按香港證券及投資學會之要求完成課程後將可獲香港特區政府資助80%學費，上限為HK$15,000。 香港證券及投資學會為資產財富管理業先導計劃之執行機構，有關申請要求之細則及手續，請參閱專為資產財富管理業先導計劃而設之網站(https://www.wamtalent.org.hk/)。

Click here if you wish to register for full TTC (version 2.0) Part A training programme and examination.