CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. STEP Publishes Book On Regulation Of Trust And Company Service Providers

STEP Publishes Book On Regulation Of Trust And Company Service Providers

by Robin Pilgrim, LawAndTax-News.com, London

01 September 2006


The Society of Trust and Estate Practitioners announced this week that it has published a new book, entitled 'The Regulation of Trust and Company Service Providers'.

The book, by Kimberley Roe LLB (Hons), LLM (IBL), TEP and Gary Envis LLB (Hons), TEP, was written, with experienced practitioners, regulators, compliance officers, and advanced students in mind, following a comprehensive study of the anti-money laundering, conduct of business, and company service providers regulations. The findings span twelve financial services jurisdictions.

The catalyst for this research was the announcement of the Third EU Money Laundering Directive, which has now come into force and introduces the requirement for, amongst others, trust and company service providers to be registered or licensed under a “fit and proper” test.

The new EU Directive also provides more detailed customer due diligence requirements, introduces the requirement for Money Service Businesses to be licensed or registered under a “fit and proper test”.

Rosemary Marr, Deputy Chair of STEP, announced that:

“There can be no doubt that the traditional 'offshore' industry has led the way in regulating trust and company service providers. This research will encourage the less regulated financial centres, including those considered 'onshore', to achieve the regulatory standards already attained by many offshore centres. This will be the greatest challenge for the international community as only a level playing field of regulation will defeat the criminals.”


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »