20-21 October 2009, The Fairmont, 2 Stamford Road, Singapore 178882
Programme
19/10/2009
18:00 Welcome cocktail reception, Long Bar, 2nd Floor, Raffles Hotel
Kindly sponsored by Azure Tax
20/10/2009
08:00 Continental breakfast and registration
08:45 Welcome from STEP Singapore
Angelo Venardos TEP
Chairman, STEP Singapore Branch
08:50 Welcome from STEP Worldwide
Nick Jacob TEP, Deputy Chairman, STEP Worldwide
08:55 Keynote Address
Mr K Shanmugam, Minister for Law and Second Minister for Home Affairs, Singapore
09:25 Refreshment Break
09:40 Tax and information exchange agreements - The future
- A review of European & US/Caribbean attitudes, precedents and politics
- The policy, media, leverage and high level technical issues
- Where do we go from here?
Richard Hay TEP, Stikeman Elliott, UK
10:20 The new global framework for wealth structuring (1)
- Future role of IFC's
- New regulatory framework
- Comments on speech on TIEAs
Geoff Cook, Jersey Finance, Jersey
Jonathan Hooley, Senior Advisor, External Affairs, Guernsey
Mark Jackman TEP, Rothschild Private Banking & Trust, Singapore
Prof. Jason Sharman, Centre for Governance & Public Policy, Griffith University, Queensland, Australia
Kindly sponsored by Guernsey Finance
10:50 The new global framework for wealth structuring (2)
- Singapore's position on EU Savings Directive
- EUSD - extension to discretionary trusts?
- Information exchange on demand
John Riches TEP, STEP Public Policy, UK
Gurbachan Singh TEP, KhattarWong, Singapore
Representative from Financial Times
11:20 Networking and Refreshments
11:50 A digest of recent trust cases from around the world
Mark Bridges TEP, Farrer & Co LLP, UK
12:20 The use of trusts to protect assets
- What is asset protection and what is not?
- Asset protection laws in various jurisdictions
- The Statute of Elizabeth and other fraudulent conveyance laws
- Theory and practice
- The impact of bankruptcy courts
- The impact of divorce courts
- Family partnerships as an alternative?
Kenny Foo, JP Morgan, HK
12:50 Lunch
Kindly sponsored by Guernsey Finance
14:00 Private Trust Companies - Practical use across the jurisdictions
- Are they suitable for everyone worth US$25m plus?
- Should they be set up using Purpose trusts, STAR trusts, Foundations or Companies Ltd by Guarantee as the holding vehicle?
- Directors' jurisdictional issues
- The agreement with the administrator
- Can they be properly run by family members?
Simon Beck TEP, Baker & McKenzie LLP, Miami, US
Kindly sponsored by Rothschild Trust (Singapore) Limited
14:30 Option 1 - The Caribbean's approach to tax and information exchange agreements
Simon Beck TEP, Baker & McKenzie LLP, Miami, US
14:30 Option 2 - The shifting paradigm in philanthropy
- The evolving donor enterprise and communities of interest
- Emergin structures in Asia
- Investing in the new social economy
- More public scrutiny: changing government policies, nonprofit governance standards
- Impact conundrum: value-for-money donated versus meeting real needs
Cynthia D'Anjou Brown, HSBC Family Office Services Limited, HK
Stacy Choong, Rajah & Tann LLP, Singapore
14:30 Option 3 - Regional jurisdictional trust update - a dialogue between a draftsperson and trustees
- Brunei
- Labuan
- Hong Kong
- Singapore
David Brownbill QC TEP, UK
Martin Crawford, Labuan IBFC, Malaysia
Bill Ahern TEP, Family Capital Conservation Limited, Hong Kong
Luke Peng TEP, SG Trust (Asia) Ltd, Singapore
Santhi Roy Prabhakaran, HMR Trust Ltd, Brunei
14:30 Option 4 - Current thoughts on letters of wishes
Mark Lea, Lea & White, HK & Singapore
15:15 Networking & Refreshments
15:45 Option 1 - The Caribbean's approach to tax and Information exchange agreements
15:45 Option 2 - The shifting paradigm in philanthropy
15:45 Option 3 - Regional jurisdictional trust update - a dialogue between a draftsperson and trustees
15:45 Option 4 - Current thoughts on letters of wishes
16:30 Why are IFCs suffering political attack?
- Are they really vehicles for crime
- Do IFC's erode the tax base of OECD countries?
- How do IFC's facilitate tax competition?
- Do IFC's undermine the stability of global financial architecture?
- Why are they suspicious to tax authorities?
Professor Jim Hines, University of Michegan, US
17:15 Day 1 Close
18:00 Cocktail Reception and Dinner, East India Room/Bar & Billiard Room, Raffles Hotel
Kindly sponsored by Labuan IFC
18:00 Cocktail Reception and Dinner extra tickets
Kindly sponsored by Labuan IFC
21/10/2009
08:00 Continental breakfast
Exhibits open
09:00 STEP international education update
Bill Howarth, Central Law Training International, UK, Singapore and Middle East
09:15 Trusts - Compliance versus confidentiality
- Where are we going with compliance requirements?
- Differences between jurisdictions
- Can we wed compliance and confidentiality?
- Why is confidentiality so important in reality?
Yeoh Lian Chuan TEP, Rajah & Tann LLP, Singapore
09:45 Legal reciprocity (comity) issues across the frontiers as they affect trusts
- Recognition of trusts in different jurisdictions
- Jurisdiction - that of management, proper law or asset location?
- Recipricol enforcement of judgments
- Divorce issues
David Brownbill QC TEP, UK
10:15 Latest developments in the US
- US expatriation - easier or more difficult under the new rules?
- VD - a new US Government disease?
- Stop Tax Haven Abuse Act - some variations on a theme
- Delaware LLCs - a spent case?
- Limited liability partnerships
- Nongrantor Trusts - strategic planning opportunities
Mimi Hutton TEP, Withers, HK & Joseph Field, Withers Worldwide, New York
10:45 Networking session & refreshments
11:15 Case study in respect of the use of Trusts - Trustees as shareholders in a family business
- Dividend policy
- Employment of family members
- Interaction between trustees and directors
- Voting control
- How to be fair between beneficiaries
- Who is to retain control?
John Riches TEP, STEP Public Policy
Mark Bridges TEP, Farrer & Co LLP, UK
Nick Jacob TEP, Lawrence Graham LLP, UK
James Aitken TEP, HSBC Trustee (Singapore) Ltd, Singapore
Kindly sponsored by Rawlinson & Hunter
12:05 Panel session on succession law issues
- Common law v Civil law jurisdictions
- Religious based and other jurisdictions
- Forced heirship and other succession law requirements
- Brussels IV Europe
Richard Frimston TEP, Chair of STEP Cross Border Estates Group, Russell-Cooke LLP,UK
Edmund Leow, Baker & McKenzie, Singapore
12:45 Lunch
Kindly sponsored by Rawlinson & Hunter
14:00 Panel session on the contribution that the offshore financial centres make to higher tax jurisdictions
Richard Hay TEP, Stikeman Elliott, UK (Chair)
Yeoh Lian Chuan TEP, Rajah & Tann LLP, Singapore
Gurbachan Singh TEP, KhattarWong, Singapore
Jonathan Hooley TEP, States of Guernsey, Guernsey
Prof. Jason Sharman, Centre for Governance & Public Policy, Griffith University, Queensland, Australia
14:40 Option 1 - Succession law case study using trusts (follow up from earlier panel session)
Richard Frimston TEP, Chair of STEP Cross Border Estates Group, Russell-Cooke, UK
Edmund Leow, Baker & McKenzie LLP, Singapore
14:40 Option 2 - Purpose Trusts, STAR Trusts and VISTA Trusts - How can they be best used?
Raymond Gwee TEP, UBS Trustees, Singapore
Simon Beck TEP, Baker & Mckenzie LLP, Miami
14:40 Option 3 - Foundations and Trusts. How to decide which to use?
Robert Kirkby, Jersey Finance, Jersey
Paul Hodgson, Butterfield Trust (guernsey) Limited, Guernsey
Mark Bridges TEP, Farrer & Co LLP, London
14:40 Option 4 - Family Business - working with the next generation (follow up from earlier talk on shareholders in family business)
Bill Ahern TEP, Family Capital Conservation Limited, HK
James Aitken TEP, HSBC Trustee (Singapore) Ltd, Singapore
15:25 Networking session and refreshments
Change of Breakout sessions
15:55 Option 1 - Succession law case study using trusts (follow up from earlier panel session)
15:55 Option 2 - Purpose Trusts, STAR trusts and VISTA trusts - how can they be best used?
15:55 Option 3 - Foundations and trusts - How to decide which to use?
15:55 Option 4 - Family Business - working with the next generation (follow up from earlier talk on Shareholders in Family Business)
16:40 Debate - Gordon Brown & Nicholas Sarkozy are right - Tax Havens really are finished
Chair - Peter Niven, Director, Guernsey Finance, Guernsey
For - Richard Hay TEP, Stikeman Elliott, UK
Against - David Brownbill QC TEP, UK
17:25 Conference Close - Chairman of STEP Singapore
18:00 Farewell Cocktails and Dinner, Long Bar Steakhouse, Raffles Hotel
Kindly sponsored by Charles Monat
18:00 Farewell Cocktails and Dinner extra tickets
Programme
19/10/2009
18:00 Welcome cocktail reception, Long Bar, 2nd Floor, Raffles Hotel
Kindly sponsored by Azure Tax
20/10/2009
08:00 Continental breakfast and registration
08:45 Welcome from STEP Singapore
Angelo Venardos TEP
Chairman, STEP Singapore Branch
08:50 Welcome from STEP Worldwide
Nick Jacob TEP, Deputy Chairman, STEP Worldwide
08:55 Keynote Address
Mr K Shanmugam, Minister for Law and Second Minister for Home Affairs, Singapore
09:25 Refreshment Break
09:40 Tax and information exchange agreements - The future
- A review of European & US/Caribbean attitudes, precedents and politics
- The policy, media, leverage and high level technical issues
- Where do we go from here?
Richard Hay TEP, Stikeman Elliott, UK
10:20 The new global framework for wealth structuring (1)
- Future role of IFC's
- New regulatory framework
- Comments on speech on TIEAs
Geoff Cook, Jersey Finance, Jersey
Jonathan Hooley, Senior Advisor, External Affairs, Guernsey
Mark Jackman TEP, Rothschild Private Banking & Trust, Singapore
Prof. Jason Sharman, Centre for Governance & Public Policy, Griffith University, Queensland, Australia
Kindly sponsored by Guernsey Finance
10:50 The new global framework for wealth structuring (2)
- Singapore's position on EU Savings Directive
- EUSD - extension to discretionary trusts?
- Information exchange on demand
John Riches TEP, STEP Public Policy, UK
Gurbachan Singh TEP, KhattarWong, Singapore
Representative from Financial Times
11:20 Networking and Refreshments
11:50 A digest of recent trust cases from around the world
Mark Bridges TEP, Farrer & Co LLP, UK
12:20 The use of trusts to protect assets
- What is asset protection and what is not?
- Asset protection laws in various jurisdictions
- The Statute of Elizabeth and other fraudulent conveyance laws
- Theory and practice
- The impact of bankruptcy courts
- The impact of divorce courts
- Family partnerships as an alternative?
Kenny Foo, JP Morgan, HK
12:50 Lunch
Kindly sponsored by Guernsey Finance
14:00 Private Trust Companies - Practical use across the jurisdictions
- Are they suitable for everyone worth US$25m plus?
- Should they be set up using Purpose trusts, STAR trusts, Foundations or Companies Ltd by Guarantee as the holding vehicle?
- Directors' jurisdictional issues
- The agreement with the administrator
- Can they be properly run by family members?
Simon Beck TEP, Baker & McKenzie LLP, Miami, US
Kindly sponsored by Rothschild Trust (Singapore) Limited
14:30 Option 1 - The Caribbean's approach to tax and information exchange agreements
Simon Beck TEP, Baker & McKenzie LLP, Miami, US
14:30 Option 2 - The shifting paradigm in philanthropy
- The evolving donor enterprise and communities of interest
- Emergin structures in Asia
- Investing in the new social economy
- More public scrutiny: changing government policies, nonprofit governance standards
- Impact conundrum: value-for-money donated versus meeting real needs
Cynthia D'Anjou Brown, HSBC Family Office Services Limited, HK
Stacy Choong, Rajah & Tann LLP, Singapore
14:30 Option 3 - Regional jurisdictional trust update - a dialogue between a draftsperson and trustees
- Brunei
- Labuan
- Hong Kong
- Singapore
David Brownbill QC TEP, UK
Martin Crawford, Labuan IBFC, Malaysia
Bill Ahern TEP, Family Capital Conservation Limited, Hong Kong
Luke Peng TEP, SG Trust (Asia) Ltd, Singapore
Santhi Roy Prabhakaran, HMR Trust Ltd, Brunei
14:30 Option 4 - Current thoughts on letters of wishes
Mark Lea, Lea & White, HK & Singapore
15:15 Networking & Refreshments
15:45 Option 1 - The Caribbean's approach to tax and Information exchange agreements
15:45 Option 2 - The shifting paradigm in philanthropy
15:45 Option 3 - Regional jurisdictional trust update - a dialogue between a draftsperson and trustees
15:45 Option 4 - Current thoughts on letters of wishes
16:30 Why are IFCs suffering political attack?
- Are they really vehicles for crime
- Do IFC's erode the tax base of OECD countries?
- How do IFC's facilitate tax competition?
- Do IFC's undermine the stability of global financial architecture?
- Why are they suspicious to tax authorities?
Professor Jim Hines, University of Michegan, US
17:15 Day 1 Close
18:00 Cocktail Reception and Dinner, East India Room/Bar & Billiard Room, Raffles Hotel
Kindly sponsored by Labuan IFC
18:00 Cocktail Reception and Dinner extra tickets
Kindly sponsored by Labuan IFC
21/10/2009
08:00 Continental breakfast
Exhibits open
09:00 STEP international education update
Bill Howarth, Central Law Training International, UK, Singapore and Middle East
09:15 Trusts - Compliance versus confidentiality
- Where are we going with compliance requirements?
- Differences between jurisdictions
- Can we wed compliance and confidentiality?
- Why is confidentiality so important in reality?
Yeoh Lian Chuan TEP, Rajah & Tann LLP, Singapore
09:45 Legal reciprocity (comity) issues across the frontiers as they affect trusts
- Recognition of trusts in different jurisdictions
- Jurisdiction - that of management, proper law or asset location?
- Recipricol enforcement of judgments
- Divorce issues
David Brownbill QC TEP, UK
10:15 Latest developments in the US
- US expatriation - easier or more difficult under the new rules?
- VD - a new US Government disease?
- Stop Tax Haven Abuse Act - some variations on a theme
- Delaware LLCs - a spent case?
- Limited liability partnerships
- Nongrantor Trusts - strategic planning opportunities
Mimi Hutton TEP, Withers, HK & Joseph Field, Withers Worldwide, New York
10:45 Networking session & refreshments
11:15 Case study in respect of the use of Trusts - Trustees as shareholders in a family business
- Dividend policy
- Employment of family members
- Interaction between trustees and directors
- Voting control
- How to be fair between beneficiaries
- Who is to retain control?
John Riches TEP, STEP Public Policy
Mark Bridges TEP, Farrer & Co LLP, UK
Nick Jacob TEP, Lawrence Graham LLP, UK
James Aitken TEP, HSBC Trustee (Singapore) Ltd, Singapore
Kindly sponsored by Rawlinson & Hunter
12:05 Panel session on succession law issues
- Common law v Civil law jurisdictions
- Religious based and other jurisdictions
- Forced heirship and other succession law requirements
- Brussels IV Europe
Richard Frimston TEP, Chair of STEP Cross Border Estates Group, Russell-Cooke LLP,UK
Edmund Leow, Baker & McKenzie, Singapore
12:45 Lunch
Kindly sponsored by Rawlinson & Hunter
14:00 Panel session on the contribution that the offshore financial centres make to higher tax jurisdictions
Richard Hay TEP, Stikeman Elliott, UK (Chair)
Yeoh Lian Chuan TEP, Rajah & Tann LLP, Singapore
Gurbachan Singh TEP, KhattarWong, Singapore
Jonathan Hooley TEP, States of Guernsey, Guernsey
Prof. Jason Sharman, Centre for Governance & Public Policy, Griffith University, Queensland, Australia
14:40 Option 1 - Succession law case study using trusts (follow up from earlier panel session)
Richard Frimston TEP, Chair of STEP Cross Border Estates Group, Russell-Cooke, UK
Edmund Leow, Baker & McKenzie LLP, Singapore
14:40 Option 2 - Purpose Trusts, STAR Trusts and VISTA Trusts - How can they be best used?
Raymond Gwee TEP, UBS Trustees, Singapore
Simon Beck TEP, Baker & Mckenzie LLP, Miami
14:40 Option 3 - Foundations and Trusts. How to decide which to use?
Robert Kirkby, Jersey Finance, Jersey
Paul Hodgson, Butterfield Trust (guernsey) Limited, Guernsey
Mark Bridges TEP, Farrer & Co LLP, London
14:40 Option 4 - Family Business - working with the next generation (follow up from earlier talk on shareholders in family business)
Bill Ahern TEP, Family Capital Conservation Limited, HK
James Aitken TEP, HSBC Trustee (Singapore) Ltd, Singapore
15:25 Networking session and refreshments
Change of Breakout sessions
15:55 Option 1 - Succession law case study using trusts (follow up from earlier panel session)
15:55 Option 2 - Purpose Trusts, STAR trusts and VISTA trusts - how can they be best used?
15:55 Option 3 - Foundations and trusts - How to decide which to use?
15:55 Option 4 - Family Business - working with the next generation (follow up from earlier talk on Shareholders in Family Business)
16:40 Debate - Gordon Brown & Nicholas Sarkozy are right - Tax Havens really are finished
Chair - Peter Niven, Director, Guernsey Finance, Guernsey
For - Richard Hay TEP, Stikeman Elliott, UK
Against - David Brownbill QC TEP, UK
17:25 Conference Close - Chairman of STEP Singapore
18:00 Farewell Cocktails and Dinner, Long Bar Steakhouse, Raffles Hotel
Kindly sponsored by Charles Monat
18:00 Farewell Cocktails and Dinner extra tickets
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