STEP Asia Conference – Tax & Trusts in Asia Back to Our Future
8-10 November 2010
Programme
08/11/2010
18:00 Welcome cocktail reception
The Lounge, JW Marriott Hotel, Pacific Place
Kindly sponsored by Azure Tax
20:00 Speaker's Dinner
The Fish Bar, JW Marriott Hotel, Pacific Place
Kindly Sponsored by Jersey Finance
09/11/2010
08:00 Continental breakfast & registration
Exhibits open
08:50 Welcome from STEP Hong Kong
Mimi Hutton TEP, Chair, STEP Hong Kong Branch
08:55 Welcome from STEP Worldwide
Nick Jacob TEP, Deputy Chairman, STEP Worldwide
09:00 G20 and International Financial Centres
Richard Hay TEP, Stikeman Elliott, UK
•G20’s transparency program has led to more TIEA’s and DTA’s being signed in the last year than the previous decade. What does this mean for you and your clients?
•Automatic or spontaneous exchange of tax information looms large in the plans of the large developed economies. How likely is it that automatic exchange will replace exchange on request and how would this change affect our industry?
•What G20 needs to know about international financial centres
Kindly sponsored by Southpac Group
09:45 Legal Professional privilege / banking secrecy and implications under AML and MLAT rules and exchange of information agreements
John Hart TEP, J W Hart Ltd, New Zealand
Craig Murphy TEP, Amicorp Hong Kong Limited, HK
• Where does legal professional privilege now stand in the light of the new standards for tax information exchange, recent AML laws and modern mutual legal assistance treaties?
• What are the practical implications for lawyers and their clients?
Kindly sponsored by Global Pensions Group
10:30 Networking and Refreshments
11:00 Trust Law Update - Update on recent cases
Richard Pease TEP, Lenz & Staehelin, Geneva, Switzerland
• Recent landmark trust cases from around the world and what they mean for the administration of trusts
Kindly sponsored by Labuan IBFC
11:30 Planning for PRC and India - inbound and outbound issues
Moderator - John Riches TEP, Chairman, Public Policy Committee, STEP Worldwide
PRC
Yongjun Peter Ni, White & Case, Shanghai, China
India
Cyril Shroff, Amarchand & Mangaldas & Suresh A Shroff & Co, Mumbai, India
• Changes abound in the attitudes of the two growth engines of the world – the PRC and India - in how they tax their taxpayers on foreign investment and trade and how they tax foreign investors on inbound investments. Speakers examine the main changes and what is necessary to adjust to the new landscapes.
Kindly sponsored by Offshore Incorporations Group
12:30 Keynote Address
Professor K C Chan, Hong Kong Secretary for Financial Services & the Treasury
13:00 Lunch
Kindly sponsored by Guernsey
14:00 Afternoon sessions - In-depth Country Updates
(Choose 1 from 6 concurrent options as stated below)
These sessions examine in detail recent developments in trust and tax law and practice in each jurisdiction and focus on the practical implications for you and your clients.
14:00 Option 1 - UK update
Nick Jacob TEP, Lawrence Graham LLP, UK
14:00 Option 2 - US update
James Tsang, Squire Sanders & Dempsey, HK
14:00 Option 3 - Canadian update
Patrice Marceau TEP, DLA Piper, HK
Steven Sieker TEP, Baker & McKenzie, HK
14:00 Option 4 - Australia / New Zealand update
John Hart TEP, J W Hart Ltd, New Zealand
David Russell QC TEP, Wentworth Chambers, Sydney, Australia
14:00 Option 5 - Taiwan update
Wellington Liu, Tsar & Tsai, Taiwan
14:00 Option 6 - PRC update - a more in-depth presentation following from the morning presentation
Yongjun Peter Ni, White & Case, Shanghai, China
Kindly sponsored by ILS Fiduciaries
14:45 Change of room - Afternoon sessions repeated
15:00 Afternoon sessions - In-depth Country Updates
(Choose 1 from the 6 concurrent options as stated below)
These sessions examine in detail recent developments in trust and tax law and practice in each jurisdiction and focus on the practical implications for you and your clients.
15:00 Option 1 - UK update
Nick Jacob TEP, Lawrence Graham LLP, UK
15:00 Option 2 - US update
James Tsang, Squire Sanders & Dempsey, HK
15:00 Option 3 - Canadian update
Patrice Marceau TEP, DLA Piper, HK
Steven Sieker TEP, Baker & McKenzie, HK
15:00 Option 4 - Australia / New Zealand update
John Hart TEP, J W Hart Ltd, New Zealand
David Russell QC, TEP, Wentworth Chambers, Sydney, Australia
15:00 Option 5 - Taiwan update
Wellington Liu, Tsar & Tsai, Taiwan
15:00 Option 6 - PRC Update - a more in-depth presentation following from the morning presentation
Youngjun Peter Ni, White & Case, Shanghai, China
Kindly sponsored by ILS Fiduciaries
15:45 Networking and Refreshments
16:15 Divorce and Trusts
Russell Coleman SC, Chairman, Hong King Bar Association
• Divorce court attitudes to trusts in general – the changing landscape
• When are trust assets a financial resource of a spouse?
• Court’s powers to make orders with respect to trust assets
• How to protect trusts against attack in divorce cases
17:00 Day 1 Close
18:00 Cocktail reception and gala dinner
The Square, 4/FL Exchange Square II, Central
Kindly sponsored by Business Bermuda
10/11/2010
08:15 Continental breakfast
Exhibits open
09:00 KEYNOTE ADDRESS
The Paradox of Privacy
Michael Mansfield Q.C., London
• What “rights” exist to privacy of financial information and what is their source?
• What are the exceptions to these rights and who has the benefit of them?
• How meaningful are privacy “rights” in the internet age?
Kindly sponsored by Guernsey
09:45 Speaking from Experience
Richard Pease TEP, Lenz & Staehelin, Geneva, Switzerland
Mark Lea, Lea & White International Advisers Ltd, HK
• Drawing on the vast experience of this panel of “senior” practitioners, this session transfers to you that body of experience in how to avoid mistakes and to fix them when they happen.
10:15 Case study on cross-border succession issues
Nick Jacob TEP, Lawrence Graham LLP, UK
Panel of speakers tbc
• The best way to draw out practical issues and problems with cross-border estates is by example. Your panel uses a case study to highlight common complexities and provide simple solutions
Kindly sponsored by Butterfield Trust
11:00 Networking and Refreshments
11:30 Private Client Panel – in which actual clients tell us what they want
Moderated by - Bill Ahern TEP, Family Capital Conservation, HK
Vicky Wong TEP, Goldman Sachs (Asia) LLC, HK
Roy Chen, Grace Financial Limited, HK
• Our normal focus is on us and how we can satisfy our clients’ expectations. In this session we hear from a panel of “buyers” of our services as to what they do and do not want from us.
12:15 STEP Education Update
Rob Rowe, Central Law Training, UK, Singapore and Middle East
12:30 Lunch
Kindly sponsored by ILS Fiduciaries
13:45 Afternoon sessions – Speciality Topics
(Choose 1 from 6 concurrent options as stated below)
These sessions provide a detailed examination of specific topics.
13:45 Option 1 - Working through an actual post-grantor trust planning situation
Mimi Hutton TEP, Withers, HK
Todd Beutler TEP, Withers, HK
13:45 Option 2 - Holding Family Business - Practical Aspects
Kenny Foo, JP Morgan, HK
13:45 Option 3 - Singapore, Hong Kong and Labuan Trust Law updates
Angelo Venardos TEP, Heritage Fiduciary Services PTE Ltd, Singapore
Mark Lea, Lea & White International Advisers Ltd, HK
13:45 Option 4 – Case study – a meeting with the Settlor, and a meeting with the family after the Settlor dies
Thelma Kwan TEP, Barclays Wealth, HK
Vicky Wong, TEP, Goldman Sachs (Asia) LLC
Christian Stewart, TEP, Family Legacy Asia (HK) Ltd
The panalists will share their broad range of experience in dealing with trust beneficiaries after the Settlor's death, and they will discuss what could have been done differently during the Settlor's lifetime with the benefit of hindsight.
13:45 Option 5 – Presentation on Succession and Governance Issues - Working with the Unruly Family: Aligning Multiple Generations of a Family and their Advisors
Dennis Jaffe, Professor of Oganizational Systems and Psychology, Saybrook University, USA
• Gaining Family Commitment to the Work of Governance
• How Family Dynamics and Conflict Influence Multi-Generational Family Enterprises
• Developing Human, Family and Social Capital
• Developing Governance Structures - Family Assembly, Council, Boards and Constitution
13:45 Option 6 - Practical trust administration case studies
Jonathan Hubbard TEP, KCS Services ltd, HK
Miles Le Cornu TEP, BNP Paribas Jersey Trust Corporation Limited, Jersey, Channel Islands
• How to use external suppliers/advisors
• Obtaining tax advice for beneficiaries
• Monitoring investment performance
• Evidencing trustee decisions
• Provision of information to beneficiaries
• Stock exchange reporting
14:30 Change of room - Afternoon sessions repeated
14:45 Afternoon sessions - Speciality Topics
(Choose 1 from 6 concurrent options as stated below)
These sessions provide a detailed examination of specific topics.
14:45 Option 1 - Working through an actual post-grantor trust planning situation
Mimi Hutton TEP, Withers, HK
Todd Beutler TEP, Withers, HK
14:45 Option 2 - Holding Family Business - Practical Aspects
Kenny Foo, JP Morgan, HK
14:45 Option 3 - Singapore, Hong Kong and Labuan Trust Law updates
Angelo Venardos TEP, Heritage Fiduciary Services PTE Ltd, Singapore
Mark Lea, Lea & White International Advisers Ltd, HK
14:45 Option 4 – Case study – a meeting with the Settlor, and a meeting with the family after the Settlor dies
Thelma Kwan TEP, Barclays Wealth, HK
Vicky Wong TEP, Goldman Sachs (Asia) LLC
Christian Stewart TEP, Family Legacy Asia (HK) Ltd
The Panalists will share their broad range of experience in dealing with trust beneficiaries after the Settlor's death, and they will discuss what could have been done differently during the Settlor's lifetime with the benefit of hindsight.
14:45 Option 5 – Presentation on Succession and Governance Issues - Working with the Unruly Family: Aligning Multiple Generations of a Family and their Advisors
Dennis Jaffe, Professor of Oganizational Systems and Psychology, Saybrook University, USA
• Gaining Family Commitment to the Work of Governance
• How Family Dynamics and Conflict Influence Multi-Generational Family Enterprises
• Developing Human, Family and Social Capital
• Developing Governance Structures - Family Assembly, Council, Boards and Constitution
14:45 Option 6 – Practical trust administration case studies
Jonathan Hubbard TEP, KCS Services ltd, HK
Miles Le Cornu TEP, BNP Paribas Jersey Trust Corporation Limited, Jersey, Channel Islands
• How to use external suppliers/advisors
• Obtaining tax advice for beneficiaries
• Monitoring investment performance
• Evidencing trustee decisions
• Provision of information to beneficiaries
• Stock exchange reporting
15:30 Networking and Refreshments
16:00 The Effect of IFC’s on Developing Nations
Professor Jason Sharman, Centre for Governance & Public Policy, Griffith University, Queensland, Australia
• Are IFC’s a force for good or evil?
• What you should know about Professor Sharman’s research paper into this controversial issue and what his conclusions might mean for the future of the jurisdictions in which you operate.
16:45 Debate. Thesis – Secrecy is dead, and so is confidentiality
Michael Mansfield QC, UK
Richard Hay TEP, Stikeman Elliott, UK
John Hart, TEP, J W Hart Ltd, New Zealand
Bill Ahern TEP, Family Capital Conservation, HK
FOR: Richard Hay, Bill Ahern
AGAINST: Michael Mansfield, John Hart
17:30 Mimi Hutton TEP, Chair, STEP, HK Branch
18:30 Farewell cocktails and dinner
Watermark, Central Ferry Pier No. 7, Central
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