It is amazing how fast time goes by. It has already been one year since our committee was appointed. I thank you all for your support for accepting our appointment for another year.
As mentioned during the recent AGM, we had a good run during the 2015-2016 period of office. We managed to host 6 seminars focussed on pressing issues such as the AEOI and CRS, to updates on the regulations and requirements of the Lasting Power of Attorney and handling of vulnerable persons. We managed to work jointly with the Special Needs Trust Company to raise funds for families who require trust assistance as well as jointly hosted the STEP Asia Conference in Singapore. The success of the conference resulted in a significant improvement in the Branch’s financial standing.
What lies ahead then?
We are planning to conduct another round of updates on CRS as soon as the approved guidelines has been issued by the authority. The technical committee of the branch has submitted its feedback to the Ministry of Finance on the public consultation paper on CRS on 29 July 2016. There are also other updates that we are planning to share with members, especially issues relating to corporate risks and offences due to aggressive structures, implications from Brexit etc. Do keep your eyes and ears open for our coming events.
Chairperson, STEP Singapore Branch