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The Jersey Experience – Fourteen Years of Trust Company Regulation and the Impact on the Beneficial Ownership Debate, including Public Registers and the Disclosure of Beneficiaries of Trusts
Tuesday 24 March 2015, 16:00 - 18:30

About this Seminar

The changing landscape of regulation together with international debate on exchange of information, transparency and topical debating issues such as public registers of beneficial ownership all suggest the means to address such matters may include the licensing, regulation and oversight of trust company businesses.

The Jersey Financial Services Commission (the Commission) has been regulating and supervising trust and company service provider businesses (TCSPs) since 2001 as well as running a central but non-public register of the beneficial ownership of companies and other legal persons. In this presentation, the Commission would like to share its experience as a trust company regulator and custodian of a beneficial ownership register, what has worked well and less well and how it sees the potential for such a regulatory framework to provide at least part of the solution to the need for modernising current practice. The speakers will thus seek to address current issues and pressures for industry practitioners and jurisdictions including the public register and disclosure debate relating to companies, other legal persons and beneficiaries of trusts.

Thanks to the kind sponsorship of the Jersey Financial Services Commission, STEP Members are invited to attend on a complimentary basis!  

Seminar Programme

4.30 –4.45pm

Registrations & Refreshments

4.45 –4.50pm

Opening Remarks by Chairperson:

·      Mr. Lee Chiwi - Chief Executive, Rockwills Singapore

4.50 –5.50pm

The Jersey Experience – Fourteen Years of Trust Company regulation and the impact on the beneficial ownership debate, including public registers and the disclosure of beneficiaries of trusts

·       Lord John Eatwell – Chairman of the Jersey Financial Services Commission

·     Mr. John Harris - Director-General of the Jersey Financial Services Commission

5.50 –6.15pm

Q & A Session

Closing Remarks by Chairperson & STEP rebranding presentation

6.15 -7.15pm 

Networking Cocktails         

About the Chairperson

Mr. Lee Chiwi – Chief Executive, Rockwills Singapore

Lee Chiwi was called to the Bar of England & Wales as a Barrister-at-Law in 1986 and admitted as an Advocate & Solicitor of Singapore in 1988. He has a MBA and is a TEP (Trust and Estate Practitioner). A former legal practitioner, he joined British and Malayan Trustees Limited (BMT) as its CEO in 2005. In early 2008, he joined the Rockwills Group in Singapore as CEO. Rockwills is in the business of Wills, Estate Planning, the administration of Trusts and onshore and offshore corporate structures. Lee Chiwi is the author of various books including “The Rockwills Guide to Succession and Trusts in Wealth Management” and “Drafting of Trusts and Will Trusts in Singapore” which he co-authored with the principal author James Kessler Q.C. He is now the Chair of STEP Singapore Branch.

About the Speakers

Lord John Eatwell – Chairman of the Jersey Financial Services Commission

He is also the president of Queens’ College, Cambridge and emeritus professor of financial policy at the Judge Business School. In 1992 he entered the House of Lords, and from 1993 to 1997 was Principal Opposition Spokesman on Treasury and Economic Affairs, a position he also held from 2010-13. In 1988 he, with others, to set up the Institute for Public Policy Research, one of Britain’s leading policy think-tanks, where he remains a trustee. He was a member of the Board of the Securities and Futures Authority, 1997-2001, and of the Regulatory Decisions Committee of the Financial Services Authority from 2001 until 2006. Currently, he is an economic adviser to two private equity firms, E.M. Warburg Pincus & Co. International Ltd., and Palamon Capital Partners, LLP. He is a non-executive director of NewDay Ltd, a credit card company, and chairman of the Royal Opera House Pension Fund. Lord Eatwell joined the Board of Commissioners of the Jersey Financial Services Commission on 22 April 2010 and was appointed Chairman on 17 June 2014.

Mr. John Harris - Director-General of the Jersey Financial Services Commission

John is a modern languages graduate from Exeter University and came to the Commission after a 25-year Banking career in 8 different countries (including Singapore and Hong Kong) with the NatWest Group. His last role was as CEO of the NatWest Offshore Group and he had a 4-year spell with the Island’s Government as a key adviser on financial services before taking up his role at the Commission. John is also a Fellow of the Chartered Institute of Bankers. 


For more information, please contact the STEP Secretariat at +65-31287781 (VOIP no., no 6 prefix required) or email This email address is being protected from spambots. You need JavaScript enabled to view it.. Simply download and return the completed registration form and e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it. or fax to +65-31287781 (no 6 prefix required) before the closing date  17th March 2015.

Location :M Hotel, Anson II Level 2, 81 Anson Road, Singapore 079908
Contact :E-mail; This email address is being protected from spambots. You need JavaScript enabled to view it.; Tel: +65-31287781

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