STEPPING UP - ISSUE 8 (30 OCTOBER 10)
Well, this isn’t exactly the Cambridge Five espionage (members were Kim Philby, Donald Maclean, Guy Burgess, John Cairncross and Anthony Blunt) or cracking the Da Vinci code stuff but it is nevertheless an anonymous blog and I speak on behalf of several practitioners who have shared with me that they are not completely comfortable with its anonymity and why the need for such “cloak and dagger” lack of transparency.
|Regulation, Confidentiality and Fair Competition|
In a speech at the launch of a new book, “The World’s Leading Financial and Trust Centres”, David Harvey, Chief Executive of the Society of Trust & Estate Practitioners (STEP), praised the “open for business” attitude that has underpinned the success of the Singapore economy. He noted that at a time when some governments elsewhere are in danger of forgetting that capitalism and free trade, not protectionism, have been the main motors behind massive rises in prosperity, “Singapore is an example to everyone of how trade, openness for business and determination can make prosperity” [READ MORE]
Contributed by David Harvey – CEO, STEP Worldwide
|“Up Close & Personal” – Interview with a Member from Singapore Branch|
This section offers members an opportunity to become better acquainted with a STEP member affiliated with the Singapore branch. Any member interested in being interviewed should contact the STEP (Singapore) Secretariat.
In this issue, we feature Mr. Raymond Gwee, who has been conferred the 2010 Distinguished Financial Industry Certified Professionals (Distinguished FICP) award this year.
Getting to know Raymond Gwee
The books I am currently reading are ... The Singularity is Near by Ray Kurzweil.
The person who has been my biggest influence is ... various people have influenced me in different areas.
What I like most about my job is ... The changing complexities in our Industry that challenge us for solutions. There's never a dull day.
My golden rule is ... Integrity is Everything.
The business expression I hate most is ... "having said that ..."
|Jurisdiction Update - Belize|
It is an exciting time for Belize. A Central American country with English law. A Caribbean state that is not an island. An ancient land with a young population. For over 4,000 years... [READ MORE]
Contributed by Rishi Alain Mungal – Morgan & Morgan Trust Corporation (Belize) Ltd
|Book Launch of “The World’s Leading Financial & Trust Centres”|
Hosted by the Singapore Trustee Association (STA), the book “The World’s Leading Financial & Trust Centres,” a compendium of legislative and business analysis of 46 jurisdictions, was successfully launched by Sweet & Maxwell on 6 October 2010 at the Reuters Auditorium in Singapore.
The event was attended by over 100 members of our financial, trust and professional community who heard speeches from Raymond Gwee, President of the STA and David Harvey, CEO of STEP Worldwide. Said Angelo Venardos, who is general editor of the publication, “It is indeed encouraging that we had a good turnout, and more importantly, we had both the STA and STEP working together for the common benefit of the industry.”
Contributed by Keon Chee – Assistant General Manager, Heritage Fiduciary Services Pte Ltd
Browse our PHOTO GALLERY to enjoy some of the photos taken at the Book Launch.
|UPDATES & DEVELOPMENTS:|
|Legitimacy of Tax Planning (2 November 2010, 12-2pm, SGX Centre)|
At this lunchtime presentation, our speaker Nick Jacob will cover the following:
Participants are invited to join us to celebrate our 2nd STEP Singapore Graduation Ceremony 2010 after lunch and preceding the talk.
Register to secure your place by completing and faxing the registration form to 63299699 or via e-mail today!
|"Planning for Indian Clients or Clients looking to make Indian Investments" (14 October 2010, 12.00 - 2.00pm, FTSE Room)|
This seminar was well attended by TEPs, Private Bankers and legal and tax advisors. The Speaker, Ms Sanjvee Shah is a Partner at Speechly Bircham's Private Client Division. She demonstrated her impressive knowledge and expertise in cross-border estate and trust planning issues for Indian clients, and her presentation was particularly useful to trust practitioners as she cited actual case studies involving cross-bottle structuring solutions for wealthy families.
Ms Shah provided the audience with an overview of the Indian tax system, and shared her views on the proposed overhaul of the Indian Tax Code. In line with the growth of the Indian economy and substantial increase in foreign investment into India, Ms Shah's presentation also covered the key aspects of investing into India, including the various structuring options for inward investments into India.
Ms Shah's presentation was extremely well-received by the audience who were impressed by her knowledge and experience.
Contributed by Lim Wan Peng – Senior Trust Advisor, Credit Suisse Trust Limited