The UK's Trustee Act 2000 has been good news for advisers. In general, it places trustees under...
The UK's Trustee Act 2000 has been good news for advisers. In general, it places trustees under a statutory obligation to seek professional advice on investment matters and this has resulted in significant business opportunities for advisers who operate in the trustee investment market. Apart from the Trustee Investment Act 1961 (TIA), the new act is the first major legislative change to the law concerning trustee investments since the Trustee Act 1925. It came into force on 1 February 2001 and applies to any trust subject to the law of England and Wales. Before the act, trusts wit...
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