Swiss trust industry looks at possibility of specialist regulator

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The Society of Trust & Estate Practitioners (STEP) in Switzerland says new research reveals a willingness amongst trust practitioners to consider changes to the regulatory regime for trusts on the basis of a more trustee-specific regulator.

David Harvey, Chief Executive of STEP Worldwide, believes the survey’s results demonstrate how trust practitioners are upbeat about growth. What’s more, he adds, such research confirms the need to explain any proposals to review the regulation of trustees as it would show practitioners the benefits to their businesses.   Key points from the survey confirm that 76% of members anticipate the Swiss trust industry to grow or maintain its position despite prior predictions that the ‘end of secrecy’ would have a negative impact. Members have also shown themselves to be divided right down the mi...

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