Author: STEPeditor

Do UK money laundering regs extend to trusts in other jurisdictions?

STEP’s Isle of Man branch has flagged potential issues raised by the UK Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692) (the Regulations) which give effect to the requirement of the EU Fourth Anti-Money Laundering Directive to have a central register of trusts, and reporting obligations on trustees.… Read More Do UK money laundering regs extend to trusts in other jurisdictions?

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Employer partners gather at STEP Global Congress

We’ve just returned from the STEP Global Congress in Vancouver – what a great event it was, reports Nigel Race. Congress kicked off with two excellent keynote sessions on the theme of change: ‘Change has changed’, which was focused on change in the individual practitioner; and ‘Serving the New Clientele’, which looked at cultural types… Read More Employer partners gather at STEP Global Congress

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Are you a client of Universal Wealth Preservation?

STEP has received an unprecedented number of enquiries regarding Mr Steven Long and the companies of which he is a Director, namely Universal Tax Solutions of Dencora House, 34 White House Road, Ipswich, Suffolk, IP1 5LT, which traded as Universal Wealth Preservation. Associated companies include Universal Asset Protection Ltd and Universal Trustees Ltd. Mr Steven… Read More Are you a client of Universal Wealth Preservation?

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UK agrees company public registers for Overseas Territories

The UK government has accepted an amendment to the Sanctions and Anti-Money Laundering Bill which requires the Overseas Territories to establish public registers showing the beneficial ownership of companies. The amendment, introduced by Labour’s Margaret Hodge and backed by MPs from all the major parties, commits the government to assisting the Overseas Territories in setting up… Read More UK agrees company public registers for Overseas Territories

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STEP Bahamas reports to the FATF Forum in Vienna

STEP was invited to attend the Financial Action Task Force (FATF) Private Sector Consultative Forum in Vienna on 23-24 April. The event consisted of several breakout sessions relating to FATF’s global priorities for Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) in 2018. As part of the Forum, Cecil Ferguson TEP, Chair of STEP Bahamas… Read More STEP Bahamas reports to the FATF Forum in Vienna

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Think you’re covered with a statutory notice? Watch out for a DWP claim

Update 4 July 2018: STEP has liaised with the DWP on this technical issue. Please see its response below. If you work in the probate field you will be very familiar with the process of submitting a statutory advertisement, (under the Trustee Act 1925 for England, or the Trustee Act 1958 in Northern Ireland) in… Read More Think you’re covered with a statutory notice? Watch out for a DWP claim

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