Today is World Mental Health Day. This year’s theme is ‘making mental health and wellbeing for all a global priority’. This provides a welcome opportunity for STEP to reflect on how mental health impacts on the work of our 21,000 members in 96 countries.… Read More What is the advisor’s role in relation to mental health and capacity?
Anti-Money Laundering Europe (AME) hosted a webinar on 29 September that was moderated by the chairman of STEP Europe, Paolo Panico TEP.… Read More Anti-Money Laundering Europe (AME) roundtable on the EU’s AML/CFT legislative package
HMRC has introduced new processes for trustees and their agents to register trusts on the Trust Register Service (TRS) in the UK which will be implemented on 1 September 2022. Deadlines for registering a trust The deadline for registering most trusts on the TRS is 1 September 2022. More information on the trusts that need to… Read More HMRC introduces new Trust Register Service processes
The Law Commission of England and Wales published a consultation paper on 28 July seeking views from legal and technology experts in order to examine how existing personal property law should apply to digital assets. The UK government has asked the Law Commission to make recommendations for reform to ensure that the law is capable… Read More England and Wales Law Commission consults on reforming the law relating to digital assets
The UK-based Mental Health Foundation organises Mental Health Awareness Week, which this year has the theme of loneliness. STEP is acutely aware of the impact of loneliness on not just people’s emotional well-being but also their financial security. We covered the issue of predatory marriage in a recent issue of the STEP Journal. Older people… Read More Older people need connection, not just physical safety
In light of Russia’s continuing war of aggression against Ukraine, the European Council (EC) has imposed a fifth package of economic and individual sanctions against Russia on 8 April 2022. This blog explains the purpose of these sanctions and the actions that EU practitioners who are involved in Russian trusts need to take as a… Read More European Council imposes fifth package of sanctions against Russian trusts
The UK’s HM Revenue and Customs (HMRC) has recently published a review of its powers to tackle poor agent behaviour and uphold standards for its agents. This follows an HMRC call for evidence in 2020 about raising standards in the tax advice market, which STEP responded to. STEP also replied to the consultation through the… Read More HMRC releases report on its review of powers to uphold its standard for agents
STEP is delighted to confirm that the Office of the Public Guardian (OPG) has agreed to change its guidance on the requirement to have express provision for a discretionary investment management clause within a financial lasting power of attorney (LPA) in England and Wales. Many attorneys do not have the necessary expertise to invest their… Read More LPAs no longer require discretionary investment express provision
The Financial Action Task Force (FATF) announced a public consultation of its review of Recommendation 24 in 2020. STEP attended multiple public and private meetings with FATF to discuss the potential amendments to the regime. The overarching objective of the review is to strengthen the measures in place and mitigate the obstacles to transparency and risks… Read More FATF’s adopted amendments to Recommendation 24
What evidence is there that Continuous Professional Development (CPD) is effective? Research already exists on the value and impact of CPD on individuals but little on its value and impact on the professions, the general public and the employers. To help address this knowledge gap, STEP was one of the partners in a research consortium… Read More Research shows value of Continuous Professional Development (CPD)
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