International Pressures on Switzerland: Only A First Step? (21 May 2012, FTSE Room, Capital Tower)

An expert observer from Switzerland will comment on how Switzerland has implemented or is implementing various regulations, including also the tax cooperation agreements that Switzerland has already signed with Germany and the United Kingdom, and the new strategy of the Swiss Federal Council for Switzerland as a financial centre. The next steps in Switzerland will certainly have an influence on other financial centres and this will also be discussed.

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STEP Symposium 2012 - Focus On The Family (28 June 2012, Maxwell Chambers)

Statistics show that for every 10 new marriages in Singapore each year, about 3 end in divorce, with an average of over 7,000 divorces per annum. STEP Singapore is pleased to present this 1/2-day Symposium that focuses on the latest issues and developments relevant to planning for families, presented by leading industry practitioners sharing from perspectives most relevant to trust and estate practitioners.

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Post Event Update: Use of Trusts in Pre-IPO Planning (13 February 2012, Oasis Theatrette, Park Mall)

Mr. Todd Beutler and Mr. Stephen Nelson provided a thorough analysis of Singapore, Hong Kong and China perspectives, with an emphasis in solutions using trust structures geared for US connections and their own experiences in this field.

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Post Event Update: Founder's Award ceremony and Lo Hei Celebration
(2 February 2012, Guild Rooms, Suntec City Mall)

STEP Singapore welcomed in the new Year of the Dragon with a Lo Hei celebration. This happy occasion also served to present the Founder´s Award to our very own Gurbachan Singh for his outstanding long term contribution to the Society.

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Post Event Update: Wills Boot Camp 2012
(10 January 2012, FTSE Room, Capital Tower)

January´s STEP event centered on the use of wills as a first step to develop an estate planning strategy for clients and families, presented by Lee Chiwi, CEO of Rockwills Trustee Ltd.

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Post Event Update: 3rd STEP Singapore Graduation Ceremony (18 October 2011, Maxwell Chambers)

This year, thirty three students successfully completed the STEP Foundation Certificate & Diploma in International Trust Management, fourteen of which graduated with distinctions.

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Post Event Update: Family Philanthropy In Asia: Characteristics, Trends And Challenges (18 October 2011, Maxwell Chambers)

The growing interest in philanthropy planning among high net worth families in Asia has led to researches being conducted to facilitate better understanding of needs in Asia.

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President's Message

Dear Fellow STEP Members,

STEP Singapore has just closed a hugely successful STEP Asia Conference 2011. This conference was a sellout with 400 delegates of which 62% were delegates from overseas. For those who could not make it to attend the conference, you can read the summary in this enewsletter. Besides learning and exchanging views, it was an excellent networking time for peers in the industry. The landscape in which we operate is challenging and ever changing but I certainly think it is an interesting time for us. STEP produced a report “Future of Asian Trust and Estates Report” giving an insights on where this industry is heading. You can find the report HERE [CLICK TO DOWNLOAD]. The Committee will continue to bring to you relevant and useful seminars, look out for our next networking event in first quarter of 2012.

Finally, I would like to wish you a Merry Christmas and a blessed year in 2012.

Goh Seow Chee
President, STEP (Singapore Chapter) (2011-2012)

President's Message

Dear Fellow STEP Members,

It is my honour to serve as President of STEP Singapore Branch. We are faced with a choppy recovery of world economy, stringent regulatory environment and constant changing tax regulations. I would like to see the Branch to be used by members as a platform to share experience and learn as we move into a challenging era of our time.

Estate planning in the recent years has changed from what used to be "simple" planning to a more wide range, comprehensive planning for many families. Aspects such as planning for their family business, family governance and philanthropy are common discussion topics with families. As professional advising families, we need to equip ourselves with current knowledge to make our conversations with families meaningful. To bring to bear our expertise to the families we advise. In this connection, the Branch is committed to bring you topics that are useful and relevant for your professional development, as you will see in this coming STEP Asia Conference with a good range of topics.

As the trust industry grows, we are also facing a shortage of trust professionals. I have seen many interested persons who would like to join our profession. Training therefore becomes critical to bring up the skill level across the industry. In this regard, I would like to be able to work with partners in our industry to increase the level of professionalism of trust practitioners in Singapore through course syllabus, course availability and enhancement.

STEP Singapore has a healthy growing membership especially our student membership. Notwithstanding, we would like to reach out to other professionals in Singapore, familiarise them of our activities and encourage them to join our profession. In some ways, these professionals' services are interconnected to our area of practice.

I look forward to an exciting year. First and foremost, I would like to thank my committee members for supporting me in this journey. My fellow committee members are :-

I will keep you posted with development of our Branch through our E newsletter. Finally, I look forward to your participation in the Branch's activities.

Goh Seow Chee
President, STEP (Singapore Chapter) (2011-2012)

STEP OUT FOR THE NIGHT. STEP UP FOR A CAUSE

- The STEP (Singapore)-STA Inaugural Charity Gala Dinner (29 June 2011, Fairmont Hotel, Singapore)

When the Organising Committee of the STEP (Singapore)-STA Inaugural Charity Gala dinner initially took on the challenge of organising the industry's first ever gala dinner and further in support of a charity, we were mindful that we were making history.

After all, the aim was not just to provide a platform to rally the entire wealth management industry to support the "Special Needs Trust Company" - a charitable cause in essence rooted in the concept of "trusts" which both STEP and STA are premised upon. The "Special Needs Trust Company" was created to help families that have special needs children. The anxiety of parents, whether they are high net worth or otherwise, is the same, the care of their special need children when they pass on.

It was a fantastic first experience for STEP (Singapore), a memorable event which would live on beyond the night for all those involved.

The attendance was impressive for our inaugural charity dinner, attended by more than 370 guests, supported by 23 sponsors and almost 30 companies and individuals who booked tables and raising more than S$111,000 for charity.

More heartening was the feedback from many guests that they had a hugely enjoyable evening among new and old friends and colleagues from the industry.

We certainly hope it will become a regular feature in our calendar!

Thanks again to our Guest-of-Honour - Mdm Halimah Yacob, our sponsors, members and guests for making the night possible.

2011-2012 Committee

We are pleased to announce STEP Committee 2011-2012 as confirmed at the AGM on 30 June 2011:

President – Goh Seow Chee
Vice President – James Aitken
Treasurer – Lim Wan Peng
Secretary – Alexis Medina
Committee Member – Lee Chiwi
Committee Member – Seema Bhayat

How to Become a Member

Membership of STEP is obtainable only by examination or other test of professional competence, for information on membership routes click here.

We have been informed by STEP UK that all STEP members should now update their details online at www.step.org/login. They have requested that we do not accept updates via email.

To login:
- Your username: is your STEP membership number (this can be found on any letters you have received from STEP and your STEP membership card)
- Your password: is your surname with a capital letter.

It is important to keep your details up to date in order to receive your STEP Journal and information on your membership, upcoming conferences and other important details.

Instructions on how to navigate the STEP website can be found here. However if you do experience difficulties please email step@step.org directly.

Tel: +65-31287781
(VOIP no., no 6 prefix required)

Fax: +65-31287781
(VOIP no., no 6 prefix required)

E-mail: secretariat@step.org.sg

STEP Singapore has launched a cost-effective recruitment classifieds service for prospective employers within the vibrant trust industry.

For more details or to place your ads, please visit http://step.org.sg/recruitment.