STEP Singapore looks forward to hosting our third ‘Trusts Across the Frontiers’ Conference. This year’s programme builds on the success of our sell-out 2007 conference combining current issues and practice sessions covering trust and tax areas, both old and new.

We have again managed to invite a truly authoritative faculty. Our keynote address, by the Singapore Minister of Law & Second Minister for Home Affairs, Mr K Shanmugam will focus on ‘Singapore’s Position in Relation to the Transnational Organisations as the OECD’. This will be followed by Richard Hay of the UK, addressing the issue of ‘Tax and Information Agreements – The Future’. The new global framework for wealth structuring, and the use of trusts to protect assets in the current global environment receive much warranted attention.

We also focus on regional jurisdictional trust updates with a dialogue between the draftsperson and trustees. Speakers this year will travel from Jersey, Guernsey, Hong Kong, the UK, Australia, Labuan, Brunei and the USA. This conference is both varied and rigorous in providing the opportunity to review and to network. Both the presentations and break-out sessions will allow attendees to gather further insight into industry developments, post sub-prime and G20. We look forward to seeing you in Singapore.

For further information, download the Conference brochure, visit www.step.org/ asia2009 or contact Laura Callicott on +44 (0)1423 85 11 57 or email laura.callicott@barkerbrooks. co.uk.

Singapore's Role in the Trust Industry 5 Years On – 30 June 2009 (FULL – Registrations closed!)

STEP Singapore invites you to attend its upcoming evening seminar on "Singapore's Role in the Trust Industry 5 years On" at which our speaker Mark Lea shares his answers to the following questions:

• Nearly five years after the changes to the Trustees Act of Singapore, how does the trust law of Singapore compare with that of other jurisdictions?
• Does the nature and content of this law influence Singapore’s position in the Trust Industry or are there other factors of more relevance?
• How has the global financial crisis effected the Trust Industry generally and Singapore in particular and what lessons are there to be drawn from this for the future?
• How have the requirements of the USA, OECD and FATF for transparency and reporting affected the Trust Industry generally and Singapore in particular?
• What is Singapore’s apparent response to such challenges and how does such response compare with that of others?
• Will there be “a level playing field” and, if so, when?
• What is the effect of all this on the Trust Industry in Singapore now and what is the likely effect of this in the foreseeable future?
• What is the future of the Trust Industry generally and of the role of IFCs in particular and how is Singapore positioned in that respect?

Members of STEP, CPA Australia, CPA Singapore/ICPAS, International Fiscal Association (IFA), Law Society of Singapore, Singapore Corporate Counsel Association (SCCA), Singapore Trustees Association (STA) and Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA) enjoy preferential rates.

Register early to secure your place by completing and faxing the registration form to 63299699 or via e-mail by 23 June 2009!

Changes to STEP Joining Fees from 1 April 2009

This is to advise you of an additional fee which will affect STEP membership applications effective from 1st April 2009.

STEP has introduced a TEP Registration Fee of £75.00 for those upgrading or applying for full membership only. I attach a document detailing which applications it will apply to.

The TEP registration fee is a one off fee for those applying for full membership only. In subsequent years of membership only the annual subscription fee will apply. All applications submitted to the STEP Worldwide office must include the correct subscription fee and the TEP registration fee if applicable.

The application forms are currently being updated and will include full details of what payment is required. We will circulate the forms as soon as copies are received.

If you require any clarification, please contact Ms Carilyn Clements, Membership Manager of STEP at Tel: +44 (0) 20 7340 0518 or e-mail Carilyn.Clements@step.org.

I thank you for giving me the opportunity to lead our international industry body here in Singapore, when we are all facing many challenges, post-sub-prime, G20 and the other paradigm shifts taking place.

However, as we all know too well, where there is crisis, there are opportunities.

Whether the IFCs are facing another round of "name and shame" challenges, or Singapore has been put on some arbitrary political list, our clients will continue to seek our counsel ,will require us to provide them with the options, solutions and high standards of service , they have come to expect of our profession.

At the time of writing, our Branch has a total of 384 members including 182 full members and 188 student members.

Going forward, STEP Singapore can look forward to a well run secretairate, with a sound financial position, and a growing membership base.

The hosting of this year’s STEP Asia conference in Singapore during 20-21 October, is something that I have been personally involved with. We can look forward to hearing from an list of international, and from around the region, excellent speakers,plus the all important networking opportunities.

Further, as President, I will seek to communicate regularly with the membership, seek your participation and views on matters relating to our professional body, and to seek to reach out to all in the trust industry in Singapore.

In closing, I wish to thank Bill Lexmond for the huge effort he has put in over the past 9 years, and look forward to working with my fellow Committee members;

Vice President: Alex van der Zwaard
Treasurer: Ong Beng Lay
Secretary: Gurbachan Singh
Assistant Secretary: Lee Chiwi
Committee Member: Eli Lenyoun

Angelo Venardos TEP
President, STEP (Singapore Chapter)
1 July 2009

President – Angelo Venardos
Vice President – Alex van der Zwaard
Treasurer – Ong Beng Lay
Secretary – Gurbachan Singh
Assistant Secretary – Lee Chiwi
Committee Member – Eli William Lenyoun

Based on the nomination forms received, the following Full Members have been nominated for positions on the STEP (Singapore Chapter) Committee for 2009-2010:

Gurbachan Singh
Secretary, STEP (Singapore Chapter)
25 June 09

Gurbachan Singh
Secretary, STEP (Singapore Chapter)

Dear members,

I write to you to advise that there will be a change of leadership for the Branch as at the Annual General Meeting. I thank you all for your support over the last eight years that I have had the pleasure and the honour of acting as Chair for the Singapore Branch. It has been a period of activity, growth, experimentation and hopefully for you members, benefits.

I also wish to let you know that at this AGM, we wish to pass amendments to the Constitution. The aim is to make the governance more efficient by expressly permitting the use of electronic media for official Branch communications. That should enable all members to be contacted expeditiously. In order to enable this, amendments must be made. Also, the method for choosing the Executive Committee for the Branch is to change. The process will be more formal, both to enable members to know who is running for office in advance of the AGM as well as to provide some structure to the process.

The current executive has agreed to continue in office. Angelo Venardos has agreed to take over as President of the Branch. They will be using the revised procedures even though there is no requirement to do so before the Constitution in amended. Should other members wish to put themselves forward, I would ask that you follow the nomination procedures outlined in the information accompanying the AGM notice. Although it is possible to nominate from the floor at the AGM as permitted under the current terms of the Constitution, using the revised procedures should demonstrate their efficacy and utility to members (and perhaps enhance the numbers attending the AGM).

The Branch is in good shape. Participation in the STEP Asia conference (which is again in Singapore this October) has allowed us to generate sufficient resources to allow the Branch to be supported administratively by Intellitrain for the past 3 years. That has allowed us to provide enhanced services to Branch members.

I would ask that you make the effort to attend the AGM at the M Hotel on 30 June. There will be an interesting presentation by Mark Lea followed by the AGM proper. In order to have quorum for the purposes of amending the Constitution (details have been sent to you and are included in this notice), we must have 30 voting members present when the votes are cast.

Again, thank you for your support these many years and I look forward to seeing you at the AGM on 30 June to move into the next phase of the Branch's development.

Thank you and best regards,
Bill Lexmond
President, STEP (Singapore Chapter)
1 June 2009

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.

Member Services

To enhance interaction among members of STEP Singapore, we have launched the STEP Forum – a bulletin board that enables members to share, distribute and gain access to relevant resources on-line, and to exchange views and ideas on trust and estate practice.

• Join the Forum
• Login to the Forum
• View terms of use for the Forum
• To find out more, you can view the Frequently Asked Questions or contact webmaster@step.org.sg

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/mydetails. 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: 31287781
(VOIP no., no 6 prefix required)
Fax: +65 63299699
E-mail: secretariat@step.org.sg