News
Invitation to members to join the Trustee Regulation Subcommittee
25 Feb 2018Trustee Regulation Subcommittee : Co-option of members
The HKTA has recently formed a new Subcommittee - the Trustee Regulation Subcommittee, and is seeking for members to join the Committee.
Despite the introduction of the TCSP licensing regime for AML purposes in 2018, Hong Kong remains a jurisdiction without a comprehensive regulatory framework for the trust industry. While part of the industry is extremely well regulated (e.g. the MPF trustees), there is nothing to prevent any man or woman off the street from acting as a trustee and commencing a fiduciary business.
One of the key objectives of HKTA is to promote the best practice and governance of the industry. To this end, we have created the new Trustee Regulation Subcommittee to proactively study, make recommendations on, and engage in dialogues with the government and relevant bodies to promote the regulatory environment for trustees in Hong Kong.
We wish to reach out beyond the ExCo of the HKTA, and are now co-opting 6 additional subcommittee members. Please contact Jacqueline Shek (Chairman of Trustee Regulation Subcommittee & Chairman of the HKTA) at [email protected] if you are interested to help shape the regulatory environment of our industry and join the Trustee Regulation Subcommittee.