Between November 2019 and January 2020, we conducted a survey of trust companies. We asked trust companies of different sizes, from a variety of onshore and offshore jurisdictions, with different ownership structures, questions about the most significant risk and compliance issues they face. The survey comprised 18 questions, with a randomised order of possible answers wherever this was feasible to increase the integrity of the responses.
We have collated our analyses of the results of the survey into a printable PDF report. The report covers various threats to trust companies, which our respondents deemed to be the most pertinent to their businesses. These include:
- Anti-Money Laundering (AML)
- Beneficiary disputes
- Data protection
- Regulatory compliance
- Reputational risks
- Tax compliance
- Wider threats to trust companies
The contents of this publication are for reference purposes only and may not be current as at the date of accessing this publication. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication.
© Herbert Smith Freehills 2020