20 July 2022
Trust companies survey 2022: Anti-money laundering regulation
The pace of change in anti-money laundering regulation has been rapid since the 2020 edition of our survey, and shows little sign of slowing down. The EU has introduced a significant AML reform package which is working its way through the legislative process, the UK recently issued responses to...
06 July 2022
Trust Companies Survey 2022: Reputational Risk
This year, respondents said that the fourth greatest challenge to their business was reputational risk for clients in being associated with trust structures and offshore jurisdictions. In this article, we discuss why – six years after the Panama Papers story broke – reputation continues to weigh...
29 June 2022
Trust Companies see cyber security as key business risk
Our survey confirms that trust companies continue to see cyber security as a key business risk. This is in line with companies in other areas: in IBM's 25 th edition of "The CEO Study", drawn from interviews with 3,000 CEOs worldwide, CEOs ranked cyber risk as their greatest organisational...
23 June 2022
Trust Companies Survey 2022: Beneficiary Disputes
Respondents continue to identify Beneficiary Disputes (ie disputes between the trustee and one or more of the beneficiaries) as a significant challenge. However, trustees' primary concerns remain in other areas, with Beneficiary Disputes ranking as the sixth most pressing issue. In this article, we...
16 June 2022
Trust companies survey 2022: The data privacy angle
Whilst data privacy and security risks remain on the risk radar for trust companies, this year's trust companies survey focussed on what were the most challenging privacy risks for companies. We asked the same question when researching the last edition of the survey, when the results showed that...
09 June 2022
Herbert Smith Freehills Trust Companies Survey: Introduction
Between March and May 2022, we conducted the second edition of our 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...
09 June 2020
REGULATORY COMPLIANCE IN FOCUS
The multiplicity of laws to be complied with if trust and company service providers ( TCSPs ) operate in various jurisdictions, and the ever-changing regulatory landscape more generally can make it difficult for TCSPs to navigate and keep on top of their regulatory compliance obligations...
05 May 2020
Beneficiary Disputes in focus
In our recent trust company risk and compliance survey we asked trust companies what are the greatest risk and compliance challenges they face. The respondents identified beneficiary disputes, (i.e. disputes between the trustee and one or more of the beneficiaries) as one of the significant...
17 February 2020
Introducing the Herbert Smith Freehills Trust Companies Survey: Navigating Troubled Waters
READ THE FULL REPORT In January 2020 we completed the research phase of our first 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...
11 August 2022
When notification and disclosure collide
A claim under a Directors and Officers liability policy for investigation, defence and settlement costs has ended with the New South Wales Supreme Court 1 allowing some claims but denying others. The decision is a reminder of the importance of robust internal insurance reporting processes, and of...
08 August 2022
The UPC Rules
On July 2022 the UPC Rules of Procedure (the Rules) were announced as approved with the amendments from the previous (18 th ) draft (from 2017) being published in tracked changes form . One of the most significant changes was to opt-out procedures, as well as changes to restrict access to pleadings...
05 August 2022
Australian regulator consults on new operational risk management prudential standard
The Australian Prudential Regulation Authority ( APRA ) has released its consultation on a new cross-industry prudential standard for operational risk management, CPS 230, which proposes to introduce a range of new requirements on APRA-regulated entities for managing operational risk and enhance...
04 August 2022
Cartel Intel: Interview with Ashley Brickles, Senior Managing Director at FTI Consulting
As part of our quarterly Cartel Intel series, Herbert Smith Freehills' Brussels partner Daniel Vowden sat down with Ashley Brickles, (Senior Managing Director at FTI Consulting) to discuss the latest EMEA cartel developments
04 August 2022
Another one bites the dust – managing risk in scheme transactions in Australia
A series of public M&A transactions in Australia have recently been called off or renegotiated in light of a changing market and worsening economic conditions, highlighting the need for target companies to carefully consider and protect against deal termination risk.
03 August 2022
Tax in M&A in the UK and Europe – What you need to know
The third edition of our comprehensive guide to tax in European transactions breaks down the key tactical issues for deal professionals and boards. From transfer taxes, to debt financing, to post-deal disposal issues – our experts chart the EMEA landscape