ABOUT STEP– building your career

1. STEP Bermuda ConferenceA presentation byGeorge Lyall TEPBoard Member of STEPThursday 28th February 2013

2. ABOUT STEP– building your career • 22 years ago, no network • Today – STEP members have a network of over 18,300 members based in 84 countries • STEP members in 103 branches and chapters which span across 52 countries • An international network to exchange knowledge and education – building to lifetime education • A cross professional network – for instance, the emergence of special interest groups • Influence with regulators and government protecting jobs • Clients and other advisors seek high professional standards –TEP- the only worldwide recognised qualification

3. MEMBERSHIP BY REGION

4. Demographics in the Caribbean

5. Annual Satisfaction Survey 2012 Results – what do members think? • 100% of all STEP members in Latin America and the Caribbean would recommend STEP to a colleague • 96% of members in the Caribbean and Latin America rated the value of their membership positively • 85% of members worldwide believe that membership of STEP is considered to be important within the industry • 14% response rate; well under 1% unhappy, which is the most important figure– but we can always be much better • The member services felt to be most valuable were: Membership E-Newsletter, STEP Journal & TQR, News Digest Emails, STEP Directory and Yearbook, STEP Certificates & Diplomas

6. Persuading governments –FATF Work - 2012/13 • FATF – Revised FATF 40 Recommendations • Secured major changes to initial drafts: • Resisted pressure for mandatory trust registers. • Secured recognition for role of common law obligations on trustees (cf work in 2011 with OECD Global Forum) • FATF Guidance on Risk Based Approach • Leading private sector working party to review guidance for trustees. • FATF Review of beneficial ownership • Unclear where this is going as yet.

7. EU Work – 2012/13 • EU – “Action Plan to strengthen the fight against tax fraud and tax evasion” • Proposal for EU-wide GAAR • Proposal for action against ‘tax havens’ including black list • Next phase is debate in EU Parliament • EU – Reform of EU Savings Tax Directive (& extension to third parties) • Needs to be seen in conjunction with likely growth of FATCA IGAs • Review of 4th AML Directive • Pressure for mandatory trust registers resisted so far.

8. FATCA work • FATCA • Liaison with ACTEC to seek to influence US FATCA regulations • UK Model 1 IGA • Viewed as likely international standard model for most of the 50 jurisdictions looking to conclude IGAs with US. • Detailed discussions of place of trusts in IGA • Briefings provided on IGAs (Model 1 & Model 2) & UK policy objectives to 3rd party jurisdictions considering entering IGA

9. STEP JOURNAL www.stepjournal.org

10. STEP INTERNATIONAL & UK EMAIL NEWS DIGEST Twice weekly e-news sent to all STEP members

11. STEP DIRECTORY & YEARBOOK, ONLINE MEMBER SEARCH

12. PROFESSIONAL DEVELOPMENT– New Courses • STEP Foundation Certificate & Diploma in International Trust Management • STEP Advanced Certificate in Trust Disputes • STEP Advanced Certificate in Family Business Advising • STEP Advanced Certificate in UK Tax for International Clients • STEP Advanced Certificate in International Succession and Probate www.step.org/pd

13. At the start of the 5 year planning process International Diplomas Local Diplomas Company Law Trust Creation Republic of Ireland Investment Appraisal England & Wales Trust Administration CERTIFICATES 30 credits @ Level 4 International Trust Management Trust & Estate Planning (RoI) Trusts & Estates (E&W)

14. The Matrix International Diploma Advanced Certificates supporting Specialist Diploma Route Two Core Papers (C) required plus two further papers depending on specialism Local Diplomas Company Law Trust Administration Estate Administration International Tax Mediation Canada Scotland (C) (C) (In development) ADVANCED CERTIFICATES 30 credits @ Level 6 Trust Creation Will Preparation (England & Wales) Family Business Advising International Succession and Probate UK Tax for International Clients Republic of Ireland Israel Vulnerable Clients 1 Investment Appraisal England & Wales Trusts & Estates Accounts Northern Ireland Trust Disputes Family Office (In development) (In development) Trust Administration Trusts & Estates Tax Vulnerable Clients 2 Philanthropy Investments AN Other AN Other (In development) (In development) CERTIFICATES 30 credits @ Level 4 International Trust Management Trusts for Civil Law Practitioners Trust & Estate Planning (Republic of Ireland) Trusts & Estates (England & Wales) Financial Services (Trusts & Estate Planning) Financial Services - Singapore (Trusts & Estate Planning) AWARDS 3-5 credits @ Level 4 International Issues Regulatory Environments Trusts Power of Attorney Estate Admin Asset Management Tax Anti Money Laundering Wills Accounts (C) (C) (C)

15. STEP WEBSITE www.step.org Over 40,000 visits per month.Re-launched this April!

16. STEP WEBSITE www.step.org

17. STEP WEBSITE www.step.org

18. STEP Conferences & Events Over 500 events per year • STEP Bermuda 2013 13th Annual Conference, Bermuda 28 February 2013 • STEP International Conference in Dubai, 05-06 May 2013 • Caribbean Conference, Cayman Islands, 14-16 May 2013 • STEP Pacific Rim Conference, Los Angeles, USA, 03 May 2103 • STEP Caribbean Conference, Nevis, 06 May 2013 • STEP Asia Conference, Singapore, 28 September 2013

19. STEP Confidence Index

20. THANK YOU! I look forward to meeting you soon somewhere around the STEP World! George Lyall Board Director of STEP February 2013