Technical Committee’s Update 2013 – 03

Luxembourg Law of 6 April 2013 on dematerialized securities (‘titres dematerialisés’) published on Mémorial A of 15 April 2013.   International European Union 25 April 2013 The ECJ decision in Jyske Bank Gibraltar Limited v Administración del Estado (Case C-212/11) established that EU law does not prevent Spanish legislation from requiring banks that operate in…

Image Rights Licensing Presented at STEP BeNeLux

Yesterday evening, the BeNeLux Branch of the Society of Trust & Estate Practitioners (STEP) organised an Evening Seminar on the subject of Image Rights Licensing at the Cercle Munster in Luxembourg-Grund. The evening allowed attendees to learn how Guernsey’s new image rights legislation could assist their clients to protect their interests and structure their affairs…

Technical Committee’s Update 2013 – 02

Luxembourg 10 April 2013: Formal announcement that Luxembourg shall apply the Directive 2003/48/EC on taxation of savings income in the form of interest payments by way of the automatic exchange of information (like 25 out of the 27 EU member states) as of 1st January 2015. Law of 29 March 2013 on administrative cooperation on…

OBITUARY: George Tasker 1937 – 2013

OBITUARY George Tasker –1937 to 2013 It is with great sadness that we announce that STEP Founder George Tasker passed away on 12 April, aged 76, following a long struggle with cancer. George conceived and founded STEP in 1991 with the express aim of uniting all of the practitioners in the trust and estate field and…

Longer Term Confidence in trust and estate industry at three year high

The Society of Trust and Estate Practitioners’ (STEP) latest global quarterly confidence survey shows a dip in the immediate outlook but registers a three year high in the long-term outlook for the industry. In the first quarter of 2013 the STEP Near Term Confidence Index, which looks at the outlook over the next three months,…

Business owners warn of lack of soft-skills among family business advisors

Research commissioned by the Society of Trust and Estate Practitioners (STEP) and the Institute for Family Business with UCG (IFB) has revealed that family business owners do not feel that traditional technical qualifications alone are sufficient for a competent family business advisor, citing the ability to effectively deal with various personalities in a complex family…

STEP launches 2013 STEP Private Client Awards

Entries are now open for the eighth annual STEP Private Client Awards. The STEP Private Client Awards is the pre-eminent international competition highlighting excellence across the private wealth sector.  The Awards include categories for private client lawyers, accountants, private bankers, financial advisors and trust managers. They offer an unrivalled opportunity for these professionals to demonstrate…

Family Court approves Practice Direction for STEP Standard Provisions

The Society of Trust and Estate Practitioners (STEP) is pleased to announce that a Practice Direction has now been issued by the Senior District Judge of the Family Division for the STEP Standard Provisions second edition. The STEP Standard Provisions provide an easy way for will-drafting professionals in England and Wales to incorporate provisions that…

STEP Benelux Hears BIL Economic Oulook: US Dollar Investment

The newly-formed STEP Benelux asbl (Society of Trust and Estate Practitioners) met earlier today at the premises of BIL with its CIO, Yves Kuhn, making a presentation on the topic of “Financial Strategy – the Triumph of the Crisis?” This year, the US is coming out of recession while the Eurozone economy has re-entered recession…

Technical Committee’s Update 2013 – 01

Luxembourg Law of 21 December 2012 on Family Offices (published in the Mémorial on 28 December 2012) Budget Law 2013 bringing about increases in personal as well as corporate income tax, notably minimum tax (published in the Mémorial on 28 December 2012 effective 1st January 2013) CSSF Règlement 12-02 of 14 December 2012 introducing new…