Issues for trustees during financial crisis. 4 December 2020

Host group
Host Left
Hosted by
STEP Singapore
Event Type
Web Event
Date

About this Webinar

Trustees hold assets for the benefit of the beneficiaries.  However, it is common for a Settlor to hold powers of revocation and investment over the Trust assets, such powers may present false understanding of ownership of the Trust assets to the Settlor.  During challenging financial conditions Trustees are required to exercise their fiduciary duty to the beneficiaries whilst acknowledging the Settlor’s investment power over the Trust assets where a request for distributions to cover margin calls, cross pledges and guarantees are requested by the Settlor. 

What are the issues a Trustee should consider? Can a Trustee limit their risk? What do Trustees have in place for such situations?

Some issues to be addressed in this webinar include:

  • Covid-19… and margin calls and cross pledges and guarantees
  • What goes through the trustee’s mind?
  • What can potentially go wrong for the trustee?
  • Thinking out of the box: Loan to the client? Getting indemnity?
  • Sofer v SwissIndependent Trustees – review of exoneration clauses
  • Can the trustee totally carve out his responsibilities under a RPT?
  • What happens when over extension of credits or margins are due to fraud?

Webinar Programme 

Webinar participants will be able to watch and listen to (via computer audio, recommended for security reasons or telephone line) the video presentation and Q&A discussion on their screens, receive a PDF copy of the presentation slides, as well as participate in the Q&A discussion by sending in your questions to the moderator via text using the built-in Q&A function.

12.00 – 12.05pm

Opening Remarks & Introduction
Mr. Derek Too - Director, UBS AG

12.05 – 12.45pm

Issues for Trustees during Financial Crisis
Mr. Marcus Hinkley - Head of Private Client Services Asia, Hawksford

12.45 – 1.00pm

Q&A Session

Cost group
Schedule
12:00 - 13:00
Contact
STEP Singapore
Add to Calendar 2020-12-04 00:00:00 2020-12-04 00:00:00 Issues for trustees during financial crisis. 4 December 2020 About this Webinar Trustees hold assets for the benefit of the beneficiaries.  However, it is common for a Settlor to hold powers of revocation and investment over the Trust assets, such powers may present false understanding of ownership of the Trust assets to the Settlor.  During challenging financial conditions Trustees are required to exercise their fiduciary duty to the beneficiaries whilst acknowledging the Settlor’s investment power over the Trust assets where a request for distributions to cover margin calls, cross pledges and guarantees are requested by the Settlor.  What are the issues a Trustee should consider? Can a Trustee limit their risk? What do Trustees have in place for such situations? Some issues to be addressed in this webinar include: Covid-19… and margin calls and cross pledges and guarantees What goes through the trustee’s mind? What can potentially go wrong for the trustee? Thinking out of the box: Loan to the client? Getting indemnity? Sofer v SwissIndependent Trustees – review of exoneration clauses Can the trustee totally carve out his responsibilities under a RPT? What happens when over extension of credits or margins are due to fraud? Webinar Programme  Webinar participants will be able to watch and listen to (via computer audio, recommended for security reasons or telephone line) the video presentation and Q&A discussion on their screens, receive a PDF copy of the presentation slides, as well as participate in the Q&A discussion by sending in your questions to the moderator via text using the built-in Q&A function. 12.00 – 12.05pm Opening Remarks & Introduction Mr. Derek Too - Director, UBS AG 12.05 – 12.45pm Issues for Trustees during Financial Crisis Mr. Marcus Hinkley - Head of Private Client Services Asia, Hawksford 12.45 – 1.00pm Q&A Session STEP Singapore STEP Singapore Europe/London public