Friday, April 27, 2018
You are here: Isle of Man > Isle of Man News
Isle of Man News
General News
Revised guidance note on expected practice for Trust Service Providers 1 March 2013

The Commission has issued a draft document entitled - Revised guidance note on expected practice for Trust Service Providers.

This will replace the Commission’s current guidance in this area which was issued in October 2010. The October 2010 document can be viewed here.

The draft document will be discussed with representatives from the Isle of Man Branch of STEP and the ACSP at a meeting at the end of March.

The Commission continues to approach this matter from the perspective that we do not “second guess” trustees in terms of the decisions they make, but we do have a role in regard to the way in which trustees administer the trusts and record trustees’ decisions. The Board of the Commission has resolved that a paper needs to be issued.

If you have any comments on the document, please provide these, preferably via either STEP or the ACSP, by Friday 15 March 2013.

The draft document can be viewed here.

More stories >>>  


Other Guides by Maxima Systems Ltd: Disney World