STEP Certificate and Diploma in International Trust Management

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1 STEP Certificate and Diploma in International Trust Management Developing your understanding of the law and practice of the international trust industry from a global and local perspective STEP Diploma Series for the Trusted Advisor A qualification for practitioners involved in international trust management

2 The Qualification The STEP Certificate and Diploma in International Trust Management is a Society of Trust and Estate Practitioners and CLTI qualification. It is awarded in association with the International Trust Companies Association (ITCA) and Manchester Business School (MBS), a school of the University of Manchester. The STEP Certificate provides a solid grounding in international trust practice from a global and local perspective. The STEP Diploma is recognised worldwide as the benchmark qualification for those working in the international trusts arena. The Diploma explores common international principles and practices in detail and relates them to your local jurisdiction and other leading trust centres. It comprises the following four papers: Trust Creation: Law and Practice Company Law and Practice Trust Administration and Accounts Trustee Investment and Financial Appraisal The STEP qualification really motivates the individuals who study for it. You can see them mature as employees, becoming more confident and knowledgeable, which in turn benefits the clients. What benefits the clients will ultimately benefit the company as a whole. Pearline McIntosh, ACIB TEP, Vice President - Trust Services, Butterfield Trust (Bermuda) Limited.

3 Learning Outcomes On successful completion of the Diploma, you will be able to: Advise on the classification, types and uses of trusts, the factors affecting their validity and the circumstances under which they can and cannot be altered. Explain the roles, responsibilities, limitations and liabilities of trustees, protectors and enforcers under local and international law. Understand money, bond and equity markets, financial appraisal and ratio analysis and options, derivatives and futures markets. Explain the duties and responsibilities of trustees in relation to investment matters under local and international legislation. Advise on the use of trusts in modern tax planning. Advise on the issues surrounding modern reserved powers legislation. Identify and advise on the factors affecting a client s residence and domicile and outline the impact of these on a client s estate planning needs. Analyse the conflict of laws rules (doctrine of renvoi) applicable to multi-jurisdictional trusts and advise clients when these rules may apply. Explain the regulatory frameworks that have developed globally to counteract fraud and money laundering. Carry out the know your client checks that are required for compliance with anti-money laundering regulations in your local jurisdiction. Construct and interpret a set of trust accounts. Understand the day-to-day affairs of an offshore company including the processes of incorporation and dissolution. The knowledge gained from the STEP Diploma programme gave me the confidence and ability to deal with many trust and company matters. Juliana Glinton, CPA, TEP, Financial Controller/Trust Accountant, Julius Baer Trust Company (0) cltinternational@centlaw.com

4 Key Benefits Increases your knowledge of all aspects of the international trust profession including the vehicles, legal structures, principles and practices underpinning it Provides an overview of the legislation, principles and practice in your local jurisdiction Enhances your career with a qualification that is recognised by those working in the trust industry Provides a route to STEP membership and TEP status Business Outcomes Adds value to your business and professional service Enhances your ability to give holistic advice to clients as a trusted advisor Distinguishes you and your firm from the competition Course Structure and Assessment The programme combines both self-study and local face-to-face tuition, with each paper taking an average of four months to complete. At the end of the distance learning period, delegates attend four days of faceto-face tuition. This culminates in the final examination on day five. The Certificate and each of the Diploma papers are assessed by way of a three-hour, closed-book examination. The examination comprises a mix of multiple choice questions and essay/scenario-based questions. I decided to take the STEP Diploma exams, which helped me gain promotion to Manager. I do miss the face-to-face courses before the exams, as the tutors were very knowledgeable, approachable and fun and it is good to interact with your peers from other companies. Jonathan Marquis TEP, Assistant Vice President, Barclays Wealth Trustees (Guernsey) Ltd.

5 About Us STEP STEP is the leading representative and training body within the sphere of international trust management and wealth structuring. STEP provides members and those affiliated to STEP with a local, national and international learning and business network focusing on the responsible stewardship of assets today and across the generations. CLT International CLT International is the exclusive course provider of the STEP Certificate and Diploma in International Trust Management and regional STEP Diploma programmes in England & Wales, Northern Ireland and Scotland, as well as the STEP Certificate Series, which includes the Advanced Certificate in Trust Disputes, the Advanced Certificate in Family Business Advising and the Advanced Certificate in International Succession and Probate. CLT International has a wealth of experience in providing high quality, certificated, professional training programmes to delegates around the world. ITCA The ITCA was formed by the major institutions in the international trusts arena with the aim of pooling expertise on matters affecting the industry globally. The ITCA looks to maintain and enhance standards of professionalism within the industry, to contribute to the education of trust practitioners and to influence policy changes by using its collective voice. MBS MBS is the largest campus-based business and management school in the UK. MBS delivers world-class management education globally and is a leader in cutting edge business thinking. The STEP Certificate and Diploma are awarded in association with MBS and are subject to the School s rigorous quality assurance procedures.

6 Entry Requirements The Certificate is an open-entry programme. However, applicants should have a good standard of literacy and be aware that the programme is delivered in English. Admission to the Diploma is normally dependant on having completed the Certificate and having either a suitable prior Certificate-level qualification or one year s entry level experience. For details see Exemption is possible from a maximum of two Diploma papers, depending upon prior qualifications. Cost and How to Apply You may register for the course at any time throughout the year and work at your own pace through the materials (provided that you meet the enrolment closing date for each paper.) To find details of upcoming face-to-face courses and exams in your jurisdiction, visit The fee for the Certificate is 1,525 (plus local taxes) and 1,575 (plus local taxes) for each Diploma paper. This fee includes: Course manual Self-assessment material (including online resources) Four days of face-to-face tuition Examination entry STEP student membership subscription On completion of the Certificate, you can choose to become an Affiliate of STEP or go on to study the Diploma, on completion of which you can apply for full membership of STEP. Technician membership is available to those who have completed two Diploma papers. STEP members and Affiliates receive an array of benefits, including subscription to the STEP Journal and access to a global network in excess of 20,000 professionals specialising in trusts and/or estates, executorships, administrations and related taxes. Further benefits include networking opportunities at local, national and international STEP events and access to online technical resources. Full members of STEP also benefit from use of the TEP designation and STEP logo; and listing on the Search for a STEP member area of the STEP website. Find out how STEP membership will benefit you at For further details of the STEP Certificate and Diploma, visit or Please note: Every effort has been taken to ensure that this publication was accurate at the time of going to press but STEP and CLT International are not liable for any errors or omissions in this publication. STEP and CLT International reserve the right to vary or cancel a course or examination where the occasion necessitates. STEP and CLT International accept no liability if, for whatever reason, the course or examination does not take place. CLT International Wrens Court Victoria Road Sutton Coldfield Birmingham B72 1SX United Kingdom CLTInternational@centlaw.com Tel: +44 (0) STBIN1