Dharshi Wijetunga

Switzerland has long been known for its international wealth management sector. It’s reputation as a global private wealth hub stems from a combination of factors including its political stability, financial services infrastructure and expertise in international markets. However, its new regulatory regime for asset managers and professional trustees now means that it is fast becoming an attractive location to set up and maintain a private trust company.

Chapter 2 – Beneficiary Exonerations and Consent Introduction Professional trustees are faced with a myriad of decisions on a daily basis – regulatory, compliance and financial accounting requirements impose a number of obligations on trustees with serious fines and penalties if they get it wrong. On top of this, trustees may be faced with unusual requests in relation to the underlying assets of the trust which could pose a degree of risk.

Chapter 2 – Beneficiary Exonerations and Consent Introduction Professional trustees are faced with a myriad of decisions on a daily basis – regulatory, compliance and financial accounting requirements impose a number of obligations on trustees with serious fines and penalties if they get it wrong. On top of this, trustees may be faced with unusual requests in relation to the underlying assets of the trust which could pose a degree of risk.