Agenda

Global regulations, maturing wealth and mobility in Asia:

A headache or opportunity?

Friday 20 September 2019 | The St. Regis | Hong Kong

Friday 20th September, 2019

8:30 AM - 9:00 AM | Registration and coffee



9:00 AM - 9:15 AM | Co-chair opening remarks


Thelma Kwan - Barrister at law
Nicholas Jacob - Forsters

9:15 AM - 9:50 AM | Keynote: Hong Kong- A planning mecca?


Michael Olesnicky - Baker McKenzie

9:50 AM - 10:30 AM | The impact of regulation and transparency on the globalisation and consequent mobility of wealth in Asia

Globalisation remains a juggernaut difficult to stop or reverse; but how is increasing regulation affecting it?  In 2019, Asian families are becoming more and more international, with businesses and marriages crossing borders. Globalisation of clients therefore means globalisation of wealth. With increased regulation and transparency, planning becomes absolutely crucial. This panel examines the opportunities and pitfalls for advisors in the Asia region.

Bijal Ajinkya - Khaitan & Co
Clifford NG - Zhong Lun Law Firm
Erik Wallace - Stephenson Harwood

10:30 AM - 11:00 AM | Networking break



11:00 AM - 12:00 PM | Global Elite Interactive Study Groups

An opportunity to share knowledge, understand topics in greater depth and hear about the challenges facing your colleagues: Please choose one study group which most appeals to you.


A. The issues that trustees miss on the termination of trusts: A vigilante wind up

Deep dive into the correct methods behind bringing a trust to an end, and all of the issues relevant to a termination.
 

B. The impact of matrimonial property regimes on planning, succession and transition: Watch out, roadblock ahead

 

C. Private regulated funds: Use as an ownership structure

Exploring the use of fund planning for clients, including how jurisdictions such as Asia, the Middle East and LatAm deal with it and the strategies employed.
 

D. Economic substance: What is it? What is the impact of the rules?

  • Do the obligations differ and how do you interpret the requirements? What will the information gathered be used for?
  • Identifying potential exposure and the practical steps that can be taken next to minimise risks

Marcus Dearle - Bryan Cave Leighton Paisner
Katie Graves - Withersworldwide
Nicola Saccardo - Maisto e Associati
Carlos De Serpa Pimentel - Appleby
Antonio Chen Han - Han Kun Law
Winnie Chow - Chow Ruskin Brown
Mark Lea - Lea & White

12:00 PM - 12:40 PM | Testamentary capacity: Recent updates and practical issues

Since the time of Banks v Goodfellow (1870) LR 5 QB, challenges concerning testamentary capacity have been a common issue arising before the courts. The Court of Final Appeal has recently provided guidance on testamentary capacity in the case concerning the estate of Au Kong Tim in FAMV No. 47 of 2018, which affirmed the views of the Court of Appeal in CACV No. 177 of 2017.
This seminar will cover the mental capacity and its practical issues when practitioners are drafting and attesting Wills for the elderly and vulnerable; and issues regarding instruction of medical practitioners in assessing testamentary capacity will also be discussed.


Dr. Gabriel Hung - The Central Practice
Alfred Ip - Hugill & Ip

12:40 PM - 1:45 PM | Lunch



1:45 PM - 2:25 PM | A brave new world: Big Brother is doing much more than watching

The impact of CRS and FACTA on structuring, including changing approaches across the globe:

  • What impact has CRS an FACTA and other regulatory changes had on planning?
  • Have the impact of regulations changed it or have you adopted a new philosophy on planning because of increased regulations?
     


2:25 PM - 3:00 PM | Beneficial ownership and trust registration: What do we envisage for the future? Will more jurisdictions adopt it? How do we seek to control it?

Questions remain as to whether the information on the registers will become publicly available and, if so, on what conditions and to what extent:

  • Who are the beneficial owners of a company when a trustee of a trust directly or indirectly owns the company
  • Differences between the approaches of each of the UK, Overseas Territories and Crown Dependencies
  • How is it affecting planning?

Bill Ahern - Ahern Lawyers
Ryan Myint - Penningtons Manches LLP
Keith Robinson - Carey Olsen Bermuda

3:00 PM - 3:30 PM | Networking break



3:30 PM - 4:10 PM | Legal professional privilege: Under attack?

  • The recent impact of challenges to legal professional privilege
  • Multi-jurisdictional analysis of losing legal privilege across the US, UK offshore and civil jurisdictions
  • Situations in which privilege can be eroded

Joshua Rubenstein - Katten Muchin Rosenman LLP
Tina Wüstemann - Bär & Karrer AG
Richard Wilson QC - Serle Court

4:10 PM - 4:50 PM | My case is bigger than yours: A global litigation snapshot

In this lively session the panel will examine prevalent cases which have recently erupted from around the world, considering the following impact on your practice and clients in Asia:

  • Prevention planning
  • Identifying the risk factors
  • Reputational issues to consider

Vikna Rajah - Rajah & Tann
Shimon Takagi - Takagi Law Office
Shân Warnock-Smith QC - 5 Stone Buildings & ICT Chambers

4:50 PM - 5:00 PM | Co-chair closing comments


Thelma Kwan - Barrister at law
Nicholas Jacob - Forsters