Programme

Sunday 01 September 2013

15.00 - 17.00 Registration at the Symposium office, Jesus College
  Located in the Third Quad, Seminar Room A, next to Staircase 18
   
17.15 - 18.15 Symposium and Case Study Introduction
  Andrew De La Rosa, ICT Chambers, Cayman and London
An introduction to, and explanation of, the course and Case Studies. To be held in the Habakkuk Room-Third Quad
   
18.15 Welcome Reception to be held on the Lawn of the Inner Quadrangle, followed by a Welcome Dinner in the Great Hall

Monday 02 September 2013

Chairperson: Nigel Goodeve-Docker

Which Structures are Driving Forward Global Wealth Structuring?

08.15 - 09.00 Continental or English Breakfast served in the Great Hall
09.00 - 10.00 Modern Uses for Trusts
  Nigel Goodeve-Docker, Down End Office, UK
Trusts are recognised as one of the most flexible and versatile vehicles for holding and managing assets. However, the nature of a trust is frequently misunderstood to be a means of hiding assets.  Nigel explores the evolution of the trust and its versatile role as a legitimate planning vehicle.
10.00 - 11.00 Shielding the Trust from Attack and What Happens When Disputes Arise?
  Andrew De La Rosa, ICT Chambers, Cayman and London Trusts often come under attack, not least by forced heirs or those claiming against the trust assets by reason of a personal relationship with the settlor.  Andrew sheds some light on how a trust can be shielded from attack, focusing on firewall legislation, pioneered in Cayman and subsequently introduced in other jurisdictions.  He confronts forced heirship provisions and community property legislation, mainly in the Far East and Eastern Europe.  Furthermore, he offers some thoughts on what happens when disputes arise and how to plan for this eventuality.
11.00 - 11.30 Morning Coffee will be served in the Common Room
11.30 - 12.15 Founder’s Powers, Beneficial Interests and ‘Foundation Governance’
  Paolo Panico, Private Trustees SA, Luxembourg and Switzerland
Paolo examines the founder’s role in light of the weaker position granted to beneficiaries under private foundation legislation in comparison to trust beneficiaries and observes how founders enjoy higher degrees of freedom than trust settlors.  He questions whether a heavy handed founder may trigger a risk for private foundations to be set aside or disregarded, at least for tax purposes.
12.15 - 13.00 How Safe is Your Company? Veil-Piercing and Other Lines of Attack
  Andrew De La Rosa, ICT Chambers, Cayman and London Andrew observes recent cases including Antonio Gramsci Shipping Corporation & Ors -v- Oleg Stepanovs, VTB Capital plc v Nutritek International Corp & Ors and Petrodel Resources Limited & Ors -v- Prest & Ors which have all turned the attention of the Supreme Court to the question of piercing the corporate veil.  In light of these developments, he asks the question – how safe is your company?  
13.00 - 14.30 Luncheon will be served in the Great Hall
14.30 - 15.30 Trust and Company Structures
  Suzanne Reisman, The Law Offices of Suzanne Reisman, London, UK
Suzanne shares her vast experience in international trust, tax and estate planning and examines trust and company structures.  She explains the pitfalls which can be encountered and observes some fully compliant offshore structures and strategies that remain.
15.30 - 16.15 Foundations, Companies Limited By Guarantee and Hybrid Companies
  James Quarmby, Thomas Eggar LLP, UK The private interest foundation has experienced an upsurge, as wealth grows in regions such as Latin America and Asia where clients are often unfamiliar with the trust concept.  The flexibility and versatility of companies limited by guarantee and hybrid companies have led to their increasing use internationally beyond the 'not for profit' sector.  James dissects these flexible vehicles and explores the creative ways in which they can facilitate wealth planning.
16.15 - 16.45 Afternoon Tea will be served in the Common Room
16.45 - 17.30 Asset Protection and Innovation - Sophisticated Structures and Strategies in the Current Regulatory Climate
  Joseph A. Field, Withers LLP, US
  Asset protection is increasingly a concern in matrimonial finance as well as more generally for those entrepreneurs who face significant litigation or other liability risks.  In the new international climate of regulation and information exchange, what options remain for protecting a client’s assets?  Does the asset protection trust still serve a legitimate purpose?  What innovative structures are emerging and where are we going in terms of new ideas and markets? How can asset protection techniques of the past be applied to modern day structuring?
19.15 Dinner will be served in the Great Hall

Tuesday 03 September 2013

Chairperson: Nicholas Jacob

International Taxation and the Global Markets for Offshore Services

08.15 - 09.00 Continental or English Breakfast served in the Great Hall
09:00 - 09:45 Where stands the offshore/onshore struggle today?
  Andrew De La Rosa, ICT Chambers, Cayman and London
Offshore financial centres and developing countries have been pressurised into adopting a stringent set of rules, which they have done mostly with admirable speed and efficiency, while the developed economies that set these standards have been less conscientious in applying them. Where lies the offshore/onshore struggle today and what can offshore financial centres say in their defence, how can they deflect the stereotyping that persists?
09.45 - 10.45 Current Tax Issues – Europe
  John Graham, Graham Smith & Partners, The Netherlands
John considers the current state of taxation in Europe and observes tax competition in the continent. He contemplates the European Commission’s proposal for Europe's financial transactions tax, analyses the UK’s general anti-avoidance rules and observes the European approach to anti-avoidance.
10.45 - 11.15 Morning Coffee will be served in the Common Room
11.15 - 12.00 Voluntary Disclosures and the United States
  Suzanne Reisman, The Law Offices of Suzanne Reisman, London, UK
The IRS is aggressively targeting US taxpayers with unreported offshore assets and income. Suzanne shares her experiences with the various US voluntary compliance initiatives and explains how these initiatives impact non-US advisors and their clients.
12:00 - 12:45 Current tax issues – Latin Americas
  Derek R Sambrook, Trust Services SA, Panama
  As growth continues throughout Latin America and opportunities emerge, it is important to understand the complexities of the somewhat antiquated tax systems in place.  What are the latest developments?
12.45 - 14.30 Luncheon will be served in the Great Hall
14.30 - 15.15 Current tax issues - Asia
  Terry Dwyer, Dwyer Lawyers, Australia
  Investment continues to flood into Asia as its economies flourish and it is important to understand the systems of taxation in existence, the protocols which must be followed together with the level of transparency in the region.  A detailed overview of the system of taxation in Asia will be provided with a close look at the tax treaty networks in existence and compliance issues one must be aware of.
15.15 - 16.00 The legitimacy of tax planning
  Nicholas Jacob, Lawrence Graham LLP, UK
As governments continue to blur the distinction between tax avoidance and tax evasion, and even between tax planning and money laundering, is the perceived right of every citizen legitimately to minimise the amount of tax he or she pays being eroded?  Is there any clear guidance on what is acceptable tax planning in today’s global environment?
16.00 - 16.30 Afternoon Tea will be served in the Common Room
16.30 - 17.15 Panel Discussion: The Future of Tax-Driven Structuring in the New Era of Transparency
  Led by Nicholas Jacob, Lawrence Graham LLP, UK with Suzanne Reisman, The Law Offices of Suzanne Reisman, London, UK, John Graham, Graham Smith & Partners, The Netherlands, Andrew De La Rosa, ICT Chambers, London and Cayman and Paolo Panico, Private Trustees SA, Luxembourg and Switzerland
17.15 Recommended Case Study group time
19.15 Dinner will be served in the Great Hall

Wednesday 04 September 2013

Chairperson: James Quarmby

Investment and Wealth Planning Tools to Drive Forward International Wealth Planning.

08.15 - 09.00 Continental or English Breakfast served in the Great Hall
09.00 - 09.45 An overview and brief introduction. What vehicles drive forward international wealth planning?
  Peter J. O’Dwyer, Hainault Capital Ltd., Ireland and Richard Cassell, Withers LLP, UK
Funds, insurance and charities are all tools that can be used in ways well beyond the traditional expectation to assist individuals to manage, grow and protect their wealth – an introduction to thinking laterally.
09.45 - 10.30 Designing a cross-border investment structure to meet client needs
  James Quarmby, Thomas Eggar, UK
Designing a cross-border investment structure is a precise balancing act which requires knowledge of the relevant legislation in diverse jurisdictions, extra-territorial regulation and a great understanding of the clients needs over a long period of time.  James illustrates the way in which this intricate process can be approached.
10.30 - 11.00 Morning Coffee will be served in the Common Room
11.00 - 12.00 Investment funds and their uses
  Peter J. O’Dwyer, Hainault Capital Ltd., Ireland
Investment funds represent a multi-trillion dollar industry and fund structures are set up in many diverse and interesting ways using a variety of vehicles and jurisdictions.  Peter navigates the complexities of the funds industry and analyses the leading jurisdictions and the types of structure available.
12.00 - 13.00 Insurance and Solvency II
  William Dalziel, London & Capital, UK
Most EU, if not global insurance companies have Solvency II on their radar. The world is watching to see how the EU transforms its insurance industry and implements a risk-based approach to protect policyholders. As the insurance industry is diligently preparing for Solvency II, this presentation focuses on the unforeseen challenges and opportunities it presents.
13.00 - 14.30 Luncheon will be served in the Great Hall
14.30 - 15.30 Specific uses of charities in the onshore world
  Richard Cassell, Withers LLP, UK and Clive Cutbill, Withers LLP, UK
People give to charity for a variety of reasons and it is prudent to think about philanthropy as a component part of a clients’ overall wealth strategy.  Richard and Clive question what structures maximise tax efficient charitable giving and observe the regulatory and tax considerations? They offer their thoughts on territoriality and how this can impact the choice of structure.
15.30 - 16.00 Afternoon Tea will be served in the Common Room
16.00 - 17.00 Investment Funds and Regulation
  Peter J. O’Dwyer, Hainault Capital Ltd., Ireland
The global funds industry is undergoing profound change due, in large part to the cross-border impact of regulations. European Directives, far-reaching jurisdictional legislation and recent cases have influenced the future of the industry and now require serious analysis. Peter provides an overview of where we are now and the significant developments not to be ignored.
17.00 Recommended Case Study group time
19.15 Dinner will be served in the Great Hall

Thursday 05 September 2013

Chairperson: Richard Cassell

International Regulation, Extra-territorial Pressures and Emerging Markets and Opportunities.

08.15 - 09.00 Continental or English Breakfast served in the Great Hall
09.00 - 10.00 Regulation and The Foreign Account Tax Compliance Act
  Kristin Konschnik, Withers LLP, UK
The Foreign Account Tax Compliance Act represents a complex and costly compliance task being forced upon financial services firms globally. Implementation will be staggered over a number of years. Preparations for FATCA are complex.  What can be done to ease the path and where do we stand with intergovernmental agreements?
10.00 - 10.45 Panel Discussion: Extra-territorial Regulation and Globalisation – What Does It All Mean?
  Led by Richard Cassell, Withers LLP, UK with Kristin Konschnik, Withers LLP, UK Andrew De La Rosa, ICT Chambers, Cayman and London and Terry Dwyer, Dwyer Lawyers, Australia
10.45 - 11.15 Morning Coffee will be served in the Common Room
11.15 - 12.00 Caribbean financial centres, international standards – what’s next?
  Robert Mathavious, FSC, British Virgin Islands
  The bar has been raised in terms of compliance with international standards of transparency and information exchange.  How can balance between compliance and competitiveness be achieved and how can Caribbean financial centres can maintain their competitive edge?
12.00 - 12.45 Opportunities in Asia
  Terry Dwyer, Dwyer Lawyers, Australia
  Asia is the fastest growing region in the world, in which wealth is expected to multiply at double-digit rate to USD40.1 trillion by 2016.  Hardly affected by the global downturn, the region entered 2013 in comparatively good shape; what are the opportunities in this dynamic region?
12.45 - 14.15 Luncheon will be served in the Great Hall
14.15 - 15.00 Panel Discussion: A look at the road map for established and emerging financial centres
  Led by Andrew De La Rosa, ICT Chambers, Cayman and London
  We are still in the throes of epic financial and economic change on a global scale.  Practical approaches can be adopted to embrace this period of transition.  What measures can be implemented by service providers to secure their future role in the global wealth management arena?
15:00 - 15:45 The Latin American Client
   Derek R Sambrook, Trust Services, SA, Panama
  What are the specific cultural considerations, processes and etiquette one should be aware of when developing a sophisticated wealth management strategy for Latin American high-net-worth individuals and family clients, when each has differing goals, concerns and tolerance for risk?  What are the challenges to building long-term client relationships in Latin America?
15.45 - 16.15 Afternoon Tea will be served in the Common Room
16.15 - 17.00 Emerging Opportunities in Eastern Europe
  Paolo Panico, Private Trustees SA, Luxembourg and Switzerland
  Investors focusing their attentions on emerging markets often look towards the faster developing regions of Asia and Latin America.  Eastern Europe is often a region which is ignored, despite presenting some of the greatest investment opportunities of today.  What are the growth areas in this relatively undiscovered region?
17.00 - 17.45 Panel Discussion: Regulation and Compliance – Where do the Opportunities Lie?
  Led by Andrew De La Rosa ICT Chambers, Cayman and London with  Derek R Sambrook, Trust Services, SA, PanamaRichard Cassell, Withers LLP, UK and Terry Dwyer, Dwyer Lawyers, Australia
17.45 Recommended Case Study group time
19.15 Dinner will be served in the Great Hall

Friday 06 September 2013

Chairperson: Andrew De La Rosa

The Great Policy Issues and Where Do We Go From Here?

08.15 - 09.00 Continental or English Breakfast served in the Great Hall
09.00 - 10.00 Regulation and the offshore world - essential or misguided?
  Richard Hay, Stikeman Elliott, LLP, UK
Like it or not, IFCs are very high profile in the global conversation on regulation of financial services and increased extra-territorial measures have been implemented.  Richard questions whether more regulation is the answer and asserts that there are many successful IFCs which are well governed, and highly regulated and play a key role in growing the trade, economies and onshore jobs needed to restore global economic health.
10.00 - 11.00  The Emerging Market of The Middle East and The Middle Eastern Client
  Andrew De La Rosa, ICT Chambers, Cayman and London and Joseph Morris, Morris & De La Rosa, US
How has the ‘Arab Spring’ affected international financial centres – both established and emerging – that have catered for wealthy Middle Eastern clients and for the wider Muslim community? Andrew and Joseph observe the impact of Islamic finance on the wider global market?
11.00 - 11.30 Morning Coffee will be served in the Common Room
11.30 - 12.30 Double Tax Agreements and Tax Information Exchange Agreements
  Richard Hay, Stikeman Elliott, LLP, UK
Whilst Tax Information Exchange Agreements (TIEAs) provide for only information sharing, Double Taxation Agreements enable a plethora of benefits. Why do financial centres engage in TIEAs which are often of unilateral benefit in practice and how can a jurisdiction successfully build a comprehensive tax treaty network, and what are the benefits of doing so?
12.30 - 14.00 Luncheon will be served in the Great Hall
14:00 - 15:00 Case Study preparation time
  Afternoon Tea will be served in the Common Room
15:00 - 17:00 Case Study presentations
  Case Study evaluation, end of course comments and closing speech
  Andrew De La Rosa, ICT Chambers, Cayman and London
18.30 Reception and Group photograph
  Held on the Lawn of the Inner Quadrangle. Please note that all attendees should be present for the group photograph, which will be taken at 18.45.
19.30 Formal Closing Dinner To be held in the Great Hall

Saturday 07 September 2013

08.30 - 09.15 Continental or English Breakfast served in the Great Hall
12.30 - 14.00 Luncheon will be served in the Great Hall
16.00 All rooms to be vacated
   
  The Conference Organisers would be happy to assist delegates in compiling their personal itinerary