DAY 1: TUESDAY 20 NOVEMBER 2018 Morning Chair: William Ahern TEP, Ahern Lawyers, Hong KongAfternoon Chair: George Hodgson, STEP, UK

8.00am Registration and refreshments

Exhibits open

8.45am Welcome from STEP Hong Kong

Richard Grasby TEP, Partner, Charles Russell Speechlys, Hong Kong

8.50am Welcome from STEP Worldwide

Patricia Wass TEP, Chair of STEP Worldwide

8.55am Welcome from WE ARE GUERNSEY

Kate Clouston, Deputy CEO, Guernsey Finance

9.00am Keynote address: Why these things matter

This address examines the philosophical foundations of the following legal privileges, protections and conventions and argues why we must remain vigilant against attacks on them

• Legal professional privilege• Client confidentiality• The unacceptability of retrospective laws and strict liability criminal

laws/offences that compel us to inform on each otherJonathan Midgley, Haldanes, Hong KongKindly sponsored by Maples Fiduciary

9.30am Panel – Discussion of the keynote in the context of the OECD’s CRS Mandatory Disclosure Rules

Moderator: William Ahern TEP, Ahern Lawyers , Hong KongZac Lucas TEP, Centenal Legal Technology Group, Singapore David Russell QC TEP, Outer Temple Chambers, UAE

10.15am PRC succession issues

• The complexities of Chinese intestacies and contested wills• Common mistakes in Chinese will preparation and execution • How Chinese and non-Chinese citizens can succeed to Chinese assets• Latest developments in China’s trust lawModerator: Richard Grasby TEP, Charles Russell Speechlys, Hong Kong Chen Han, Han Kun Law Offices, PRC Joyce Huang, Fangda Partners, PRC Echo Zhao, Beijing Anjie Law Firm, PRC

11.00am Networking and refreshments

11.30am Blockchain 101 for the private wealth industry

• The history and ethos of Blockchain, where it came from and where it might be headed

• Blockchain Technologies explained simply• Blockchain market structure, risks and opportunitiesModerator: David Chong TEP, Portcullis Group, SingaporeMatthew Cannon, Lightbulb Capital, SingaporeKeith Barrett Carter, National University of Singapore, School of Computing, Singapore

12.15pm Protecting today’s wealthy families

• How to stay Cyber-safe • Protecting your digital identity • Implement prevention techniques to safeguard your IoT (Internet of

things) • Assessing risks in the following areas, home /office; life style; and

travelRichard Stagg, Handshake Networking Ltd, Hong Kong Robert Youill, Hill & Associates Ltd, Hong Kong

1.00pm Networking lunch

Kindly sponsored by WE ARE GUERNSEY

2.00pm Specialist topics

Option 1: Political risk planning: Issues to consider with assets in unstable jurisdictions

• What are investment treaties and how can they be used to manage political risk in investment structures?

• How can you use investment treaty arbitration to recover damages arising from political risk?

• How can you use third-party funding to cover your legal costs?Hussein Haeri, Withers LLP, UK Cheng-Yee Khong, IMF Bentham, Hong KongKindly sponsored by Invest Samoa

Option 2: How to avoid double taxation? Tax treaty 101

• How DTAs and unilateral relief allocate taxing rights• The impact of BEPS on the DTA model of international taxation• Hong Kong’s territorial tax system within the DTA framework and its

impact on its role as an international financial centreStefano Mariani TEP, Deacons, Hong Kong Steven Sieker TEP, Baker & McKenzie, Hong KongKindly sponsored by IPG

Option 3: UK Tax update - ten trips and traps

• Deemed domicile rules – tainting and other issues to watch • Onward gifting rules – planning points• UK residential & commercial property – inheritance tax & capital

gains taxNicholas Jacob TEP, Forsters LLP, UK Peter Vaines TEP, Field Court Tax Chambers, UKKindly sponsored by WE ARE GUERNSEY

Option 4: Trustees/executors and digital assets

• Dealing with the digital estate: - Setting up workflows for digital estate planning - Administrating digital estates where there has been insufficient pre-

death planning• Crypto assets: advising on and dealing with them as trust or estate

assets• The latest issues with digital assetsLouise Lewis TEP, Penningtons Manches LLP, UK Leigh Sagar TEP, New Square Chambers, UKKindly sponsored by Jersey Finance

2.45pm Change rooms for next specialist sessions

2.50pm Specialist topics repeated – options as listed above

3.35pm Networking and refreshments

4.05pm Buying and selling trust and corporate service providers

• Motivations and expectations of buyers and sellers• Key elements of a deal’s negotiation and conclusion• Post closure issues for all partiesModerator: Michael Olesnicky TEP, KPMG, Hong KongStephen Breed, Tenzing Investments (Pte) Ltd, Singapore Martin Crawford, Vistra Group, Hong Kong

4.45pm Innovative trust provisions being considered in more conservative courts • Reserved powers to settlors – the Pugachev decision• The attitude of family courts to offshore structures and firewalls• Information restrictions in offshore trusts, how these are received in

onshore jurisdictions, and ways round them • Mistakes, rectification and variation of trusts – offshore vs onshore

focusJonathan Hilliard QC, Wilberforce Chambers, UK Graeme Kleiner TEP, Charles Russell Speechlys, UK

5.30pm Day one closing address

George Hodgson, STEP, UK

6.30pm Cocktail dinner partyClub Albergue 1601, Shop 1105, 11/F, Times Square, Causeway BayCoaches depart at 6.00pm sharp outside the hotel.

Day 1Providing Direction in an Evolving World

STEP ASIA CONFERENCE 2018

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Day 2

DAY 2: WEDNESDAY 21 NOVEMBER 2018Morning Chair: Richard Grasby TEP, Charles Russell Speechlys, Hong Kong Afternoon Chair: Michael Olesnicky TEP, KPMG, Hong Kong

8.00am Welcome refreshments

Exhibits open8.10am Briefing in association with WE ARE GUERNSEY

The evolution of the Trust law in Guernsey; Proposals for law reformMuch of Guernsey’s economic success over the past 50 years or so has been largely due to its adaptability and flexibility to react to changing market situations and conditions. This briefing will look at current proposals to reform the Trusts (Guernsey) Law, 2007. We were also one of the first jurisdictions to regulate the provision of trust services nearly 20 years ago. We will consider what life is like for trustees operating in a regulated environment in order to give trustees facing regulation for the first time an idea of the sort of issues that they may experience.Russell Clark, Carey Olsen, Guernsey C.I

8.50am Welcome address

Richard Grasby TEP, Charles Russell Speechlys, Hong Kong

9.00am Keynote address: The state of private wealth management in Hong Kong

Mr Chan will discuss his vision for the continued development of private wealth management in Hong Kong.Joseph Chan, Acting Secretary for Financial Services and the Treasury, Hong Kong

9.15am Family retreats – the way forward?

• The imperatives for families and the advisor’s role• Design elements for success• Optimal processes to achieve transformative breakthroughs• How advisors can exceed clients expectations and charge accordingly

Philip Marcovici TEP, Offices of Philip Marcovici, Hong Kong

10.15am US reform – impact on the private wealth industry

• Issues with the temporary estate tax exemption increase• Changes to the income tax rules, the taxation of offshore holdings, and

rules impacting multinational individuals and businesses• Planning for non-resident aliens, US persons, individuals considering

expatriating from the USJennifer Jordan McCall TEP, Pillsbury Law, USA Kurt G Rademacher TEP, Butler Snow LLP, Hong Kong/Singapore Erik Wallace TEP, Stephenson Harwood, Hong Kong

11.00am Networking and refreshments

11.30am Who is your client and why does it matter?

• Who has legal privilege, how to get it, and how to lose it• Avoiding conflicts as an advisor to trustees, settlors, beneficiaries and

different family members• Acting for beneficiaries in replacing trustees• The need for separate adviceModerator: Paul Hodgson TEP, Butterfield Trust (Guernsey) Ltd, Guernsey C.ISamantha Bradley TEP, Sir Elly Kadoorie & Sons Ltd, Hong KongSally Edwards TEP, Ogier, Jersey C.INisha Singh TEP, HSBC, Singapore

12.15pm Case review

In this lively session the panel members will examine the most important recent cases from around the world, including those hot off the press.Moderator: Shân Warnock-Smith QC TEP, ICT Chambers and 5 Stone Buildings, Cayman/London Edmund Leow SC TEP, Dentons Rodyk & Davidson LLP, SingaporeZiva Robertson TEP, McDermott Will & Emery UK LLP, UK

1.00pm Networking lunch

2.00pm Specialist topics Option 1: What to do when a foreign grantor dies and the foreign trust has

US beneficiaries? The grantor is terminally ill with a month to live, and the trustee has asked the following:• Are there any pre-death actions to take?• After death, what planning should be considered? - New Tax Laws? - Interplay with Foreign Estate?• Changes for US beneficiaries going forward?• Changes for trustee going forward?Moderator: Todd Beutler TEP, BMT International, Hong KongM. Katharine Davidson TEP, Henderson, Caverly & Pum LLP, USAFabiola Suwanto TEP, Perkins Coie LLP, PRCKindly sponsored by Lombard International

Option 2: Changing trustees – who is entitled to what?

• Practical and legal points for outgoing trustees• Practical and legal points for incoming trustees• Case studies including judgments showing good and bad outcomes

for outgoing and incoming trusteesJoanna Caen TEP, Herbert Smith Freehills, Hong Kong Melanie Ison TEP, Nerine Trust Company, Hong KongKindly sponsored by Cook Islands Financial Services Development Authority

Option 3: Issues relating to an ageing population

A leading private bank study found that nearly 60% of HNWIs in Hong Kong now believe they will live to 100 and many believe retiring later is good for health. This suggests that inter-generational transfer of wealth may only take place when the second-generation family members are well into their 40s to 60s. Just how prepared are HNW families in Asia when dealing with aging patriarch/matriarch issues and how can practitioners help HNW families plan better? Thelma Kwan TEP, Barrister-at-Law, Hong KongWai Soon Lum TEP, UBS Group AG, Hong Kong Kindly sponsored by BDO

Option 4: Italy the new UK

• The Italian forfait tax regime for HNWIs moving to Italy• The 100k Euro tax on foreign-source income and gains• The exemption of foreign assets from wealth taxes and inheritance and

gift tax• Entry visas, including the new investor visaNicola Saccardo TEP, Maisto e Associati, Italy Raul-Angelo Papotti TEP, Chiomenti, ItalyKindly sponsored by Touchstone

2.45pm Change rooms for next specialist sessions

2.50pm Specialist topics repeated – options as listed above

3.35pm Networking and refreshments

4.05pm Clients from Asian community property jurisdictions

• Impact of Community Property law in Asia• How important are continuing residence, nationality or domicile to

retaining matrimonial domicile in home jurisdiction• Relevance of community property to Asian trust and estate planning

and typical litigation risks of overlooking itChair: Paul Stibbard TEP, Rothschild Trust, UK Andrew De La Rosa, ICT Chambers, Cayman IslandsMichael H. Shikuma TEP, Shikuma Law Office, Japan Ningning Zhao, Jincheng Tongda & Neal Law Firm, PRC

4.45pm Interview with HSH Prince Michael of Liechtenstein

Prince Michael traces his family history through roughly 36 generations of wars, expropriations and other calamities large and small. He identifies key factors in this great story of survival and prosperity and elucidates his approach for long-term and trans-generational wealth preservation.Interviewer: William Ahern TEP, Ahern Lawyers , Hong Kong

5.30pm Final remarks and close

Michael Olesnicky TEP, KPMG, Hong Kong

6.30pm Farewell reception and BBQ dinner

The Pool House & Grill, Grand Hyatt Hotel, Hong Kong

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Providing Direction in an Evolving World

STEP ASIA CONFERENCE 2018