Isle of Man Trust Law Reform: the Trusts and Trustees Act 2023   By the Trust and Trustees Act 2023, the Isle of Man introduced substantial reforms which bring its legislation in line with the most contemporary trust legal systems. This is achieved through amendments to the existing trusts legislation…

SOUTH AFRICA: NEW REPORTING OBLIGATIONS FOR TRUSTEES In 2021, the Financial Action Task Force (FATF) published its Mutual Evaluation Report on South Africa, summarizing the effectiveness of South Africa’s anti-money laundering and counter-terrorism financing measures. The main shortcomings related to the difficulties in obtaining accurate, updated, and adequate beneficial ownership…