News & Analysis as of

Private Trust Companies

Private family trust companies authorized under new Missouri law

by Thompson Coburn LLP on

The new Missouri Family Trust Company Act allows families to establish their own family-owned and -controlled private trust companies, which can hire banks and public trust companies to assist with investment and management...more

Treasury Proposes Regulations That Would Require Private Trust Companies to Establish or Enhance AML Programs and to Identify...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published proposed regulations on August 25, 2016 that would require certain private trust companies utilized by high net worth individuals,...more

SEC Updates Frequently Asked Questions Regarding Municipal Advisor Registration Rules

by Goodwin on

The SEC’s Office of Municipal Securities has updated its frequently asked questions (the “FAQs”) that present its views regarding various aspects of the SEC’s municipal advisor registration rules (the “Final Rules”). (See...more

SEC “Common Trust Fund” Exception Narrowly Construed for Private Trust Companies

by BakerHostetler on

Recent years have seen a dramatic increase in the number of Private Trust Companies (“PTCs”) established by wealthy families. PTCs are used to consolidate the trustee function of multiple trusts within a family, and because...more

Bad Planning In Foreign Asset Protection Trust Scenario

by Charles (Chuck) Rubin on

Foreign asset protection trusts are often established by U.S. persons to shield their assets from creditors. Typically, assets transferred to the trust can be paid to or applied for the benefit of the U.S. grantor(s) and...more

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