The Society of Trust and Estate Practitioners (STEP) has commenced a one-day conference here in the Virgin Islands with a view to bringing together professionals to examine issues within the financial sector and to brainstorm ways of overcoming them. Photo: VINO

Speaking at the launch earlier today, Premier Dr the Honourable D. Orlando Smith said that STEP has been with the VI for a long time over many Governments in the development, protection and promotion of the financial services industry. Photo: VINO

More of the participants during the training. Photo: VINO

The conference, which commenced today October 7, 2015 at Maria’s By The Sea, will also provide practitioners in the VI with the opportunity to be able to access training both in the VI and internationally. The conference had 120 persons from various entities participating.

STEP is said to be the worldwide professional association for those advising families across generations. STEP promotes best practice, professional integrity and education to its members. “Our members help families plan for their futures: from drafting a will or advising family businesses, to helping international families and protecting vulnerable family members.

“STEP has more than 20,000 members from across 95 countries. They include lawyers, accountants and other trust and estate specialists,” said a press kit on the organisation.

It further said STEP's primary purpose is to support members in their careers, providing professional development and technical information, and protecting their reputation by maintaining high professional standards.

“We take a leading role in explaining our members’ views and expertise to governments, tax authorities, regulators and the public. We work with governments and regulatory authorities all over the world to examine the likely impact of any proposed changes, providing technical advice and support and responding to consultations,” said the press kit.

Speaking at the launch earlier today, Premier Dr the Honourable D. Orlando Smith said that STEP has been with the VI for a long time over many Governments in the development, protection and promotion of the financial services industry.

“Successive Chairs of the BVI branch of STEP have served on advisory committees and worked in close collaboration with the Government on measures to enhance the BVI product. The STEP partnership with the BVI Government is deeply appreciated, not only for the impact of [the financial industry] to the BVI but because STEP is about education,” he said.

“My Government recognises and applauds the individual efforts of STEP’s members in pursuing the International Trust Management Diploma. We also express our gratitude for your contribution to the establishment of the Financial Services Institute that is now the primary institution of tertiary level education preparing BVIslanders for significant roles in the industry,” said Premier Smith.