The International Trust, 2nd Ed, By John Glasson and Geraint Thomas, Eds

Abstract

This new edition, a book edited by John Glasson and Geraint Thomas, continues the aim of the first edition to provide, in a convenient single volume form, guidance to international trust practitioners and litigators on a wide range of specialist topics. The material is largely derived from contributions to the loose-leaf encyclopaedia, also published by Jordans—International Trust Laws. These are the general chapters which accompany the country-by-country analysis of trust laws. This second edition includes three new topics. John Rhodes and Ed Powles of Macfarlanes of London deal with Trusts, Trustees and the UK Money Laundering Regime and how the provisions of the Proceeds of Crime Act 2002 apply to the trust industry. These are not specific trust provisions so it is necessary to see how general provisions apply. An interesting quotation at the beginning of the chapter by Bertolt Brecht says: ‘Amateur criminals rob banks. The real professionals create them’. This seems to be a true statement, even if Bertolt Brecht did not have money laundering in mind as the criminality of professional bankers! Although this chapter deals with the UK anti-money laundering law, the next new chapter on the liabilities of trust service providers in international financial law takes a wider view although, in considering how the law on the investment of trust funds and the liabilities of trust service providers are moulded by the international law of finance and financial regulation, there is still a considerable emphasis upon the Financial Services Act of the UK.