The BeNeLux Branch
of the Society of Trust &
Estate Practitioners
(STEP)
YOU ARE INVITED TO AN EVENING SEMINAR ENTITLED
Banking Secrecy: Where Are We Now?
Luxembourg’s Financial Industry in the Age of Transparency
26 November 2015 at 17.30 presented by
Alain Hondequin (ABBL),
Jean Schaffner (Allen & Overy) and
Alain Steichen (Bonn Steichen & Partners)
ALAIN HONDEQUIN, Secretary General of the ABBL since 1st March 2014 and founding
member of ALCO (the Luxembourg Compliance Officers’ Association). Alain has more than 30
years of experience in the banking industry, mostly in legal and compliance functions: in particular he
was Head of Legal & Compliance of UBS Luxembourg SA for almost 20 years. He has been actively
involved in the work of the ABBL since 1991, having been a member of several technical committees
and working groups as well as having chaired the Professional Obligations Committee.
JEAN SCHAFFNER TEP, partner Allen & Overy: Jean heads the Luxembourg tax practice. He
advises various international investment banks on tax structured finance schemes and has extensive
experience in advising institutional investors and private equity funds in cross-border investments all
over Europe, and in advising clients on tax aspects for Luxembourg investments and in relation to
the structuring of international acquisitions via Luxembourg regulated and non-regulated vehicles.
He has more than 20 years of experience as a tax lawyer and has written several books on
Luxembourg and international taxation. He is ranked Band 1 Tax in Luxembourg in Chambers and
Partners.
ALAIN STEICHEN, partner and head of tax at Bonn Steichen & Partners, is also an Associate
Professor at the University of Luxembourg. He represented the Ministry of Finance in various State
Aid discussions and he is a member of the European Association of Tax Law Professors, the
International Fiscal Association and the Luxembourg Institute of Chartered Accountants (IRE). He
is ranked Band 1 Tax in Luxembourg in Chambers and Partners.
THE SEMINAR WILL ADDRESS THE FOLLOWING TOPICS:
 The Common Reporting Standard (CRS) for automatic exchange of tax information will take
effect on 1st January 2016: this represents a “paradigm shift” for Luxembourg, a traditional
“banking secrecy” jurisdiction
 Are there competitive advantages in being an “early adopter” while the main competitors in the
private banking industry (Switzerland, Monaco, Singapore) are adopting the CRS one year later?
 Should banking secrecy be maintained for Luxembourg residents?
 A public register of beneficial owners is required under the 4th EU AML Directive: possibly a
step too far?
 A major wave of changes can be expected out of BEPS: the repeal of the IP regime is one
example. Is the traditional “Soparfi” heading for the history books?
 Will the newly enacted procedure offer an adequate guarantee to taxpayers seeking the Revenue
authorities’ control in the form of a ruling?
Please note jackets and ties are required at the Cercle Munster.
Please advise any special dietary requirements when making reservation.
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The BeNeLux Branch
of the Society of Trust &
Estate Practitioners
(STEP)
WHO SHOULD ATTEND? Everyone involved in wealth planning and preservation, including,
but not limited to, all estate and trust professionals, lawyers, accountants, trust officers, current STEP
members and students, applicants and other providers of ancillary services.
WHAT IS STEP? The Society of Estate and Trust Practitioners is the premier global trust and
estate planning organisation dedicated to informing and educating estate planning and administration
professionals. STEP has over 20,000 members in 80 jurisdictions and provides its worldwide
members with international learning and a business network focusing on the responsible stewardship
of assets today and across the generations. See www.step.org and www.stepbenelux.org
THE VENUE: Cercle Munster, 5-7, rue Munster, L-2160 Luxembourg-Grund.
ENTRANCE: The cost is 45 euro per person. Please reserve your tickets via Eventbright (link
below) or by emailing chris@stepbenelux.org
https://www.eventbrite.com/e/banking-secrecy-where-are-we-now-luxembourgs-financial-industryin-the-age-of-transparency-tickets-19530047899
TIMETABLE:
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5.30 pm: doors open - registration, drinks, etc.
6.00 pm: welcome address by STEP Benelux Chairman Luca Tomasi TEP.
6.15 pm: panel discussion moderated by Paolo Panico TEP of Private Trustees, during which the
three keynote speakers will develop the main topics.
7.15 pm: end of panel discussion, followed by question and answer session, drinks, canapés with
an opportunity to continue discussions with the speakers and network with friends and
colleagues.
Numbers are limited and will be allocated on a first-come/first-served basis. Please note that
cancellations must be received in writing at least 48 hours before the event, otherwise we will be
obliged to charge a full cancellation fee.
STEP Benelux a.s.b.l.
c/o Maitland, 56 rue Charles Martel, L-2134 Luxembourg
Luxembourg Tel: + (352) 163 868
Chairman: Luca Tomasi TEP
Vice-Chairman: Louise Benjamin TEP
Treasurer: Graham J Wilson TEP
Secretary: Christopher Vigar MBE TEP
Please note jackets and ties are required at the Cercle Munster.
Please advise any special dietary requirements when making reservation.