The Society of Trust and Estate Practitioners (STEP) has set up
a private banking and wealth management group to lobby the UK
government on tax, regulatory and competitiveness issues affecting
the private wealth sector.

STEP’s working group has been founded as regulatory initiatives,
such as FATCA and the RDR in the UK, increasingly affect the market
and private clients.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

STEP’s working group members will include advisory firms and
private banks keen to ensure that the value of private wealth is
better understood by the UK government, STEP said.

The group has been created in the UK, but is seeking members from
around the world.

STEP will look to establish similar working groups in different
countries in the future, a STEP spokesman added.