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Moneyweb: Major compliance risks pile higher costs on trusts

FISA Vice-Chaiperson Penelope du Plessis spoke to Moneyweb about the burden increased compliance is having on trusts, with trustees having to carefully consider risks.

Besides grave concerns about the safety of personal information, the additional paperwork, reporting and compliance requirements have introduced an extra layer of costs for all trusts. Given this huge risk, trustees are increasingly considering risk-based pricing structures with the inevitable increase in the cost of administering trusts.

Read here.