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Trust 2.0 - 'The Promotion Plan for Full Functions of Trust Services' Implementation Plan

In response to the aging society and declining birthrate, the FSC launched the Trust 2.0-“The Promotion Plan for Full Functions of Trust Services" on September 1. The FSC encourages trust enterprises to actively input adequate resources to restructure organization cultivate professional talent. In addition, Trust 2.0 also seeks to facilitate trust enterprises to integrate their internal resources while cooperating with outside entities in other sectors, in order to move away from their current over-emphasis on trust services for the purpose of wealth management, and instead develop a comprehensive type of trust business that provides customers with services tailored to their particular needs. The Plan is set to run for two years, and key measures include:
  1. Guide financial services firms to gradually elevate the functions of their trust departments and give them a more prominent position within their organizational structure.
  2. Amend the Principles for Review and adoption of Remuneration Mechanisms of Trust Enterprises.
  3. Ease restrictions on the marketing and promotion of trust businesses.
  4. Evaluate the feasibility of specialized trust companies establishment in Taiwan.
  5. Review regulations to enhance the governance of real estate investment trusts (REITs).
  6. Coordinate and enhance the implementation of pre-sale house trust mechanisms.
  7. Formulate family trust legal framework and taxation environment.
  8. Encourage companies to provide employee welfare trusts.
  9. Promote the "Financial Advisors for Seniors" trust professional certification scheme.
  10. Promotion of the "Family Trust Advisors" certification scheme.
  11. Cross-industry cooperation with social welfare organizations, elderly care organizations, and medical institutions.
  12. To set up evaluation schemes to reward trust enterprises and high-performing employees.

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  • Update: 2022-12-29