Metis and the Chartered Insurance Institute (CII) work together to advance industry expertise

HONG KONG, Jan. 20, 2025 /PRNewswire/ -- 2024 has come to a perfect close, Metis reflects on the achievements of its third year of collaboration with the Chartered Insurance Institute (CII), showcasing the deep synergy developed between both parties. The 2024 LEAD (Learning, Enhance and Development) programme, held in July, August, and September, concluded with a certificate presentation ceremony on 25 October 2024. On that day, Dr Cheung, Founder and Chairman of Metis Global Group, attended the ceremony to present certificates and deliver a keynote speech personally. Following in December, our expert contributed an article to the institute's journal, The Asia-Pacific Journal, in its December 2024/ January 2025 issue, offering valuable insights into offshore asset management and fostering professional industry exchanges.

The LEAD programme, now in its third year, has become a hallmark professional development opportunity for industry practitioners. This year's curriculum expanded beyond core insurance topics to include courses on family office trusts, estate planning, and wealth management. More than a hundred participants attended the certificate ceremony on 25 October 2024. In his remarks, Dr Cheung stated, "Metis, now in its second decade, remains dedicated to fostering collaboration and mutual growth. Partnering with CII, a trusted provider of professional training, allows us to share the latest trends and perspectives in trust and wealth management. It is our honour to align our efforts with CII's vision of advancing professionalism and innovation in the industry."

The Asia-Pacific Journal article explores the Cook Islands' advantages in international asset protection and wealth management. It highlights the jurisdiction's innovative trust laws, robust regulatory framework, and world-class anti-money laundering measures, which combine international compliance with clients' privacy needs, creating a transparent and secure environment for wealth management. The article underscores Metis' core value of providing compliant and secure wealth management solutions.

Whether through in-depth exploration of global asset protection trends or hosting professional development courses, Metis' collaboration with CII exemplifies a shared commitment to creating value for the industry and enhancing service quality. Looking ahead, Metis will continue to lead with professionalism, innovation, and a global perspective, working with industry partners to shape the future of wealth management.

[Appendix]

The article below is published in the December 2024/ January 2025 issue of The Asia-Pacific Journal, published by the Chartered Insurance Institute. Follow the link to read the original version (p.10): https://thejournal.cii.co.uk/asiapacific/2025/01/10/asia-pacific-journal-december-2024january-2025

The Cook Islands - Providing Peace of Mind

Whilst it is true clients want their financial service providers to be progressive, provide expertise and grow wealth, in these very uncertain political and economic times they also want to be sure their assets are safe and secure and held within organisations and jurisdictions that are well regulated and compliant with international best practices.

Over the past four decades the Cook Islands has shown itself to be innovative with its trust laws, which provide the strongest protection for a settlor's assets, but also a leader in the regulation of the licensed trustee companies that hold those assets and in the implementation of a money laundering regime designed to protect the Cook Islands banking system from being used by those seeking to commit financial crimes. 

Regulation

The Cook Islands Financial Supervisory Commission ("FSC") is responsible for the regulation and supervision of all financial services and licensed financial entities (including licensed trustee companies) in the Cook Islands. One of the FSC's key responsibilities is to protect the interests of clients of financial institutions, policyholders and depositors. Any complaints concerning the conduct of a licensed entity can be taken to the FSC (as well as the business itself and the Ministry of Internal Affairs) for investigation.

International Best Practice

Over recent years the Cook Islands has received an outstanding Mutual Evaluation Report from the FATF indicating it has one of the best anti-money laundering regimes in the world. It has implemented the CRS and FATCA into its laws to ensure transparency through automatic exchange of financial information with other jurisdictions to assist in countering tax evasion and other financial crimes.  The Cook Islands is a member of the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes as well as its BEPS Inclusive Framework. It has avoided being placed on the EU's non-cooperative tax jurisdiction list by making carefully constructed amendments to its tax laws. The EU and the OECD regard the Cook Islands as a cooperative tax jurisdiction.

Despite its commitment to meet its international obligations through compliance with EU, OECD and FATF standards, the Cook Islands has been able, through its laws, to maintain its reputation for accountability and responsibility whilst continuing to be a safe haven for individuals seeking legitimate privacy for their personal affairs.

International clients expect adherence to international standards and obtain peace of mind knowing the Cook Islands and its service providers continue to provide the highest quality service in a well regulated, compliant and responsible manner.