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    (articles form Manila Standard Today)  
 

Sailing away from the Lehman storm
To clear my jet-lagged head of the debilitating Lehman-led gloom and doom that constantly rose from the business papers offered by the soothing hands of the cabin crew of Singapore Airlines Flights 915 and 002 as we flew last Friday from Magellan’s side of the Pacific to Vespucci’s, I requested my hosts to book me for a bit of sailing at the San Francisco Bay in the afternoon of the 25th.  They did and, at least for about an hour and a half, I felt what it was to be like Nicolas Lazares. Nicolas Lazares, a managing director of Lehman Brothers Holdings who retired early this year just before the storm set in, is into sailing and more. Click for Complete Article
 

 
 

Ask StanChart no stupid questions
The combined gravitas of the resource persons matched the weighty subject matter of the consultation.  Sen. Angara called attention to the “financial turbulence [that] is swirling around our head and all over the world.” He thus wanted the public consultation to “focus on our situation, of course, and according to the newspapers, certain Philippine banks reportedly have a total exposure of US$386”  He proceeded to mention the seven banks which were reported in the papers to have invested in Lehman Brothers, with their alleged respective exposures, naming them as follows, “Banco de Oro, 13 million; DBP, 90 million, but this has been considerably reduced according  to our chief executive Rey David; Metropolitan Bank, 71 million; Rizal Commercial Bank, 40 million; Standard Chartered, 26 million; Bank of Commerce, 15 million; United Coconut Planters Bank, 10 million.” Click for Complete Article
 

 
 

HB No.5043 is not good for your health, constitutionally speaking
I object to House Bill No. 5043 in its entirety and not just to some of its parts. My reason is that the parts that I object to, which are the provisions that, to me and to others, are unwarranted intrusions into a person’s privacy and unjustified curtailment of his freedom of conscience, form the heart of the bill, and excising them would leave the bill a dead letter.
The right to privacy is settled law. Ever since 1968, when the Supreme Court decided the case of Morfe v. Mutuc, it has been recognized that “the right to privacy…is fully deserving of constitutional protection.”  More explicitly, in 1998, the Supreme Court ruled, in Ople v. Torres, that “the right to privacy is a fundamental right guaranteed by the Constitution.”
Click for Complete Article

 

 

Trade Disruption Insurance
On Friday next week, the 24th of October, from one who is most likely the oldest living icon of Philippine insurance will come a half-day seminar on what is most probably the newest risk management tool to considered by businessmen in the country: trade disruption insurance (TDI).
TDI is a logical progeny of the modern phenomenon  of globalization of trade. Trade, for most countries, is no longer confined within their borders.
Click for Complete Article

 
     


speech of Atty. Ricardo J. Romulo

 

 

Click and Go To TOAP Page
Directory of Members of the Trust Officers
Association of the Philippines- 2008



The Living Trust is Alive and Well
powerpoint presentation

Click and Go To TIFP Page

 
Wealth Magazine articles:
Give to tax credit certificates their credit due?
A lean harvest of tax cases
VAT -erred BIR
 
From the Trust Guru of ManilaStandardToday (more)
o Sailing away from the Lehman storm (Nov 5,2008)
o Ask StanChart no stupid questions (Oct 29,2008)
o HB No.5043 is not good for your health,constitutionally speaking (Oct 22,2008)
o Trade Disruption Insurance (Oct 15,2008)

 

 

           

  For the full text of articles that appeared at the trust guru's column in TODAY, click on TRUST AND ESTATES  
For the full text of articles that appeared at the trust guru's column in THE MANILA METEOR, click on geronimo@tax
 
To effect true banking reform...we have to cede back...prerogatives we have learned to enjoy.
rjrsmla.jpg (1654 bytes)"Excoriating BSP officials for not preventing the misuse of the banking system is pointless, unless Congress passes the necessary legislation empowering BSP to enact and enforce the relevant regulations," says Atty. Ricardo J. Romulo, Chairman of the Makati Business Club, before the Rotary Club of Manila during its regular meeting on 22 February 2001.  Reflecting on his brief but stressful experience as Chairman of the Board of Equitable PCI Bank from December 19, 2000 to January 31, 2001, Atty. Romulo observed that the shortcomings in the banking sytem in the areas of governance, transparency and discipline are primarily the result of the demands of the banking public.  Thus, he maintained that in order to effect true banking reform, those who avail themselves of banking services must be prepared to give up some of the "creature comforts" customarily extended the banks to its favored clients.  The full text of his address is found in News and Views.
   

 

 

 

 

    

       

      
Mission To serve as a hub where those who need and those who provide professional trust and other fiduciary services, as well as those in related fields, may avail themselves of reliable and recent information, exchange with one another views and comments on current developments, engage in a common effort to upgrade the standards of ethics and practice in the industry.
 
Vision A world where  trusts and other similar services are familiar household  amenities, where fiduciary duties and responsibilities are rendered and availed of with highest standards of loyalty, prudence, and professionalism.
 
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