STEP Diploma in International Trust Management: A New Diploma and Curriculum Update

Introduction: A new flexible Diploma

In July 2020, a change in the way STEP delivers its Diploma qualifications will come into effect as part of a revision to the Qualifications and Membership Framework. This will also see a revised curriculum for international students enrolling for programmes from 2021 onwards.

STEP is increasing its capabilities as a global education provider by harmonising its existing qualifications into a single Diploma system. Under the changes to the Framework, there will be a single flexible Diploma, encompassing globally applicable technical and practical content relevant to all STEP members. These changes have been made in direct response to employers’ requests for a wider range of content to be available to support business needs and employee learning and development.

Building your Diploma

The STEP Diploma will comprise 60 Diploma level (DL) credits from compulsory courses and 60 DL credits from elective courses.  For the compulsory courses, 30 DL credits will be from a set of Private Wealth: Administration and Governance courses and 30 from a set of Tax and Compliance courses. Using this structure, students will be able to build their own bespoke Diploma.

There are no changes to the number of credits required under the Qualifications and Membership Framework to progress through the STEP Affiliate, STEP Associate and the Full Member category of STEP.

Individual courses are usually worth 30 credits against STEP’s Qualifications and Membership Framework. 60 DL credits are required for STEP Associate membership and 120 DL credits are a prerequisite for applying for Full STEP membership.

Further information surrounding the elements of the New Diploma structure can be found here:

The STEP Diploma in International Trust Management: 2021 Curriculum Update

From July 2020 students must select Advanced Certificates in line with the revised Diploma framework, which will include access to the new Advanced Certificates and revised syllabi for courses taking place from 2021 onwards.

Previous Model

Under the current framework international students study the following four Advanced Certificates:

  1. Trust Creation: Law and Practice;
  2. Company Law and Practice;
  3. Trust Administration and Accounts;
  4. Trustee Investment and Financial Appraisal,

New Model

From July 2020 most will study the following relevant Advanced Certificates:

  1. Trust Creation: Law and Practice (updated);
  2. Company Law and Practice (updated);
  3. Trustee Duties, Investment and Investment Appraisal;
  4. Principles of International Taxation, AML and Compliance.

The main syllabus changes are outlined below: 

  • Trust Creation: Law and Practice. Whole syllabus reviewed and updated. Content on Reserved Powers and Sham, Distributions and Variation and Termination of Trusts moved here from the previous ‘Trust Administration and Accounts’ Advanced Certificate. Two modules on AML removed as now covered in the new ‘Principles of International Taxation, Compliance and AML’ Advanced Certificate. 
  • Company Law and Practice. Whole syllabus reviewed and updated. Tax/compliance content removed as now covered in ‘Principles of International Taxation, Compliance and AML’ Advanced Certificate. 
  • Trustee Duties: Investment and Investment Appraisal. Trust Administration and Accounts and Trustee Investment and Financial Appraisal Advanced Certificates combined and content reviewed and updated to create this new Advanced Certificate. Accounts content removed and available as a separate 15 credit Advanced Certificate from January 2021. Some Futures and Ratios content removed. 
  • Principles of International Taxation, Compliance and AML. This is a new Advanced Certificate. Some Taxation and AML content from previous Trust Creation: Law and Practice and Company Law and Practice Advanced Certificates included but expanded on here, and new content on the principles of international taxation, compliance and risk included.

The International syllabus changes will be introduced from July 2020 in stages: 

In July 2020 the following updated Advanced Certificates will open for enrolment for face-to face tuition and/or examination from January 2021 only.

  • Trust Creation: Law and Practice
  • Company Law and Practice

 In January 2021 the following Advanced Certificates will open for enrolment for face-to-face tuition and/or examination from October 2021 only.

  • Trust Duties: Investments and Investment Appraisal
  • International Tax, Compliance and AML

This means that until August 2020 students will be able to enrol on the previous versions of the Trust Creation: Law and Practice and Company Law and Practice Advanced Certificates, provided the face-to-face course and/or examination takes place before the end of 2020. Trust Creation: Law and Practice and Company Law and Practice Advanced Certificates with face-to-face courses or examinations from January 2021 will be aligned with the new syllabus. Re-sit examinations for these two Advanced Certificates will be provided until July 2022. 

Until January 2021, students will be able to enrol on the previous versions of the Trust Administration and Accounts and Trustee Investment and Financial Appraisal Advanced Certificates, provided the face-to-face courses and/or examination takes place before October 2021. Advanced Certificates with face-to-face courses or examinations from October 2021 will be aligned with the new syllabus. Re-sit examinations for these two Advanced Certificates will be provided until April 2023.

Details of how International students who are part-way through the Diploma in International Trust Management can transfer to the new Advanced Certificates can be found HERE.

For further information surrounding transfers, cancellations, exemptions or picking up your studies after a learning break, please send your details to us below and we will arrange for a member of the Programme Team to contact you to discuss the options available.