A full-day conference on trust and estate business this Friday will take a close look at proposed new legislative changes in Bermuda.

A plan to bring in tough rules of registration regarding land trusts in Bermuda was withdrawn by Government at the start of the year amidst concern at the damage it would cause to the trust business sector.

Labour and Immigration Minister Derrick Burgess has now tabled a replacement bill, the Bermuda Immigration and Protection Amendment Act, which seeks to clamp down on the practice of "fronting", where a Bermudian illegally fronts a trust to buy and hold land on behalf of non-Bermudians.

The new proposal is less intrusive than the original legislation, which was generally felt would cause great damage to the trust business in Bermuda.

But whether it is workable or needs further "tweaking" in the eyes of the Island's trust operators has not been made public, but is expected to become so on Friday when the Society of Trust and Estate Practitioners (STEP) holds its 7th annual Trust and Estates Conference at the Fairmont Hamilton Princess Hotel.

Robin Mayor, president of the Bermuda Bar Association, said the association had sent a submission to the Ministry with observations on the proposed legislative amendment and would decline comment until the Ministry had had a chance to respond.

As part of the STEP conference Alec Anderson, who is partner and head of Conyers Dill and Pearman's trust and private client department, is due to talk on decisions affecting trustees and the proposed legislative changes. Lindsay McCann, vice chair of the Bermuda Association of Licensed Trustees will also look at the future of the Bermuda trust industry.

The conference, which is themed "Cutting Edge Issues in Today's Trust Business", has been expanded from a half-day to a full-day event and has attracted overseas speakers and sponsorship.

STEP chairwoman Carmen Lightbourne, told the Royal Gazette: "It should be a very good conference with some break-out sessions and we have a few more attendees from overseas who are tying in the conference with other business they are doing on the Island."

Regarding the new trust legislation, she said: "We have slated information on the legislation and that will be talked about. Alec Anderson will be one of the speakers to address the shift."

The conference is principally sponsored by GAM and will feature an update on anti-money laundering legislation from William Kattan, Bermuda Monetary Authority's director of legal and enforcement services.