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Change the law so that Independent Trusts are regulated

Submitted by Emily Wieteska on Wednesday 9th December 2020

Published on Thursday 31st December 2020

Current status: Closed

Closed: Wednesday 30th June 2021

Signatures: 57

Relevant Departments

Tagged with

Approve ~ Approved ~ Ensure ~ independence ~ Independent ~ Law ~ The Independent ~ trust

Petition Action

Change the law so that Independent Trusts are regulated

Petition Details

I would like the government to ensure that all Independent Trusts are regulated by the same legal framework, and overseen by a specific legal authority or government approved regulator.

Additional Information

I have recently discovered that where life assurance lump sums go into a discretionary trust, the Independent Trusts involved are not regulated and solely operate on their own internal policies. This means that where a discrepancy arises, they only have their own internal complaints procedure to follow, which I have discovered is not fit for purpose. They can essentially do whatever they like, and there’s nothing anyone can do about it. They should be regulated, and answerable to a higher body.


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