As we will be administering a platform responsible for the lifetime income of a very large number of consumers, it is imperative that the products are fully licenced & regulated & to this end we are in discussions with internationally regulated fiduciary & trust firms which already possess the appropriate licences for those markets where we shall have a major presence.
In respect of specific legislation regarding Tontines, Tontine Insurance is regulated in Europe under the Directive 2009/138/EC of the European Parliament the prior version of which established the definition of Tontine Insurances as:
“ an associations of subscribers are set up with a view to capitalising their contributions jointly and subsequently distributing the assets thus accumulated among the survivors or among the beneficiaries of the deceased (tontines);”
Tontines in France are regulated under Code des assurances Article R322-139 through Article R322-159.
Tontine Trust will not itself offer offer trustee services and will not register is as an approved trustee in any other jurisdiction.