Yes. Trust regulation has predominantly evolved upon Common Law and equitable principles where fiduciary duty is the overarching requirement. In contrast, banking regulation is typically based on well-formulated rules and regulations that govern almost all actions and reporting requirements that banking institutions need to follow.

Arguably, trust regulation provides the trustee with greater flexibility in actions that it can execute on the management of trust assets and its reporting requirements. Trust regulation allows a high level of discretion to the trustee on how to manage the assets with different trust structures.

From the application of Common Law and equitable principles, the legal title of assets vested under a trust (subject to certain timeline constraints) will no longer be in the name of the Settlor (asset contributor) but be transferred to the trustee. Hence, creditors of the settlor or claimants under matrimonial, family feudal, or other civil litigation will not be able to claim the assets under trust. Unlike under banking regulation, legal titles to assets have never been separated from the client, which means there will be a less legal protection from any claim against the client's assets.