WELCOME TO THE OFFICIAL WEBSITE OF THE TRUST OFFICERS ASSOCIATION OF THE PHILIPPINES
The Trust Officers Association of the Philippines (TOAP), organized in 1964, is one of the oldest professional associations in the financial industry. TOAP is established primarily with the objectives of uniting, professionalizing and promoting the Philippine Trust and Investment Management Industry.
With member-institutions managing over 500 Billion of total Assets, TOAP has grown to be the biggest association of Investment Professionals with over 220 individual members coming from 47 banks and investment houses. All member-institutions are licensed by the Bangko Sentral ng Pilipinas (‘BSP’) to perform trust, investment management, and other fiduciary functions.
TOAP works in close coordination with the BSP. Prospective regulations and
current issues are discussed to ensure that the industry can progressively
evolve with the best interest of the investing public as its paramount concern.
TOAP is also involved in various symposia and conferences as well as projective
legislation that will promote and encourage and savings and investments and
the development of the Philippine capital market.
Membership Qualifications
Subject to such rules as the TOAP Board of Directors may impose, any financial entity authorized and licensed to engage in the performance of trust functions, and who subscribes to the purposes of the Association and agrees to comply with and be bound by the Association’s By-Laws and other rules and regulations of the Association, is eligible for Institutional membership. Any applicant for membership should preferably be sponsored by two or more institutional members of the Association. In addition to institutional membership, the Association will accept individual membership. Provided that, to qualify for individual membership, an applicant must be sponsored by a member institution and must possess the minimum qualifications as may be prescribed by the Board of Directors from time to time. All applications for membership shall be subject to the Membership Committee’s favorable recommendation and the Board of Director’s final approval. Membership status shall commence only upon final approval by the Board of Directors.
Voting
Each institutional member shall be entitled to one (1) vote to be exercised
through its authorized representative, or its accredited alternate, who in
either case should be an individual member of the Association. All regular
voting representatives or their respective alternate shall have the right
to be elected as members of the Association’s Board of Directors. In
no case however, shall an institutional member have more than one (1) representation
in the Board.
Membership Fees
Each member shall pay, upon admission to the Association and every year thereafter
an annual membership fee, in an amount as may be fixed by the Board. The amount
of membership fee may from time to time be changed by majority vote of the
membership who are entitled to vote. In special cases, members shall be assessed
such other contributions or dues in such amount as may be fixed by the Board
of Directors.
Board of Directors
Number and Tenure - The business, affairs and property of the Association is exercised, conducted and controlled by a Board of Directors consisting of nine (9) members; elected from among the regular or alternate voting representative of each institutional member – serving for a term of one (1) year and/or until their successors are elected and qualified. No Board member may be re-elected for three (3) consecutive terms.
Each institutional member is entitled to one (1) vote to be exercised through its authorized representative, or its accredited alternate, who in either case is an individual member of the Association. All regular voting representatives or their respective alternate has the right to be elected as members of the Association’s Board of Directors. In no case however, can an institutional member have more than one (1) representation in the Board.
COMMITTEES:
Information and Publications Committee. This committee shall be in charge
of disseminating all pertinent information on the Association’s activities,
plans as well as recent events or developments affecting the trust industry
Regulatory and Legal Affairs Committee. - Represents the Association in its
dealings or contacts with government[al] entities, agencies, and offices and
such other entities where the interest of the Association and/or its membership
as well as the trust industry is concerned. This committee provides legal
assistance in the formulation of the Association’s formal position in
respect of issues affecting the Association and the trust industry, as well
as render legal opinions on such other matters as referred to it either by
the Board of Directors or by the Advisory Board.
Membership Committee. - Has for its principal function the screening of all
applicants for membership and the making of recommendations thereof to the
Board. The members of this committee are disqualified from sponsoring or endorsing
applicants for membership. Regulatory and Legal Affairs Committee. - Represents
the Association in its dealings or contacts with government[al] entities,
agencies, and offices and such other entities where the interest of the Association
and/or its membership as well as the trust industry is concerned. This committee
provides legal assistance in the formulation of the Association’s formal
position in respect of issues affecting the Association and the trust industry,
as well as render legal opinions on such other matters as referred to it either
by the Board of Directors or by the Advisory Board.
Finance Committee. - The Treasurer of the Association is the Chairman ex-officio
of the Finance Committee. Responsible for the budget of the Association, and
makes recommendation with respect of the fees, dues and assessments of members
and the salaries or wages of employees of the Association. The Finance Committee
hasl general supervision over the fiscal affairs of the Association and sees
to it that all funds of the Association are duly accounted for and disbursed
for legitimate purposes.
Arbitration and Ethics Committee. - This committee shall take steps and devise
ways and means for the settlement of disputes among members of the Association.
Information and Publications Committee. This committee shall be in charge
of disseminating all pertinent information on the Association’s activities,
plans as well as recent events or developments affecting the trust industry
Special Events Committee. – Principally be in charge of the planning
and coordination requirements of the Association’s annual events, such
as, but not limited to the TOAP Convention and the Trust Consciousness Week.
Ways and Means Committee. – This committee shall be in charge of the
Association’s fund raising activities.
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