In a Members' Update published on 26 August last, the IAPF has confirmed that the Department of Justice, Equality and Law Reform has indicated that the new rules in the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 relating to trusts and company services providers will only apply to corporate or individual trustees whose business it is to provide trustee services on a commercial basis. Further guidance on this in the form of a detailed FAQ is due to be published by the Department.