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AIFMD

OPERATIONAL COMPLIANCE

LONDON

 

13TH DECEMBER  2018

 

About the AIFMD

The Alternative Investment Fund Managers Directive (AIFMD) (2011/61/EU) was introduced into the European Union (EU) on 21st July 2011 and took effect on 22nd July 2013. It sought to create a harmonised regulatory framework for the management and marketing of venture capital, private equity, and other investment funds. The AIFMD sought to provide a set of common rules that govern the authorisation, organisation, and supervision of Alternative Investment Fund Managers (AIFMs) who manage Alternative Investment Funds (AIFs). In addition, it put in place rigorous requirements for AIFMs in order to limit systemic risk, bolster investor protection, and ensure that there were robust internal risk management practices employed by AIFMs. Additionally, the AIFM allowed AIFMs to benefit from a passport to manage, promote, and market AIFs across the EU single market.

About the Training Course

The AIFMD: Operational Compliance Update training course seeks to expertly train attendees on all relevant aspects of the AIFMD regulatory compliance framework. Attendees will be instructed on all key AIFMD requirements, and will also be provided with operational, technological, and strategic perspectives on AIFMD internal compliance frameworks. This will include detailed guidance on AIFMD strategic implications such as the impact of Brexit on AIFMD operations, as well as detailed guidance on the requirements for AIFMD Annex IV Reporting. AFIMDs need to comprehensively understand the new leverage framework and risk exposure calculation methods (commitment, gross), how to calculate Assets Under Management (AUM), and how to source all data required (i.e. investor data, positions data, trading data, liquidity risk data) for reporting purposes.

 
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Key Benefits

· Attendees will be expertly trained in all the most relevant areas covering the AIFMD regulatory compliance framework.

· Attendees will be provided with an examination of the latest EU AIFMD strategic implications.

· Attendees will benefit from a much more in-depth understanding of AIFMD Annex IV Reporting, as well as a comprehensive understanding of the offerings from AIFMD Annex IV Reporting Technology Providers.

· Attendees will benefit from highly comprehensive training course manual, training course supporting materials manual, and four PowerPoint presentations.

 
 

Programme

 

SESSION 1: THE AIFMD REGULATORY FRAMEWORK – PART I

·       AIFM Firms (Hedge Funds, Private Equity Funds, Retail Investment Funds, Investment Firms, Real Estate Funds); Regulated AIFMs (EU AIFMs, non-EU AIFMs); Thresholds (€100 Million; €300 Million); Full Scope AIFMD Authorisation; Exemptions.

·       AIFMD Requirements (Initial Capital, Own Funds); General Operational Conditions.

·       Remuneration; Conflicts of Interest; Risk Management; Liquidity Management; Investment in Securitisation Positions.  

·       AIFM Organisational Requirements (General Principles, Valuation); Delegation of AIFM Functions.

 

SESSION 2: THE AIFMD REGULATORY FRAMEWORK – PART II

·       Depository Functions (Asset Safekeeping, Asset Administration, Fund Operational Control); Depositories (Eligible, Third Country); AIFMD Depository Regimes.

·       AIFM Transparency Requirements (Annual Report, Disclosure to Investors, Competent Authority Reporting), Valuation; Fund Assets; Exposures.

·       AIFs managing Leveraged AIFs; AIFs controlling Non-Listed Companies and Issuers; AIFMD Asset Stripping Rules.

·       AIFM Marketing and Management Rights; Non-EU AIFMs; Third Country Rules.

 

SESSION 3: AIFMD STRATEGIC IMPLICATIONS

·       AIFMD Implementation Challenges (Depositories, Data Management, Risk Management, Liquidity Management, Valuation Rules and Policies, Leverage).

·       Third Country Passport Positive Advice (Canada, Japan, Jersey, Guernsey, Switzerland), Third Country Passport Qualified Assessments (Australia, Hong Kong, Singapore, United States).

·       The AIFMD Landscape, Post-BREXIT (Marketing Passport, Non-EU Passports, National Private Placement Regimes (NPPRs), Analysis of EU Member State NPPRs).

·       A Review of Alternative UK Jurisdictions (Dublin, Luxembourg, Adequate Substance, Minimum Capital), Strategic Review of Third Party Management Firms.

 

SESSION 4: AIFMD ANNEX REPORTING AND REPORTING TECHNOLOGIES

·       AIFMD Annex IV Reporting (Operational Information, Stress Tests, Guarantees, Concentrations; Counterparty Exposures); Investor Statements (Quarterly, Annually).

·       European Securities and Markets Authority (ESMA) AIFMD Reporting Guidelines.

·       Reporting Workflows; Mapping; Testing; Validation Procedures; Static Data; Dynamic Data; Qualitative Business Information; Investment Strategies (Codes, Flags, Net Asset Value (NAV)).

·       A Review of Outsourced AIFMD Annex IV Reporting Technology Providers.


Expert Trainer

 

Rodrigo Zepeda is Co-Founder and Managing Director of Storm-7 Consulting. He is an expert consultant who specialises in derivatives and banking and financial services law, regulation, and compliance. He is an expert in a very broad range of regulatory compliance frameworks such as FATCA, the OECD CRS, MiFID II, MAD 2 MAR, PSD2, CRD IV, Solvency II, OTC Derivatives, CCP Clearing, PRIIPs, BRRD, AML4, and the GDPR. He holds a LLB degree, a LLM Masters degree in International and Comparative Business Law, and has passed the New York Bar Examination. He was an Associate (ACSI) of the Chartered Institute for Securities & Investment from 2004 to 2014 and is now a Chartered Member (MCSI). He has created and delivered numerous conferences and training courses around the world such as 'FATCA for Latin American Firms' (Santo Domingo, Dominican Republic, Panama City, Panama), 'MiFID II: Regulatory, Risk, and Compliance (London), and 'Market Abuse: Operational Compliance' (London), 'AEOI (FATCA & CRS)' (Manama, Bahrain). He has also delivered numerous In-House Training Courses around the world to major international financial institutions such as The Abu Dhabi Investment Authority (MiFID II: Operational Compliance, Abu Dhabi, the United Arab Emirates), the United Nations Principles of Responsible Investment (MiFID II: Final Review, London), CAF, the Development Bank of Latin America (Swaps and Over-the-counter Derivatives, Lima, Peru), Rothschild Investment Management (UK) Limited (AEOI (FATCA & CRS), London) and Bethmann Bank AG (MAD 2 MAR, Frankfurt). He is a Reviewer for the Journal of Financial Regulation and Compliance and has also published widely in leading industry journals such as the Capco Institute's Journal of Financial Transformation, the Journal of International Banking Law and Regulation, as well as e-books on derivatives law. Noted publications include "Optimizing Risk Allocation for CCPs under the European Market Infrastructure Regulation"; "The ISDA Master Agreement 2012: A Missed Opportunity"; "The ISDA Master Agreement: The Derivatives Risk Management Tool of the 21st Century?"; "To EU, or not to EU: that is the AIFMD question"; and "The Industrialization Blueprint: Re-Engineering the Future of Banking and Financial Services?".

 
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Who is the course suitable for?

 

·       Compliance Analysts.

·       Compliance Officers.

·       Front Office Professionals.

·       Heads of Compliance.

·       Heads of Risk.

·       Hedge Fund Professionals.

·       Investment Fund Professionals.

·       Private Equity Professionals.

·       Regulatory Analysts.

·       Retail Investment Fund Professionals.

·       Risk Officers.

·       Venture Capital Professionals.