IN-HOUSE TRAINING PROGRAMME
The new Packaged Retail and Insurance-Based Investment Products (PRIIPs) Regulation (No 1286/2014) introduces a new framework for manufacturers, distributors, and financialintermediaries who issue and sell PRIIPs to Retail Client investors. This operational compliance training course will provide attendees with a strong and comprehensive understanding of the new PRIIPs framework and regulatory requirements. It will instruct attendees in what is required for PRIIPs operational compliance, and will guide them on populating individual Key Information Documents (KIDs) for different financial product lines through the analysis of newly designed KID product templates. The course will also review areas of hot debate (e.g. fund past performance information and insurance product categorisation and calculation of transaction costs), that have recently led to the European Parliament's rejection of draft legislation.
MODULE 1: The PRIIPs Regulatory Framework
■ PRIIP Objectives, PRIIP and KID Obligations; Administrative Sanctions and Measures.
■ Exclusions (Non-life Insurance; General Insurance; Non-Structured Deposits; Non-Pension Annuities; Pension Products; Institutional Investor Investment Funds; Directly Held Corporate Shares and Bonds), Transitional Arrangements (UCITS Schemes).
■ EIOPA and Member State Competent Authority (MSCA) Monitoring and Product Intervention Powers, Complaints, Redress, Cooperation, Regulatory Supervision.
MODULE 2: The Key Information Document (KID)
■ KID Application; KID Cessation (Closed Business Books; Redemption Only Products; Personalisation; Variation); KID Form and Content; Summary Risk Indicator (SRI).
■ Technical Analysis of Performance (Performance Scenarios; Recommended holding period; Intermediate Period) and Costs (Costs over time; Composition of Costs; Disclosed Costs).
■ Technical Analysis of Risk (Market Risk Measure (MRM); Risk Indicator; Performance Scenarios).
■ Technical Analysis of Credit Risk (Credit Risk Measure (CRM); Credit Risk Assessment Methodology; Credit Assessment of Obligors).
MODULE 3: KID Product Template Population and Risk Analysis
Review of new KID Product Templates and Product-Tailored Risk Analysis for:
■ KID (Collective Investment Scheme).
■ KID (Life Insurance-Based Investment Product).
■ KID (Market-exposed Structured Security).
■ KID (Market-exposed Structured Term Deposit).
MODULE 4: PRIIPs Operational Compliance
■ Packaged Retail Investment Product Review; Insurance-Based Investment Product Review.
■ Pre-contractual Product Disclosures (Common Disclosure Framework; Specialist Framework).
■ Multiple Option Products (Formats; Underlying Information; Non-Look-ThroughRequirements).
■ Selling Practices and Retail Client Areas of Concern (Capital Guarantees; Performance Scenarios; Exact Cost Figures; Cost Figure Comprehension).
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, United Kingdom (UK)), and ‘Market Abuse: Operational Compliance’ (London, UK). 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, UK), and CAF, the Development Bank of Latin America (Swaps and Over-the-counter Derivatives, Lima, Peru). 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?”.
COURSE SUITABLE FOR
■ Banking and Finance Professionals.
■ Business Analysts.
■ Compliance Officers.
■ Heads of Compliance.
■ Heads of Operations.
■ Heads of Regulatory Change.
■ Heads of Risk.
■ IBIP Distributors.
■ IBIP Financial Intermediaries.
■ IBIP Manufacturers.
■ Insurance Professionals.
■ PRIP Distributors.
■ PRIP Financial Intermediaries.
■ PRIP Manufacturers.
■ Regulatory Change Officers.
■ Treasury Analysts.
WHAT ARE THE KEY BENEFITS?
■ Comprehensive Training Course Materials (Manual; Materials; Definitions Booklet; PowerPoint Presentations; 4 Different Product Populated KID Templates; A3 PRIIP Overview Chart).
■ Covers all the areas that attendees need to understand in order to be fully PRIIP compliant.
■ Provides a unique blend of legal, financial, operational, and strategic insight into the new PRIIPs regulatory framework.