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Eureka Financial launches Corporate Governance Summer School Dubai 2015

Posted on by aldopuch

Eureka Financial launches another edition of a very popular Corporate Governance programme. Corporate Governance Summer School 2015 will take place on 25-26 of August in Dubai and is open to all senior professionals from the region and beyond, who are interested in boosting corporate governance standards in their organisations and learn about the best world’s practices.

“Over the past few years we have seen a significant increase of interest in corporate governance practices from firms not only in the region but also in Africa and Asia. Local companies are very interested in learning about regulations, setting up effective frameworks and implementing best practices in their organisations.” says Aldona Puchalska, Director of Eureka Financial Limited.

Corporate Governance Training

A good corporate governance system puts the right policies in place and helps set up a solid organisational structure that clarifies roles, reporting and delegation of responsibility. What is also important, it enhances company’s reputation and makes it much more attractive to its investors, suppliers and customers, as well as helps preventing corporate scandals, fraud and potential civil and criminal liability in an organisation.

Eureka Financial has developed a practical programme, which gives an overview of current regulatory solutions and analyses the best practices across different sectors, both in the GCC region as well as around the globe.

“We have also developed an assessment tool allowing companies to review their current practices and identify both, the strong and weaker points, which require further enhancements and structural or organizational changes. We have conducted many assessments in the region and beyond which have proved to be very effective for companies that we worked with.”, says Aldona Puchalska.

Places are filling fast, so get in touch if you want to get on the programme.

If you want to find out more about the course visit ‘Corporate Governance Summer School 2015’ website or contact Eureka Financial on enquiry@eurekafinancial.com or +44 (0) 207 993 8597.

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Eureka Financial Limited is a provider of professional financial and business management training solutions to companies around the world. We offer over 100 programmes in banking, finance, wealth management, risk and compliance as well as business management and soft skills. All our trainers have over 20 years of practical international experience in their respective subjects.

To find out more visit: www.eurekafinancial.com

Posted in Corporate Governance, Leadership, Training Dubai, UAE | Tagged , , , | Leave a comment

Toshiba scandal and Japan’s corporate governance code

Posted on by aldopuch

By: The Guardian, 21 Jul 2015

The similarities between the Toshiba case and that of Olympus has not gone unnoticed in Japan as The Guardian writes.

The Toshiba accounting scandal comes just six weeks after the introduction of a corporate governance code in Japan that was meant to pave the way to a more open dialogue between companies and shareholders.

Toshiba overstated its operating profits by 151.8bn yen (£780m) over several years in accounting irregularities involving its top management, independent investigators said on Monday. On Tuesday, the president, vice-chairman and adviser quit.

Corporate Governance Practices in Japan

Corporate Governance Practices in Japan

“The scandal is definitely is a big hit for the Abe regime and Abenomics, since reformed corporate governance is a key element of Japan’s growth strategy,” said Andrew DeWit, professor in the school of policy studies at Tokyo’s Rikkyo University. (…)

Japanese companies have had a history of difficult relationships with their shareholders. An ACCA and KPMG Singapore corporate governance report released in November 2014 ranked Japan 21st of 25 countries surveyed, behind the Philippines, Indonesia, Cambodia and China.

To read the full story go to The Guardian

Posted in Corporate Governance, Leadership | Leave a comment

Exploring GATCA – The Global FATCA

Posted on by aldopuch

By: Treasury Insider

Last month, the Foreign Account Tax Compliance Act (FACTA) came into effect, forcing overseas banks that accept US payments to disclose account information to the IRS or face 30% withholding tax. The OECD has now introduced Automatic Exchange of Information (AEOI) guidelines to help countries standardise these rules for non-US transactions.

 

Nicknamed “GATCA”, the 300 pages of guidelines are essentially a globalised version of FATCA, issued in response to calls from other countries that wanted a way of exchanging FACTA-style information between themselves. 65 countries and independent jurisdictions have now said that they will adopt the practice, with 40 of these signing up to be early adaptors.

There are, though, some significant differences between the two approaches. Firstly, because it is not geared predominantly towards benefitting one country (as FATCA is) GATCA is fully reciprocal, and is based on the residency of the account holder, rather than their citizenship. Whereas the terms and scope of FATCA had to be laboriously re-negotiated with individual countries, GATCA will be standardised, without allowing for country-specific exemptions. In many ways, GATCA is more straightforward than FATCA.   (…)

To read more go to: Treasury Insider

If you want to learn more about FATCA regulations and requirements attend Eureka Financial training session in London

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Eureka Financial offers over 100 public and in-house training courses in banking and finance, asset management, corporate finance and M&A, compliance, risk management,  investments, wealth management, soft skills and more. For more details visit: www.eurekafinancial.com

Posted in Banking Operations, Banking Regulations, FATCA, Regulation, Training London | Tagged , | Leave a comment

Best Practices in Corporate Governance

Posted on by aldopuch

Boards are essential for making sure that shareholders are able to properly hold the management team to account. Getting the boardroom dynamics right is the key to success.

Is your board well structured? What kind of person should you take on as a chairman, and do you need non-executive directors? What is the role and competencies of independent directors? How big should the board be and what should board meetings be used for?

All those and many other questions will be answered during a 2 day intensive Corporate Governance course in Dubai. So why not join us and explore current best practices in corporate governance?

Corporate Governance Training– Dubai

This practical 2 day course provides participants with an overview of the regulation and principles behind good corporate governance framework. You will explore the relationship between management, finance, law and ethics and learn to effectively administer corporate relations and to contribute to corporate performance at a senior level within your organisation.

The programme includes many case studies from around the world, exploring the best current practices and standards. For more information and course programme go to our website.

Reserve your place now

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Eureka Financial offers over 100 public and in-house training courses in banking and finance, asset management, corporate finance and M&A, compliance, risk management,  investments, wealth management, soft skills and more. For more details visit: www.eurekafinancial.com

Posted in Business Management, Corporate Governance, Leadership, Operational Risk Management, Training Dubai, Training London | Tagged , , | Leave a comment

The real cost of FATCA implementation

Posted on by aldopuch

By: International Adviser

FATCA was implemented worldwide at the beginning of this month, but the impact (and costs) are only now just beginning to filter through to the financial services community. (…)
The UK Government estimates it will cost UK financial institutions up to £1.6bn to implement FATCA in this country, with ongoing costs of up to £90m per year. But, as far as wealth managers are concerned, this is more than just about spending money. (…)

Andy Thompson, director of operations at the Wealth Management Association, stresses that understanding the purpose of FATCA and what is required is difficult, particularly for small firms.

“While the registration process is relatively straightforward, the due diligence for all pre-existing accounts and every new account is a huge undertaking for any firm, big or small as is the amount of information that will have to be reported for relevant accounts,” he says.

If you want to learn more about FATCA attend a 1 day practical workshop in London which will help you to understand the requirements and implications. 

To read more go to: International Adviser

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Eureka Financial offers over 100 public and in-house training courses in banking and finance, asset management, corporate finance and M&A, compliance, risk management,  investments, wealth management, soft skills and more. For more details visit: www.eurekafinancial.com

Posted in Banking Regulations, FATCA, Financial Markets, Payments, Private Banking, Regulation, Wealth Management | Tagged , , , , | Leave a comment

Are you ready for FATCA?

Posted on by aldopuch

 

FATCA came into effect on 1st of July requiring foreign banks to report their offshore accounts. To facilitate an orderly transition the United States IRS will refrain from rigorously enforcing many of the requirements during 2014 & 2015, as long as foreign financial institutions (FFIs) are making a good-faith effort to achieve compliance.

This partial relaxation gives you and your organisation a short window to come up-to-speed with the complexities of FATCA.

Why don’t you join our one day intensive course which will help you get fully prepared for FATCA implementation in your organisation.

FATCA Compliance Training – London

This practical 1-day course will provide participants with a sound understanding of FATCA. The programme gives an overview of the technical requirements and implementation strategies as well as the detailed analysis of all the necessary internal controls and certification considerations.

For more information and course programme go to our website.

Reserve your place now

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Eureka Financial offers over 100 public and in-house training courses in banking and finance, asset management, corporate finance and M&A, compliance, risk management,  investments, wealth management, soft skills and more. For more details visit: www.eurekafinancial.com

Posted in Banking Operations, Banking Regulations, FATCA, Operational Risk Management, Payments, Private Banking, Regulation, Training London, Wealth Management | Tagged , , , , , , | Leave a comment

Operational Risk recognised as the most important risk by financial institutions

Posted on by aldopuch

By: MartketWatch.com

Chartis nominated SAS OpRisk system as the leader in the market for Operational Risk Management. Payman Mestchian, Managing Partner at Chartis says that their research suggests that “operational risk is now recognized as the most important risk by financial institutions. Also the scope of coverage for operational risk management processes and systems is increasing,”. “The SAS capabilities go beyond the traditional oprisk space covering such requirements as model risk, financial crimes, enterprise governance and compliance as part of a unified technology environment and was a key factor in our RiskTech Quadrant analysis.”

Operational risk requirements, cost and complexity pressures are pushing the trend to consolidate into enterprise operational risk platforms, says Chartis. Needing stronger links between operational risk, GRC, financial crime and enterprise risk management and other risk-related activities, buyers increasingly look to advanced analytics. The report highlighted the big data analytics in SAS® Visual Analytics, which addresses the need for varied analytical methodologies.

To read more go to: MarketWatch.com

If you are interested in learning about the latest trends in Managing Operational Risk attend a 2 day course in London.

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Eureka Financial offers over 100 public and in-house training courses in banking and finance, asset management, corporate finance and M&A, compliance, risk management,  investments, wealth management, soft skills and more. For more details visit: www.eurekafinancial.com

Posted in Banking Operations, Banking technology, Operational Risk Management, Risk Management | Tagged , | Leave a comment

New buying patterns amongst the Middle Eastern HNWIs

Posted on by aldopuch

By: AMEInfo

The Middle East luxury industry is witnessing a shift in buying patterns of ultra-high-net-worth individuals (UHNWIs), says Erwin Bamps, chief operating officer at Gulf Craft, while speaking the arab luxury world conference that took place in the first week of June.

UHNWIs are looking for bespoke experiences, but in a family oriented context, in that they want to switch off and connect with loved ones in the most discreet way possible. This change in behaviour totally redefines the concept of luxury.

“The concept of luxury has evolved from a show-off lifestyle to a more discreet and humble one; people want to enjoy the result of their hard work, but away from the public,” adds Tine Arentsen Willumsen, CEO of Above and Beyond.

Regional UHNWIs are now more and more interested in arts. With Abu Dhabi positioning itself as the art hub of the UAE, the demand for objets d’art is growing. Sarah Aziz from auction house Christie’s says art is a very important feature of the Arab culture; historically, rulers always sponsored artists and, today, this passion for art is represented by a new generation of customers that is interested in our collections.

“To convince UHNWIs to purchase luxury items or services, brands have to be creative and go the extra mile to satisfy these customers that have everything,” concludes Willumsen.

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If you are interested in learning about trends in wealth management and how to manage family office and wealth you can attend one of Eureka Financial courses: 

 

Eureka Financial offers over 100 public and in-house training courses in banking and finance, asset management, corporate finance and M&A, compliance, risk management,  investments, wealth management, soft skills and more. For more details visit: www.eurekafinancial.com

Posted in Family Office, Private Banking, Training Dubai, Training London, UAE, Wealth Management | Tagged , , | Leave a comment

Main Trends in Collateral Management

Posted on by aldopuch

By: Securities Lending Times

According to the new survey conducted by Sapient Global Markets in March, evolution towards the front office has been identified as one of the main trends for efficient collateral management across global market participants.

The research also identifies the efficiency gains required to deliver increased automation and the support systems needed as being important.

 

While 66 percent of the firms polled still view collateral management as a cost centre, 39 percent plan to make collateral a profit centre and use it to generate additional revenue.

According to the survey, the increasing focus on collateral as an additional revenue stream is prompting a migration of optimisation functions to the front office.

This will require significant changes to established processes and systems to enable firms to manage margin and risk calculations within compressed timeframes across all available collateral inventory pools.

The survey also states that cost efficiency is one of the main drivers of change in collateral management, requiring more effective client communication, responses to margin calls, dispute management and settlement of non-cash collateral. (…)

To read more go to: www.SecuritiesLendingTimes.com

Upcoming programmes: International Securities Settlements & Custodial Services, EMIR, Repo Market, Operational Risk Management and more. 

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Eureka Financial offers over 100 public and in-house training courses in banking and finance, asset management, corporate finance and M&A, compliance, risk management,  investments, wealth management, soft skills and more. For more details visit: www.eurekafinancial.com

Posted in Banking Operations, Banking technology, Custodial Services, Financial Markets, Hedge Funds, Operational Risk Management, Securities Settlement, Trading, transaction banking | Tagged , , , , , , | Leave a comment

The evolving position of the Investment Performance Measurement

Posted on by aldopuch

By: Bill Humphreys

The role and position of Performance Measurement in the Asset Management

In many asset management businesses Performance Measurement (and attribution) has been hidden in the middle or back office departments and isolated from the investment process itself. Some asset managers rationalize this by saying that the function needs to be totally independent and they treat it like a quasi compliance or internal audit function.

 

This approach now seems to be outdated and an increasing number of asset managers recognize that performance measurement is an integral part of the investment decision-making process. In fact, you could argue that it is the most important part of the process in that it measures the effectiveness of the investment decision-making process, and it is the basis of the reporting and communication between the owners of the capital and those entrusted to manage it on their behalf. For those who embrace it successfully it not only measures the effectiveness of past performance but also forms the basis for future decision-making and is an essential element in the risk management disciplines.

Impact of GIPS on Performance Measurement

There is no doubt that the importance of the Performance Measurement function has grown in recent years and this trend is likely to continue. With the emergence of Global Investment Performance Standards (GIP’s) more and more asset managers are recognising the need to strengthen this function.

If this an area of interest for you why not join our Performance Measurement and Attribution course in London which explores all aspects of performance measurement including the calculation of returns, impact of different benchmarks and adjusting performance for risk taken. Through the analysis of the best current industry practice you will also learn how to set up, maintain and improve performance measurement systems within your organisation.

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Eureka Financial offers over 100 public and in-house training courses in banking and finance, asset management, corporate finance and M&A, compliance, risk management,  investments, wealth management, soft skills and more. For more details visit: www.eurekafinancial.com

Posted in Fund Management, Investment Performance Measurement, Investments, Portfolio Management, Private Banking, Training London | Tagged , , | Leave a comment
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