AIFMD

Register Now

23 Mar 2018 London

Special Festive Offer until 7 Jan £750 + VAT. Regular price £950 + VAT. Group discounts: 10% for 3 people.

Course Description

The AIFMD was introduced as part of a wider regulatory effort undertaken by G20 nations following the global market downturn of 2008. The scope of the AIFMD is broad and, with a few exceptions, covers the management, administration and marketing of alternative investment funds (“AIFs”). Its focus is on regulating the Alternative Investment Fund Manager (“AIFM”) rather than the AIF.

An AIF is a 'collective investment undertaking' that is not subject to the UCITS regime, and includes hedge funds, private equity funds, retail investment funds, investment companies and real estate funds, among others. The AIFMD establishes an EU-wide harmonised framework for monitoring and supervising risks posed by AIFMs and the AIFs they manage, and for strengthening the internal market in alternative funds.   

 
This highly practical 1 day course conducted by a senior fund management practitioner will explore the AIF industry, the components of an AIF structure, distribution and passport  requirements. You will also learn about the registration and authorisation processes for AIFMs and regulatory reporting requirements. Finally, you will have a chance to learn in more detail about the AIFMD legislation and the latest market developments. 

What Will You Learn

By the end of this course you will have a solid understanding of:

  • The key characteristics of AIFs, their structure and objectives
  • The impact of AIFMD on Operators of AIF’s and MiFID Firms
  • Depositary’s liability
  • Marketing opportunities with cross-border passport
  • Challenges for Non-EU AIF’s
  • Reporting requirements 
  • Why there's the perceived need for the AIFMD
  • The AIFMD regulation
  • AIFM distribution and passporting requirements
  • What’s coming next

Main Topics Covered During This Training

  • Introduction to EU AIFMD legislation
  • FCA level 2 impact
  • Asset classes for AIF’s
  • AIF structures
  • Concept of the AIFM (the Operator) and the portfolio manager (Investment Manager)
  • Subsistence requirement 
  • Depositary liability – impact on cost to AIFs
  • The UK regulatory reporting
  • Impact on regulatory capital for AIFM / portfolio manager
  • Non-EU domiciled funds –v- EU domiciled funds
  • Timetable for EU distribution passport
  • What should we expect in the future 

Who Should Attend

The course is relevant for Managers and Team Members from the Asset and Fund Management, Investment Banking, Hedge Funds and Institutional Investors with the following background:

  • Funds Management
  • Investment Management
  • Fund Administration
  • Portfolio Management
  • Structuring
  • Risk Management
  • Lawyers
Register Now

23 Mar 2018 London

Special Festive Offer until 7 Jan £750 + VAT. Regular price £950 + VAT. Group discounts: 10% for 3 people.

AIFMD Training Course Programme

Introduction to EU AIFMD Legislation

  • EU AIFMD Directive
  • Timeline 
  • What are AIFs?
  • Distribution issues of AIFs 

 

Key concepts

  • Concept of the AIFM (the Operator) and the portfolio manager (Investment Manager)
  • UCITS structures for grown-ups
  
Structuring AIFs
 
  • Legal structures

              - UK vs Ireland vs Luxembourg

              - Variable Capital Investment Company

             - Unit Trust / PCF

             - Common Contractual Fund

  • Key differences
  • Sub-Funds / Share Classes
  • Subsidiaries / SPVs
  • AIF Management Company / ACD / Self-Managed Investment Company
 
Asset classes for AIF’s 
 
  • Realty
  • Venture Capital
  • Shares – Concentrated portfolio
  • CIS – Hedge Funds
  • Cash and Lending
 
Setting up AIFs
 
  • The Prospectus
  • Eligible assets
  • Investment restrictions
  • Selecting third parties
  • Interaction with Regulator
  • Documentation List
  • Typical timeline
 
FCA level 2 impact
 
  • COLL
  • SYSC
  • SUP
  • COBS
  • TCF
  • Promotion
  • UK Regulatory Reporting 
 
Subsistence requirements – no “letter box” entities
 
  • Governance
  • Local Directors / Managers
  • Impact on locations
  • Risk Management location
 
Impact on regulatory capital for AIFM / portfolio manager
 
  • New impact for some AIFM
  • Financial Resource calculation
  • Ongoing requirement to maintain capital
 
AIFs Passports and EU Distribution
 
  • Non-EU domiciled funds vs EU domiciled funds
  • Timetable for EU distribution passport
  • Advantages for EU domiciled funds 
 
Depositary liability – impact on cost to AIF
 
  • Delegating custody
  • Eligibility
  • Liability
  • Oversight & monitoring
  • Reuse of assets
  • Insolvency

What should we expect in the future 
 
  • Key Issues
  • Remuneration disclosure
  • Reporting requirements
  • Timescale for distribution changes

 

Q & A Session

Rob is an experienced compliance professional with over 30 years’ experience in UK financial services, primarily in investment and banking related operations, with extensive knowledge of the regulatory environment, rules and requirements in which investment businesses operate in the UK, Ireland, Luxembourg and the Channel Islands.

He is a Fellow of The Association of Chartered Certified Accountants and a Member of The Chartered Institute for Securities & Investment. His previous roles include Managing Director of an online regulatory database, Head of Compliance at a Trustee firm, Compliance Officer and MLRO for a Unit Trust operation and Investment Accountant at a Life Assurance company.

Rob has held varied and substantial senior management positions within compliance, anti-money laundering, investment accounting, taxation and administration areas of the financial services industry, with experience in Third Party Administration, Trustees/Depositaries, Fund Management firms, Life Assurance companies, Banks and Pension Plans.

AIFMD <p>The AIFMD was introduced as part of a wider regulatory effort undertaken by G20 nations following the global market downturn of 2008.&nbsp;The scope of the AIFMD is broad and, with a few exceptions, covers the management, administration and marketing of alternative investment funds (&ldquo;AIFs&rdquo;). Its focus is on regulating the Alternative Investment Fund Manager (&ldquo;AIFM&rdquo;) rath ... 1521763200 London