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Focus on Investment Firm Regulation & Directive

10 & 11 June 2021 | 9:00 a.m. – 1:00 p.m. | 7 CPD

10 & 11 June 2021 | 9:00 a.m. – 1:00 p.m. | 7 CPD

focus-on-investment-firm

Webinar’s overview

The team of Financial Risk Management Advisors of KPMG in Cyprus, possessing many years of expertise in Capital Adequacy within the financial sector, will provide an introduction into the main provisions of the new prudential framework for Investment Firms, which will apply from 26 June 2021 onwards.

During the seminar, participants will learn how the capital adequacy rules and methodologies, as well as other prudential requirements, will change for CY and EU investment firms, in order to be able to estimate the extent to which such entities are expected to be affected.

More specifically, the training will focus on the key changes introduced by the European Investment Firm Regulation 2019/2033 on the prudential requirements of investment firms (“IFR”) and the European Investment Firm Directive 2019/2034 on the prudential supervision of investment firms (“IFD”).  

Webinar’s goals

By the end of the seminar participants will:

  • Recognise the key differences of the new prudential framework compared to the existing framework.
  • Identify the changes that are expected to affect their organisation the most.
  • Explain how the prudential rules for investment firms change under the new framework.
  • Apply the aforementioned changes to their own capital adequacy calculations.
  • Measure the impact of the anticipated changes on their own organisation
  • Encourage the management and staff of their organisation towards the timely adaptation of their systems and processes, in order to achieve early adoption of the previously mentioned changes
  • Support the key functions within their organisation to better cope with the changes

Participants

Officers serving in a number of functions within regulated investment firms including directors, general managers, CEOs, CFOs, heads of risk management functions and risk officers, accounting and finance control officers, heads of compliance functions and compliance officers, heads of internal audit functions and internal audit officers, officers involved in regulatory reporting, officers involved in proprietary trading functions and information systems officers.

Agenda

Join the webinar (8:30 a.m. - 9:00 a.m.) *

Sessions (9:00 a.m. – 1:00 p.m. including two 15-min breaks between sessions)

1. Introduction (30 min)

  • Background
  • Dates and scope of application

2. Operating requirements (30 min)

  • Initial capital
  • Group capital test

3. Capital Adequacy Ratio & own funds (30 min)

  • Minimum thresholds for CAD Ratio (Capital Adequacy Ratio)
  • Own funds calculation

4. Minimum capital requirements (1hr)

  • Fixed overheads requirement
  • Permanent minimum capital requirement
  • K‐Factor requirement

5. Breaking down the K‐Factor requirement (2hr & 30 min)

  • Risk‐to‐Client (RtC) K‐factors
  • Risk‐to‐Market (RtM) K‐factors
  • Risk‐to‐Firm (RtF) K‐factors

6. Concentration risk (15 min)

  • Limits
  • Exposure value excess and K-CON (Concetration risk)
  • Exclusions

7. Liquidity requirement (15 min)

  • Liquid assets requirements
  • Client guarantees

8. Disclosure, reporting and risk management arrangements (1hr & 30 min)

  • Reporting obligations
  • Disclosure requirements
  • Risk management arrangements  
  • Overview of IFR CoRep (Common Reporting Framework) templates 

*Note: Please join the meeting 30 minutes prior to the webinar’s start time (join at 8:30 a.m.), in order to make sure that you do not face any connection or other technical issues.

Registration

If you wish to register for the webinar please complete the registration form.

Once your registration is submitted, you will receive an email stating the participation fee, including any discounts, if applicable. Kindly note that the payment should be settled at least two days prior to the webinar’s date for your registration to be confirmed.  

The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy. Please note that there are limited seats available therefore enrol in this webinar as soon as possible.

If you do not receive our confirmation e-mail regarding your registration, your participation cannot be guaranteed.

Cost

€270 + VAT. Net investment after subsidy from the HRDA of €119: €202,3 (including VAT) for all eligible participants*

*Last Date for 10% Early Bird Discount:  20/05/2021

 

Discounts available:

  • For more than two (3+) participants from the same company a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for participants who enrol in the same training, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
  • For individuals/legal entities who/which register in more than two (3+) trainings during the same semester (January-June & July-December), a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for individuals/legal entities who/which enrol in more than two (3+) webinars during the same semester, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
  • There is a 10% discount for alumni members. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the early Bird discount and the HRDA subsidy, when applicable.
  • There is a 10% Early bird discount on selected trainings for participants who enrol in a training course until a specific date which is stated above. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the HRDA subsidy, when applicable.
  • HRDA subsidy for all HRDA approved trainings.,

Contact

For any queries, please contact Irini Avraam on +357 22 207 460 or at academy@kpmg.com.cy.

CPD: This webinar may contribute to Continuing Professional Development requirements. Shortly after the webinar’s date, participants will receive electronically a certificate of attendance confirming the total number of training hours (7 CPD).

Trainers

Hadjivarnava Artemis
Principal, Capital Adequacy Lead, Financial Risk Management, KPMG in Cyprus

Artemis is a Principal in the Financial Risk Management department of KPMG in Cyprus and is heading the Capital Adequacy consulting team of the department. Artemis possesses more than 11 years of experience in the financial services advisory field. She has extensive experience in the implementation of various assurance and advisory engagements in investment firms and banks with relation to, among others, Capital Adequacy calculations and seminars, Basel IV impact studies, Consolidated Supervision, ICAAPs, Operational Risk Management Frameworks, Client Assets and Internal Controls.

Artemis has participated in numerous Pillar 1 projects with several investment firms and banks in Cyprus, assisting in the quantification of risks and the calculation of Minimum Capital Requirements. She has also participated in the implementation of a Basel III Pillar 1 calculations engine for two of the largest local banking institutions and performed various Capital Efficiency exercises. 

 

Demetriou Louis
Senior Manager, Financial Risk Management, KPMG in Cyprus

Louis is a Senior Manager in the Financial Risk Management Department of KPMG in Cyprus. He holds a BSc in Computational Mathematics from the University of Reading and an MSc in Financial Risk Management from the ICMA Centre – Henley Business School of the University of Reading. He is also an IFID (International Fixed Income and Derivatives) certificate holder.

Louis has extensive experience in the implementation of various advisory engagements in relation to financial risk management, CRR/CRDIV framework and upcoming CRR II/CRD V, IFR/IFD packages, as well other regulatory compliance framework, with experience spanning across both the investment and banking sector. Furthermore, his experience involves capital adequacy calculations, ICAAPs, ILAAPs, SREPs and overall regulatory compliance.

Moreover, Louis has delivered numerous educational seminars on the CRR/CRDIV and upcoming CRR II/CRD V, IFR/IFD packages.

 

Iacovidou Elena
Manager, Financial Risk Management, KPMG in Cyprus

Elena is a Manager in the Financial Risk Management Department of KPMG in Cyprus. She is a holder of a BSc Mathematics from the University of Bath and an MSc in Financial Risk Management from the Henley Business School of the University of Reading.

Elena has extensive experience in the areas of CRR/CRDIV and upcoming CRR II/CRD V IFR/IFD packages, as well as MiFID I/II, PRIIPs and other regulatory compliance frameworks. She is involved in the execution of multiple advisory projects, with experience spanning across the investment and banking sectors.

Particularly to capital adequacy, she has participated in several Basel III and CRR/CRDIV projects for financial institutions in Cyprus, assisting in the quantification of risks and the calculation of minimum capital requirements. She has been involved in the implementation of CRR calculation engines in the banking sector, performed reviews and audits of Pillar 1 calculations and Pillar 3 disclosures for various investment firms in Cyprus.

Elena has been delivering seminars to financial entities on topics such as capital adequacy (Basel and CRR packages), MiFID II and PRIIPs.

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The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy.

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