Participants will receive access to the recorded sessions of the course.
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To this date, the Fund Administration Services in Cyprus are not per se regulated by the domestic legal framework, as opposed to other EU jurisdictions or even non-EU countries, which provide a legal framework for the authorisation and operation of Fund Administrators.
As Cyprus’ fund industry is now growing at an admirably fast pace, it is now anticipated that the Investment Fund Administration (IFA) regulatory framework is imminent.
This will reflect the fact that many fund managers prefer to focus on core investment functions (such as portfolio management and risk management) and outsource administrative services to third parties.
Gaining the respective knowledge, the Fund administrators will be able to perform their duties as well as to provide proper information, protecting investor interests in the context of the operational discharge of the delegated Fund Administration tasks and guidance for the Licensed Fund Administrator.
Also, it will increase investor trust in the Cyprus fund services as regulation and supervision will enhance both the quality of those services and the overall transparency in the investment sector. Investors will be able to choose more confidently knowing that all the service providers of a fund are under close monitoring by the competent authority. Another reason is, of course, to bring Cyprus in line with other jurisdictions that have already introduced similar legislation, thus rendering Cyprus as a major competitor in the funds industry.
Training Objectives
By the end of the programme, participants will:
- Explain the legal developments in the Cyprus Fund industry, their historical context, and their impact on the current landscape.
- Describe the various types of funds, their legal forms, and the basic characteristics of Alternative Investment Funds (AIFs).
- Describe the key components of the Cyprus Fund market
- Name the characteristics and importance of the function of fund administration
- Describe the regulations governing the fund industry
- Name the reporting and documentation requirements for fund administrators
- Develop strategies for investor protection and master service level agreements in the fund industry.
- Explain the responsibilities and duties of fund administrators, emphasising their role in investor protection
- Explain the rationale for subjecting Fund Administrators to uniform authorisation and ongoing operating requirements,
- Show the compliance of the Fund Manager with its obligations under applicable legislation
- Explain the compliance and reporting practices of fund administrators
Training Outline
An Introduction to Cyprus Funds
- Overview of Cyprus Fund Market
- Legal Developments Timeline
- Statistics on the Cyprus Fund Market
Types of Funds and Legal Framework
- Various Types of Funds
- Legal Form and Structure
- Basic Characteristics of AIF Funds
- Management Types: Externally Managed vs. Self-Managed
- The ‘Mini Manager’ and Registered AIF (RAIF)
Fund Industry Regulation
- Regulatory Framework (AIFMD, UCITSD, AIF Law, AIFLNP, AIFM Law, CIFs Law, ASP Law, FATCA, CRS)
- Entities Operating as Fund Administrators in Cyprus (Regulated and Unregulated)
- Non-Cyprus UCIs with Cypriot Fund Administrators
The Role of Licensed Fund Administrators
- Responsibilities and Duties of Fund Administrators
- Investor Protection and Master Service Level Agreements
- Investment and Marketing Strategies
- Industry Best Practices in Fund Administration
Fund Administrator Compliance and Reporting
- AML and KYC Compliance
- Reporting and Documentation Requirements
- The Role of Compliance Officers
- Regulatory Reporting and Investor Documentation
- Cross-Border Compliance Challenges
Case Studies in Regulatory Compliance
Upcoming Legal Developments
Future Regulatory Changes in Fund Administration
Who Should Attend
- Senior Management and Executives
- Compliance Officers
- Internal Auditors
- Fund Managers
- Fund Administrators
- Risk Managers
- Professionals working in the Financial Industry
- Legal and Regulatory Professionals
- Government Regulators and Inspectors
- Consultants and Advisors
- Financial advisors
- Policymakers and Regulators
- Investor Relations and Client Advisors
- Financial Analysts and Auditors
Training Style
Through an illustrated presentation a detailed account will be provided along with questions and answers throughout the workshop. Real time examples will be provided, and participants will be actively involved through an exchange of views and personal professional experiences.
CPD Recognition
This programme may be approved for up to 10 CPD units in Financial Regulation and AML. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.