Training Objectives

• Describe the objectives & roles of regulation
• Identify the significance of Compliance
• Describe the responsibilities of compliance
• Describe the need for Regulation and its application to an organization
• List the major regulatory requirements deriving from MiFID II, AML, and EMIR
• Identify newly implemented laws for the sector such as the Sustainable Finance Directive & Regulation (SFDR) and the SFTR reporting requirements
• Name and describe the Financial Services Industry regulatory framework
• Name European Union Directives
• Describe upcoming compliance and risk challenges faced by organizations
• Develop a good understanding of compliance principles
• Perform the regulatory requirements for onboarding a client
• Develop the skills to generate a risk-based monitoring schedule
• Defend the concept of Compliance and the efforts being made to manage the risk related to it
• Explain the upcoming regulations and directives emanating from the EU
• Explain the implemented standards coming from international standard setting bodies
• Develop the skills to implement regulatory changes
• Explain the Financial Services Industry regulatory framework
• Explain Regulatory Infrastructure
• Explain European Union Directives
• Defend Professional Ethics
• Defend Professional Integrity
• Motivate the adherence to regulatory requirements and updates
• Appraise the importance of Compliance
• Criticise non-compliance and non-adherence to current regulatory requirements
• Defend the organization’s reputation

Training Outline

The Regulatory Environment and the Role of the Regulator

• An Overview of the Regulatory Environment
• The Objectives of Financial Services Regulation
• International Regulation
• The Role of the Regulators
• What do the Regulators expect?
• An Investment Firm’s roles and responsibilities towards their clients

Compliance and Risk

• Compliance Structure
• The Role of the Board of Directors, the Supervisors, the Internal and External Auditors
• Responsibilities of the Compliance Officer
• Key Compliance Activities and Processes
• Understanding a Risk Management Approach
• Creating a Risk Management Approach
• The Need for Internal Controls

The Regulatory Infrastructure of Cyprus and EU financial services

• CySEC and ESMA regulations and directives
• Regulatory principles
• Statutory objectives
• Structure
• Powers and activities
• The scope of authorisation and regulation
• Support for Regulatory Framework

Regulatory Framework & Reporting Obligations

• Provisions of the Law and CySEC Requirements / Expectations
• Practices that are not compliant with the law according to CySEC
• Marketing Compliance
• EMIR
• CRS / FATCA
• SFDR
• SFTR Reporting
• MiFID II
• MiFIR
• Pillar II
• PRIPS/KID

Compliance and Risk Functions in Practice

• Factors to be Considered in Designing a Compliance System
• Developing an Internal Compliance System
• Implementing and Communicating Internal Compliance Arrangement
• Establishing Policies and Procedures
• Creating a Compliance Monitoring Programme
• The Need for Independence
• Record Keeping / Compliance Reports
• Managing the Regulators and Change in Regulations

Who Should Attend

The programme is ideal for:

• Compliance Officers / Managers and their Deputies
• Managers with responsibility for internal compliance controls
• Legal, Audit, Risk, Operations and IT Specialists
• Risk Managers
• Staff working in risk functions
• Internal & External Audit Staff
• Regulatory Representatives
• AML Officers
• Accountants
• Lawyers

Training Style

The programme is designed to deliver knowledge and enhance participants’ skills via short lectures on the relevant legislations and guidelines, as well as case-studies, practical examples, and real-life simulations/scenarios. Most of the training will focus in enhancing the participants’ knowledge on the topic of risk management and stress testing. Participants will also benefit from customised feedback throughout the course, and take away the knowledge gained to be transferred at their workplace.

CPD Recognition

This programme may be approved for up to 10 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

This training course may be approved as an external activity under the new ACAMS recertification category ”non-ACAMS credits” for up to 10 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS). To read more about the non-ACAMS credits policies and eligibility criteria please click here.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.