Training Objectives

During this seminar participants will attain an understanding of:

• The basic notions around investment funds
• The common things and differences between UCITS and AIFs
• The available structures
• The basic legal requirements
• The ways that funds operate

Training Outline

• What is a UCITS fund
• When did they start, historical background
• Rulebook, prospectus and other documents of the funds
• Units
• Management companies
• European passport and freedom in services provision
• Permitted investments
• What is the custodian and why it is important to the investors
• Existing legal framework
• Directive UCITS IV & V
• Law 78 (I) 2012
• The 5th AML Directive: the core goals and what to expect
• First thoughts of the 6^th Directive
• Basic provisions of the UCITS law
• AML rules for UCITS
• Other issues
• General characteristics of AIFs
• Authorization of an AIF
• Common rules for the organization and functioning of AIFs
• AIF external manager
• AIF custodian
• Subscription and redemptions of AIF units
• Special provisions
• Obligations for investors information
• Mergers
• Distribution of foreign AIF units in Cyprus
• Listed AIFs
• Regulatory environment
• AIF with limited number of persons
• Registered AIFs
• Authorization of AIFMs
• Operating Conditions for AIFMs
• General requirements for AIFMs
• Organizational requirements for AIFMs
• Delegation of AIFM functions for AIFMs
• AIF depositary
• AIFMs managing special types of AIF
• Rights of AIMFs to manage and market EU AIFs in the Union
• Specific rules in relation to third countries
• Marketing of units of AIFs to retail investors in the Republic
• Supervision rules

Who Should Attend

People working as Fund Managers, Fund Administrators and other Professionals who need to update or refresh their knowledge on Mutual Funds including Lawyers, Accounting Firms and Corporate Service Providers, that need to understand the funds industry.

Training Style

The training style will include the presentation of all the material using slides and handouts.  The trainer will use practical examples to elaborate various concepts and encourage class discussion.  Participants will engage in an exchange of ideas and sharing of knowledge on the subject matter.  Participants will also be able to ask questions and obtain clarifications from the trainer on all the material covered.

CPD Recognition

This programme may be approved for up to 5 CPD units in Financial Regulation. 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.