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13 Jul Directors and Officers Insurance: Professional Indemnity, Liability and Cyber Risks

Posted at 09:29h by Admeimf

22 Mar Symposium on the Roles of the Board of Directors of Investment Firms

Posted at 12:04h in Blog, News | Events, Press Releases by Admeimf

Roles, responsibilities, and liabilities for directors of registered Cyprus Investment firms The EIMF is organising a half-day symposium addressed to Executive and Non-Executive members of the BoD of CIFs, Compliance Officers, and Risk Managers, that will take place in Crowne Plaza on the 7th of...

27 Feb Conducting Lawful and Effective Company Board of Directors’ Meetings

Posted at 13:27h by Admeimf

The EIMF Live Online Learning Experience Participants will receive access to the recorded sessions of the course.

EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more

Course Overview

Conducting a Board Meeting can often be challenging, and this programme seeks to examine specific areas pertaining to the Board meeting, specifically, the manner of giving notice, conduct of a board meeting and some of the issues that can arise at a board meeting.

Problems for the Chair and the directors can arise at any stage during the calling or conduct of board meetings. The problems can often be of a contentious nature. This program is seeking to set out some principles of general application that may typically apply to every Cyprus Company regarding the preparation and conduct of its board meetings. It is the obligation of the directors to insist that meetings of directors are conducted in an organized and efficient manner in adherence to the principles of rules of order. It is the duty of the Chair to ensure that such principles are enforced. Finally, this program aspires to suggest some strategies to try and deal with contentious issues that may arise at any stage.

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Training Objectives

At the end of the programme participants will be able:

To understand the difficulties that arise for companies in Cyprus which lack a formal process
To understand the issue of board composition, diversity and skills
To understand the issue of Risk oversight and Governance
To understand the issue of Adequate information and technology governance
To understand the issue of Compliance monitoring
To understand the issue of Adequate Remuneration Governance
To understand the issue of Adequate stakeholder communication
To determine the legal and regulatory requirements that companies have to comply with and the penalties for noncompliance.
To assess the application of the business judgement rule to protect directors from liability to the company
To promote the principles of corporate governance and recommendations in terms of the prevailing law

Training Outline

Introduction to Meetings of the Board Calling Meetings of the Board

By-law requirements
Who to send notice to?
Length of Notice
Authority to Call Meetings
Calling the Meeting to be Bona Fide
Form of Notice
Failure to Comply with Notice Requirements

Conduct of a Director’s Meeting

Chair - who is entitled to chair meetings?
Can directors move to replace the Chair of the meeting?
Role of the Chair
Who is entitled to attend?
Quorum Issues
Voting By Directors
Motions - do they require a seconder?
Debate
Casting Vote
Whether an abstention is considered to be a vote against the resolution
Method of Voting
Nominee Directors
Appeals from Decisions of the Chair
How to deal with the difficult Director
Codes of Conduct
What is the ultimate sanction for the incorrigible Director?
Duty to Prepare for Meetings
Conflicts of Interest
The Independence of Directors
Minutes of Meetings
Notes of Meetings

Board Committee Meetings

Who should attend

The programme is suitable for:

Company Directors
Board Chairs
Senior Management
Corporate Secretaries
Compliance Officers
Governance Professionals
Internal Auditors
Internal Lawyers

Training Style

The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations. Most of the training’s time will be invested in analysing a real-life case study that will help participants understand how to solve problems in similar occasions

CPD Recognition

This programme may be approved for up to 7 CPD units in Law. 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.

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Training Objectives

At the end of the programme participants will be able:

To understand the difficulties that arise for companies in Cyprus which lack a formal process
To understand the issue of board composition, diversity and skills
To understand the issue of Risk oversight and Governance
To understand the issue of Adequate information and technology governance
To understand the issue of Compliance monitoring
To understand the issue of Adequate Remuneration Governance
To understand the issue of Adequate stakeholder communication
To determine the legal and regulatory requirements that companies have to comply with and the penalties for noncompliance.
To assess the application of the business judgement rule to protect directors from liability to the company
To promote the principles of corporate governance and recommendations in terms of the prevailing law

Training Outline

Introduction to Meetings of the Board Calling Meetings of the Board

By-law requirements
Who to send notice to?
Length of Notice
Authority to Call Meetings
Calling the Meeting to be Bona Fide
Form of Notice
Failure to Comply with Notice Requirements

Conduct of a Director’s Meeting

Chair - who is entitled to chair meetings?
Can directors move to replace the Chair of the meeting?
Role of the Chair
Who is entitled to attend?
Quorum Issues
Voting By Directors
Motions - do they require a seconder?
Debate
Casting Vote
Whether an abstention is considered to be a vote against the resolution
Method of Voting
Nominee Directors
Appeals from Decisions of the Chair
How to deal with the difficult Director
Codes of Conduct
What is the ultimate sanction for the incorrigible Director?
Duty to Prepare for Meetings
Conflicts of Interest
The Independence of Directors
Minutes of Meetings
Notes of Meetings

Board Committee Meetings

Who should attend

The programme is suitable for:

Company Directors
Board Chairs
Senior Management
Corporate Secretaries
Compliance Officers
Governance Professionals
Internal Auditors
Internal Lawyers

Training Style

CPD Recognition

This programme may be approved for up to 7 CPD units in Law. 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.

27 Feb Obligations of Directors Under Cyprus Company Law

Posted at 12:39h by Admeimf

The EIMF Live Online Learning Experience

EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more

Course Overview

Directors in Cyprus Tax resident Companies have specific duties and liabilities which need to be adhered to.

Directors are obliged to carry out the duties established by Cyprus law and by Companies by-laws (Ss. 171-197 Cap 113) with the appropriate duty of care depending on the kind of task and on their specific skills and competences.

More important problems are related to issues such as avoidance of conflict of interest, the ambiguous provisions and the lack of the limitation mechanism of directors’ liability. In that regard directors are jointly and severally liable to the company for damages caused by the failure to comply with their duties.

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Training Objectives

At the end of the programme participants will be able to:

Understand the extent to which a director owes duties to the company itself, its shareholders, its creditors, as well as the community at large under Cyprus law and the liabilities that may arise when these duties are violated
Make a comparative evaluation of the duties at common law and in statute.
Assess to what extent company directors are liable under Cyprus companies’ laws
Understand remedies to the aggrieved parties
Examine concrete practical cases related to such a liability

Training Outline

General Considerations on Liability of Directors

Overview on company directors
Notions on company directors
Types of directors
Rights and power of Directors
Appointment of directors
Remuneration and other benefits for directors
Notions on liability of directors
Definition of liability
Types of liabilities
Notions on limited company
Definition of limited company
Types of liability limitation

Analysis of the Role and Liability of Directors

The duties of company directors
Duties and obligations of company directors under Cyprus companies’ laws
Nature and the basis of director’s duties
Fiduciary duties of directors
Directors’ duty and corporate responsibility
Duty of directors in implementing the policies of the company and protecting the interests of the shareholders
Duty of the directors in the daily management of the company
Analysis of liability of directors
Liabilities of company directors in case of breach of duty
Administrative Liabilities directors
Civil liabilities of company directors
General conditions of civil Liability
Special conditions of civil liability
Criminal liability
Solution proposed de lege ferenda on limitation of directors’ liability

General Conclusions

Who should attend

The programme is suitable for:

Company Directors
Board Chairs
Senior Management
Corporate Secretaries
Compliance Officers
Governance Professionals
Investors and Shareholders
Internal Auditors
Internal Lawyers

Training Style

The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations. Some of the training time will be invested in analysing a real-life case study that will help participants to further understand the topic.

CPD Recognition

This programme may be approved for up to 7 CPD units in Law. 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.

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10 Oct Successful launch of the EIMF Directors Development Programme

Posted at 14:58h in Blog, News | Events, Press Releases by Admeimf

The inaugural EIMF Directors Development Programme has come to a great and successful conclusion, leading the way to its establishment as the utmost prestigious Directors Programme in Cyprus. A full house of distinguished directors from some of the largest organisations in Cyprus had the chance...

05 Jul Directors Roles and Responsibilities

Posted at 09:58h by Admeimf

03 Jul Directors Development Programme

Posted at 15:45h by Admeimf

22 Jun Directors’ Development Programme for Regulated Financial Entities

Posted at 08:35h by Admeimf

The EIMF Live Online Learning Experience

Participants will receive access to the recorded sessions of the course.

EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more

Course Overview

Effective Directors and Board members need to be the driving force that will lead to the success of their organisation.  Whether you are a newly appointed Director, seeking to join the Board, or merely wanting to consider the impact of your role and enhance your leadership skills, the EIMF’s Directors Development Programme will equip you with the core skills and awareness to function effectively as a Director and/or Board member.

Attending this programme will provide Directors with a wealth of knowledge and insight into the three most essential areas for any Director – corporate governance, board strategy, and leadership. In this course, you will attain:

A comprehensive review of Corporate Governance theory
An in-depth view of the role, responsibilities and legal duties of a director including the knowledge and skills relevant to exercising the duties and responsibilities of a Board director in Cyprus
An understanding of the characteristics of an effective board, including ethical and professional conduct standards
The techniques and ways of thinking that will build confidence, so as to become an even more effective leader and more able to deal with the everyday responsibility, accountability and pressure that a Director faces

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Training Objectives

To understand the legal and regulatory environment in which the Board of Directors must function
To understand the roles and responsibilities of a Director
To pinpoint the key areas of a directors’ mandate which require on-going attention
To learn the key critical success factors for an effective Board
Overview of the Internal Audit Report from the perspective of the board
Overview of the ICAAP Report / Risk Management Report from the perspective of the board
Overview of the Compliance Report from the perspective of the board
Overview of the Anti Money Laundering Report from the perspective of the board
Overview of the Financial Statements from the perspective of the board
Ethical Leadership from the perspective of the board

Training Outline

Defining Corporate Governance
The Importance of History & Culture (Context)
The Two Agendas: Agency Theory v Stakeholder Theory
Resource Theory: Boards Adding Value
The Layers of Corporate Governance
The DNA of Good Governance
Four Board Types
Four Perspectives of the Board
Issues Between the Main Players in Corporate Governance
Case Study Intro: Video (45 minutes)
Governance Lessons Learned from the Past
Role Clarity of a Board
Board Composition & Structure
Chair Effectiveness
Effective Board Meetings & Processes
Knowledge of Industry & Organisation
Board Relationships
Board Evaluation & Development
Regulatory Reporting & The Board:

- The Internal Audit Report

- The Risk Management Report

- The ICAAP Report

- The Compliance Report

- The AMLCO Report

- The Annual Financial Statements

Ethical Leadership & The Board
Change Leadership & The Board

Who Should Attend

Directors
Non-executive Board Directors
Independent Board Directors
Secretaries to the Board of Directors
Chief Compliance Officers
Chief Executive Officers
Risk Managers
Internal Auditors
General Managers and other Senior Managers

Training Style

Using a discursive approach to sharing key information, critical theory illustrated with practical experience will be conveyed to participants to be reinforced by mutual sharing and learning. After building a solid foundation of understanding, participants are walked through best practice and technique to ensure Board effectiveness, using a real-life Case Study to ensure a real life understanding of the issues.

CPD Recognition

This programme may be approved for up to 21 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.

[/showhide]

09 Jun Non-Executive Directors (NEDs) in Financial Institutions

Posted at 08:57h by Admeimf

The EIMF Live Online Learning Experience

Participants will receive access to the recorded sessions of the course.

EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more

Course Overview

This programme is designed to equip Non-Executive Directors (NEDs) in financial institutions with the skills, knowledge, and oversight capabilities needed to effectively fulfil their governance responsibilities. The course covers key regulatory expectations, corporate governance principles, risk management frameworks, and boardroom best practices.

Participants will develop a deeper understanding of their role in providing strategic guidance, ensuring accountability, and safeguarding the financial institution’s integrity, sustainability, and regulatory compliance.

Through interactive discussions, case studies, and practical examples, the program enhances NEDs' ability to challenge management constructively and make informed decisions in an increasingly complex financial and regulatory environment.

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Training Objectives

By the end of this training, participants will be able to:

Understand the role, responsibilities, and legal obligations of Non-Executive Directors in financial institutions.
Strengthen oversight skills related to strategy, risk management, financial performance, and corporate governance.
Interpret and apply regulatory expectations from central banks, supervisors, and financial regulators.
Identify key risk categories including credit, market, operational, liquidity, conduct, and cybersecurity risks.
Provide effective challenge to executive management through informed questioning and evidence-based decision-making.
Oversee internal controls, compliance frameworks, and audit functions to ensure institutional resilience.
Promote ethical leadership, culture, and accountability across the organisation.
Enhance board effectiveness through communication, stakeholder engagement, and decision-making best practices.

Training Outline

Introduction to the Role of Non-Executive Directors

Definition and purpose of Non-Executive Directors
Key characteristics of an effective NED
Distinction between executive and non-executive responsibilities
Fiduciary duties, legal obligations, and accountability

Regulatory & Supervisory Expectations

Overview of regulatory frameworks (Basel standards, AML/CTF, prudential regulations, governance codes)
Role of the board in regulatory compliance
Supervisory assessments and interactions with regulators
Governance expectations from central banks and financial authorities

Corporate Governance in Financial Institutions

Principles of good governance
Board composition, diversity, and independence
Board committees (Audit, Risk, Remuneration, Governance) – roles and responsibilities
Board evaluations and performance reviews

Strategic Oversight & Business Model Understanding

The NED’s role in strategy development and approval
Assessing business models, market positioning, and competitive landscape
Oversight of digital transformation, innovation, and fintech partnerships
Evaluating strategic risks and opportunities

Risk Management Oversight

Understanding enterprise risk management (ERM)
Credit, market, liquidity, operational, and compliance risks
Cybersecurity and technology risk
Stress testing, risk appetite frameworks, and capital adequacy
How NEDs challenge management on risk issues

Financial Statements & Performance Oversight

Financial literacy for NEDs
Key financial ratios and performance indicators
Oversight of capital, liquidity, and profitability
Role of internal and external audit
Understanding financial red flags

Culture, Ethics, and Conduct Risk

Tone at the top and cultural leadership
Managing conflicts of interest
Oversight of conduct risk and customer protection
Supporting an ethical, transparent, and compliant culture

Board Dynamics & Effective Decision-Making

Constructive challenge and healthy debate
Effective communication with executive management
Decision-making frameworks for NEDs
Confidentiality, independence, and sound judgment

Crisis Management & Business Continuity Oversight

NED responsibilities in crisis situations
Scenario planning, contingency frameworks, and crisis communication
Oversight during financial distress, cybersecurity incidents, or operational crises

Case Studies & Practical Exercises

Governance failures in financial institutions (analysis and lessons learned)
Boardroom simulation exercises
Identifying red flags in financial and risk reports
Mock strategic and risk review discussions

Closing Insights & Action Plan

Summary of key learning points
Self-assessment for NED effectiveness
Action plan for enhancing governance performance

Who Should Attend

The programme is ideal for:

Existing Non-Executive Directors (NEDs) looking to enhance their strategic and governance capabilities
Newly appointed or aspiring NEDs preparing to take on board responsibilities
Board members of listed companies, private firms, family businesses, and regulated entities in Cyprus
Senior executives transitioning into advisory or governance roles
Legal, compliance, or audit professionals seeking a deeper understanding of NED functions
Shareholders or investors seeking to strengthen board-level oversight and decision-making

Training Style

The programme blends expert-led presentations with interactive discussions, real-life case studies, and collaborative group work. It strikes a balance between structured knowledge delivery and active learner participation, encouraging participants to ask questions, challenge assumptions, and contribute their own perspectives.

Through a mix of practical tools and strategic insights, participants will gain the confidence and clarity needed to lead effectively.

By the end of the session, they will be equipped with actionable techniques to enhance their boardroom presence, support robust governance in Cyprus, and contribute to high-impact decision-making.

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.

[/showhide]

Training Objectives

By the end of this training, participants will be able to:

Understand the role, responsibilities, and legal obligations of Non-Executive Directors in financial institutions.
Strengthen oversight skills related to strategy, risk management, financial performance, and corporate governance.
Interpret and apply regulatory expectations from central banks, supervisors, and financial regulators.
Identify key risk categories including credit, market, operational, liquidity, conduct, and cybersecurity risks.
Provide effective challenge to executive management through informed questioning and evidence-based decision-making.
Oversee internal controls, compliance frameworks, and audit functions to ensure institutional resilience.
Promote ethical leadership, culture, and accountability across the organisation.
Enhance board effectiveness through communication, stakeholder engagement, and decision-making best practices.

Training Outline

Introduction to the Role of Non-Executive Directors

Definition and purpose of Non-Executive Directors
Key characteristics of an effective NED
Distinction between executive and non-executive responsibilities
Fiduciary duties, legal obligations, and accountability

Regulatory & Supervisory Expectations

Overview of regulatory frameworks (Basel standards, AML/CTF, prudential regulations, governance codes)
Role of the board in regulatory compliance
Supervisory assessments and interactions with regulators
Governance expectations from central banks and financial authorities

Corporate Governance in Financial Institutions

Principles of good governance
Board composition, diversity, and independence
Board committees (Audit, Risk, Remuneration, Governance) – roles and responsibilities
Board evaluations and performance reviews

Strategic Oversight & Business Model Understanding

The NED’s role in strategy development and approval
Assessing business models, market positioning, and competitive landscape
Oversight of digital transformation, innovation, and fintech partnerships
Evaluating strategic risks and opportunities

Risk Management Oversight

Understanding enterprise risk management (ERM)
Credit, market, liquidity, operational, and compliance risks
Cybersecurity and technology risk
Stress testing, risk appetite frameworks, and capital adequacy
How NEDs challenge management on risk issues

Financial Statements & Performance Oversight

Financial literacy for NEDs
Key financial ratios and performance indicators
Oversight of capital, liquidity, and profitability
Role of internal and external audit
Understanding financial red flags

Culture, Ethics, and Conduct Risk

Tone at the top and cultural leadership
Managing conflicts of interest
Oversight of conduct risk and customer protection
Supporting an ethical, transparent, and compliant culture

Board Dynamics & Effective Decision-Making

Constructive challenge and healthy debate
Effective communication with executive management
Decision-making frameworks for NEDs
Confidentiality, independence, and sound judgment

Crisis Management & Business Continuity Oversight

NED responsibilities in crisis situations
Scenario planning, contingency frameworks, and crisis communication
Oversight during financial distress, cybersecurity incidents, or operational crises

Case Studies & Practical Exercises

Governance failures in financial institutions (analysis and lessons learned)
Boardroom simulation exercises
Identifying red flags in financial and risk reports
Mock strategic and risk review discussions

Closing Insights & Action Plan

Summary of key learning points
Self-assessment for NED effectiveness
Action plan for enhancing governance performance

Who Should Attend

The programme is ideal for:

Existing Non-Executive Directors (NEDs) looking to enhance their strategic and governance capabilities
Newly appointed or aspiring NEDs preparing to take on board responsibilities
Board members of listed companies, private firms, family businesses, and regulated entities in Cyprus
Senior executives transitioning into advisory or governance roles
Legal, compliance, or audit professionals seeking a deeper understanding of NED functions
Shareholders or investors seeking to strengthen board-level oversight and decision-making

Training Style

Through a mix of practical tools and strategic insights, participants will gain the confidence and clarity needed to lead effectively.

By the end of the session, they will be equipped with actionable techniques to enhance their boardroom presence, support robust governance in Cyprus, and contribute to high-impact decision-making.

CPD Recognition

In-house Training

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

19 Nov CRD IV: From the New Responsibilities of the Board of Directors to the Impact on Profitability clone

Posted at 12:34h by Admeimf

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13 Jul Directors and Officers Insurance: Professional Indemnity, Liability and Cyber Risks

22 Mar Symposium on the Roles of the Board of Directors of Investment Firms

27 Feb Conducting Lawful and Effective Company Board of Directors’ Meetings

27 Feb Obligations of Directors Under Cyprus Company Law

10 Oct Successful launch of the EIMF Directors Development Programme

05 Jul Directors Roles and Responsibilities

03 Jul Directors Development Programme

22 Jun Directors’ Development Programme for Regulated Financial Entities

09 Jun Non-Executive Directors (NEDs) in Financial Institutions

19 Nov CRD IV: From the New Responsibilities of the Board of Directors to the Impact on Profitability clone

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