UCITS Investment and Borrowing Rules

Training

In London

£ 400 + VAT

Description

  • Type

    Training

  • Level

    Intermediate

  • Location

    London

  • Class hours

    7h

  • Duration

    1 Day

  • Start date

    Different dates available

In this practical workshop we consider in detail the UCITS Investment and Borrowing limits, including in respect of derivatives. The workshop is case-study based with numerous examples to support delegates in gaining strong familiarity with the UCITS investment limits.

Facilities

Location

Start date

London
See map
31 Southampton Row, WC1B 5HJ

Start date

Different dates availableEnrolment now open

About this course

This course will be of value to people in a range of roles within authorised fund firms and their advisers, including: Fund Managers, Risk Analysts, Compliance Managers, Product Development specialists, Lawyers and Trustees

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Reviews

Subjects

  • Investment Management
  • Regulatory Compliance

Teachers and trainers (1)

Darren Burrows

Darren Burrows

Managing Director

Darren is a law graduate, qualified chartered accountant and Member of the Chartered Institute for Securities & Investment. He has 20 years financial services and fund management experience, including with Big 4 Accountancy firms and with leading depositary banks. His specialist focus is UCITS and AIFMD Fund regulation, specifically as regards investment compliance and risk management. Darren is the founder of Funds-Axis and has delivered the vision for the industry-leading FundWare solution for integrated investment compliance, regulatory reporting and risk.

Course programme

1. Introduction - Types of Rules relevant to funds (a) Regulatory - UCITS, NURS etc (b) Major Shareholding, Takeover Limits, Foreign Investment Limits & Sensitive Sectors, Short selling rules, (c) Prospectus, Industry and Internal Limits
2. An introduction to UCITS Eligible Assets
3. UCITS Investment in to Transferable securities (a) Regulated Markets: the Eligible Markets regime and the 10% in unapproved transferable securities limit (b) The 5/10/40 rule (c) Government and Public securities (d) Covered Bond Provisons
4. Index Tracking UCITS Funds
5. UCITS – investment into Cash & Deposits, including Ancillary Liquid Assets
6. UCITS Borrowing rules, including jurisdictional differences in the use of borrowing for investment purposes.
7. UCITS investment into Collective Investment Schemes, including non-UCITS
8. Case-study: Active and Passive Breaches: Case study on reviewing a breach and determining whether active or passive (advertent / inadvertent) and determining compensation requirements.
9. The UCITS concentration and significant influence rules
10. Derivatives - the key derivative rules (a) Look through exposure for the 5/10/40 rule etc (b) Global exposure, including VaR limits (c) Counterparty exposure (d) Cover Requirements
11. Derivatives – case studies on calculating commitment approach exposure for UCITS.
12. The role of the Trustee / Depositary
13. Jurisdictional comparisons between Dublin, Luxembourg and U.K. re:
(a) Interpretation of the investment and borrowing rules (b) Operational processes and timeframes for resolving breaches and compensating
(c) Reporting to the Regulator

UCITS Investment and Borrowing Rules

£ 400 + VAT