UCITS Investment and Borrowing Rules
Training
In London
Description
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Type
Training
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Level
Intermediate
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Location
London
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Class hours
7h
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Duration
1 Day
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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
Start date
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
Reviews
Subjects
- Investment Management
- Regulatory Compliance
Teachers and trainers (1)
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
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