Compliance with CIF Operational Requirements (C2516)
This live online seminar will guide you through the essential topics, including the provision of investment services to other member states, recruitment requirements, marketing communication guidelines, reporting obligations and deadlines, and clients' funds safeguarding. Designed for compliance professionals, financial advisors, and industry experts, this seminar will empower you with the knowledge and strategies needed to navigate the complex landscape of CIF operational requirements.
Table of Contents
- About the Course
- Who Should Attend
- Key Learning Objectives
- Course Curriculum
- Meet the Trainer
- Fees & Registration Details
- Testimonials From Past Participants
- FAQs – Frequently Asked Questions
- Other Upcoming Courses
About the Course
This comprehensive two-day course focused on CIF (Cyprus Investment Firms) operational requirement compliance is increasingly imperative in today’s financial landscape.
The financial sector is subject to a multitude of regulations, standards, and guidelines that are constantly evolving. Navigating these complex and dynamic compliance requirements is a considerable challenge for financial institutions and professionals working within them. With the cross-border provision of services to other member states, CIFs face intricate regulatory challenges that require a profound understanding of the laws and obligations governing these activities.
Compliance with recruitment requirements is essential for maintaining the highest standards of competence and integrity among employees and attracting and retaining top talent in the competitive financial industry. In addition, adhering to marketing guidelines is pivotal for regulatory compliance and maintaining public trust while effectively promoting financial services. Moreover, understanding the reporting obligations and deadlines is crucial to avoiding penalties and ensuring timely, accurate submissions.
Lastly, safeguarding clients’ funds is a paramount concern, and mastery of these operational requirements is vital to ensure both regulatory compliance and the security of clients’ assets.
Course Timetable
Who Should Attend
- AML Compliance Officers (AMLCOs): Individuals responsible for ensuring compliance with AML regulations within their organizations.
- Risk Management Professionals: Those involved in assessing and managing risks associated with money laundering and terrorist financing.
- Financial Services Professionals: Employees from banks, investment firms, insurance companies, and other financial institutions who need to understand AML compliance.
- Regulatory Bodies and Supervisors: Personnel from regulatory authorities overseeing AML compliance.
Key Learning Objectives
By the end of the seminar, participants will be able to:
- Understand the regulatory framework and legal requirements governing the operations of a Cypriot Investment Firm (CIF).
- Define the key concepts and principles underpinning cross-border service provision within the European Union and their regulatory requirements.
- Explain how the legal and regulatory parameters guide the recruitment processes within the financial sector.
- Define the regulatory timelines and deadlines associated with various reporting requirements.
- Develop skills in implementing robust internal controls and safeguards to ensure CIF’s operational compliance.
- Be able to understand and produce reports in compliance with reporting obligations and deadlines.
- Cultivate a commitment to ethical conduct and transparency when engaging with clients and their funds.
- Develop an adaptable mind when aligning strategies with evolving compliance requirements.
Course Curriculum
Chapter 1 | Passporting and Cross-Border Services
This module covers the framework for investment firms to operate across EU member states using the passporting regime:
- Passporting Overview
- MiFID II/MiFIR Framework
- ESMA and CySEC Roles
- Branch Establishment & Tied Agents
- Third-Country Services: CIF requirements for operating outside the EU (CySEC Circulars).
- Notification Forms
Chapter 2 | CIF Organizational Structure and Policies
This module focuses on the organizational and operational requirements for CIFs, including:
- CIF Organizational Requirements
- Key Policies: Remuneration, outsourcing, and conflict of interest management
- Governance Frameworks
- Regulatory Updates
- Best Practices for Governance
- Risk Management
- Continuous Monitoring
- Recruitment Standards
- Client Information and Marketing Communication
Chapter 3 | Reporting Obligations for CIFs
This module covers the reporting obligations CIFs must meet under CySEC regulations:
- Understanding the Reporting Calendar and Requirements
- Overview of Reporting Calendar
- How to track monthly, quarterly, annual, and ad hoc reporting requirements
- Report Requirements
- CySEC Reporting Systems: TRS, XBRL
- CySEC Portal
Chapter 4 | Safeguarding Client Funds
This critical module ensures compliance with client asset safeguarding rules:
- Safeguarding Pillars: Separation of client and firm assets.
- Legislation: MiFID II and CySEC Circulars on safeguarding.
- Internal Controls and Reconciliation of client funs: Ensuring accuracy through daily reconciliations (CySEC Circular C418).
- Investor Compensation Fund (ICF): Purpose, coverage, and contribution requirements
- Thematic Review on the Handling of Clients’ Uninvested Funds by CIFs: CySEC Circular No: C651
*This training program is designed to support continuing professional development (CPD). Participants are encouraged to verify with their professional body or regulatory authority whether the training meets their individual or institutional CPD requirements.
Meet the Trainer
Fees & Registration Details
Testimonials From Past Participants
FAQs – Frequently Asked Questions
Is this seminar eligible for 10 CPDs ?
I am not eligible for HRDA Subsidy, can I attend to the course if I do not have an Ermis Profile?
How many people from my company can attend to the seminar?
This seminar 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 in which you hold membership.
No, the seminar is approved and subsidized by HRDA. As per HRDA guidelines, all interested parties must apply to the seminar via the ermis portal. This is needed, to ensure the quality of the seminar and participants’ relevance to the seminar’s objectives. Thus, an Ermis Profile is a requirment for the application process.
As per HRDA policies, in each implementation the maximum participants from a single company are 10.
