The banking & finance roundtable features six experts from around the world. Highlighted topics include: An insight into the impact of Brexit from a Swiss perspective. New legislation in Sweden in the aftermath of the Panama Paper leaks. An outlook on why digitalisation is the biggest challenge currently facing the banking & finance industry. We discover which jurisdiction is “going after” bank managers in its enforcement of anti-money laundering regulations. We also identify which provisions are being enforced more strictly in Tunisia since the 2011 revolution. Featured countries are: India, Norway, Sweden, Switzerland, Tunisia and Vietnam.
This document describes the Israel FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Israel has a strong culture of innovation bolstered by government support and a highly educated workforce. The country has the largest number of startups per capita in the world, around 1 startup for every 1,400 people. Some of these startups have gone on to be high-profile exits, including Waze, which sold for $1.3 billion, and Mobileye for $15.3 billion. The technology education imparted in army units has helped nurture entrepreneurs in the country.
Key Findings:
- The Israel Defense Forces (IDF) provides potential entrepreneurs with the opportunity to develop a wide array of skills as well as a network.
- The Bank of Israel’s initiatives such as simplifying the process of establishing a new bank, creating an API standard for open banking, and creating the Central Credit Register are aimed to increase competition in the financial services industry.
- As of August 28, 2018, Israel hosts 426 FinTechs, operating in diverse areas including payments, trading and investing, lending and financing, anti-fraud and insurance, with concentration in payment and trading and investing. There is a shift in the start-up business model in the recent years as more and more companies are planning to partner/collaborate with banks.
- Israeli FinTechs are also often born with a global mindset at the start – due to the small domestic market and concentrated nature of the local banking sector. This international-first mindset is often attractive to multinational investors.
- Global and local financial service providers have partnered with startups through incubation and acceleration. Citibank and Barclays set up their innovation centers in 2011. In March 2018, Deutsche Bank also announced plan to establish its technology center.
- In April 2018, insurance company Menorah Mivtachim became a strategic partner with IBM accelerator Alpha Zone, and is selecting advance-stage Israeli insurtech startups for a 20-week acceleration program.
- Israeli tech startups have been attracting investment from local and global investors alike. In the first six months of 2018 more than $400 million was raised in 45 deals, exceeding previous half-year investments by 33% and 45%, respectively. International attention is increasing as international investors participated in 73%of investment deals in the first half of 2018, up from 66% in 2017, and 60% from 2016.
- The Israeli government provides financial support for tech companies through grants offered by the Israel Innovation Authority. In July 2017, the Israeli Ministry of Finance announced a tender for up to four government-backed technology growth funds.
ICMA is a trade institution that represents all categories of market users: issuers, intermediaries and investors, both wholesale and retail.
Membership continues to grow and we currently have more than 440 members based in 53 countries. Full list of the ICMA members can be accessed via this link: http://www.icmagroup.org/membership/about-membership/List-of-principal-delegates/
With today’s modern advancements in global banking and financial services technologies and interconnectivity, implementing effective, robust, and proportional Anti-Money Laundering (AML) and Counter the Financing of Terrorism
(CFT) compliance frameworks has grown ever more challenging. Not only must firms be able to implement risk-based assessments that are proportional to the size and nature of a firm’s activities, they must also ensure that these systems
can seamlessly integrate third party systems in order to provide effective monitoring of AML and CFT risks.
This training course has been specifically designed to provide a firm’s compliance and front office employees with highly comprehensive training on AML global trends and challenges, as well as a thorough review of money laundering methods
and ways of concealing beneficial ownership. By attending the training course individuals will be thoroughly trained on global money laundering techniques and will be equipped to be able to
more effectively carry out internal client AML and CFT checks and risk assessments. The training course provides practical and interactive training combined with contextual case studies
to exemplify global AML and CFT practices.
The banking & finance roundtable features six experts from around the world. Highlighted topics include: An insight into the impact of Brexit from a Swiss perspective. New legislation in Sweden in the aftermath of the Panama Paper leaks. An outlook on why digitalisation is the biggest challenge currently facing the banking & finance industry. We discover which jurisdiction is “going after” bank managers in its enforcement of anti-money laundering regulations. We also identify which provisions are being enforced more strictly in Tunisia since the 2011 revolution. Featured countries are: India, Norway, Sweden, Switzerland, Tunisia and Vietnam.
This document describes the Israel FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Israel has a strong culture of innovation bolstered by government support and a highly educated workforce. The country has the largest number of startups per capita in the world, around 1 startup for every 1,400 people. Some of these startups have gone on to be high-profile exits, including Waze, which sold for $1.3 billion, and Mobileye for $15.3 billion. The technology education imparted in army units has helped nurture entrepreneurs in the country.
Key Findings:
- The Israel Defense Forces (IDF) provides potential entrepreneurs with the opportunity to develop a wide array of skills as well as a network.
- The Bank of Israel’s initiatives such as simplifying the process of establishing a new bank, creating an API standard for open banking, and creating the Central Credit Register are aimed to increase competition in the financial services industry.
- As of August 28, 2018, Israel hosts 426 FinTechs, operating in diverse areas including payments, trading and investing, lending and financing, anti-fraud and insurance, with concentration in payment and trading and investing. There is a shift in the start-up business model in the recent years as more and more companies are planning to partner/collaborate with banks.
- Israeli FinTechs are also often born with a global mindset at the start – due to the small domestic market and concentrated nature of the local banking sector. This international-first mindset is often attractive to multinational investors.
- Global and local financial service providers have partnered with startups through incubation and acceleration. Citibank and Barclays set up their innovation centers in 2011. In March 2018, Deutsche Bank also announced plan to establish its technology center.
- In April 2018, insurance company Menorah Mivtachim became a strategic partner with IBM accelerator Alpha Zone, and is selecting advance-stage Israeli insurtech startups for a 20-week acceleration program.
- Israeli tech startups have been attracting investment from local and global investors alike. In the first six months of 2018 more than $400 million was raised in 45 deals, exceeding previous half-year investments by 33% and 45%, respectively. International attention is increasing as international investors participated in 73%of investment deals in the first half of 2018, up from 66% in 2017, and 60% from 2016.
- The Israeli government provides financial support for tech companies through grants offered by the Israel Innovation Authority. In July 2017, the Israeli Ministry of Finance announced a tender for up to four government-backed technology growth funds.
ICMA is a trade institution that represents all categories of market users: issuers, intermediaries and investors, both wholesale and retail.
Membership continues to grow and we currently have more than 440 members based in 53 countries. Full list of the ICMA members can be accessed via this link: http://www.icmagroup.org/membership/about-membership/List-of-principal-delegates/
With today’s modern advancements in global banking and financial services technologies and interconnectivity, implementing effective, robust, and proportional Anti-Money Laundering (AML) and Counter the Financing of Terrorism
(CFT) compliance frameworks has grown ever more challenging. Not only must firms be able to implement risk-based assessments that are proportional to the size and nature of a firm’s activities, they must also ensure that these systems
can seamlessly integrate third party systems in order to provide effective monitoring of AML and CFT risks.
This training course has been specifically designed to provide a firm’s compliance and front office employees with highly comprehensive training on AML global trends and challenges, as well as a thorough review of money laundering methods
and ways of concealing beneficial ownership. By attending the training course individuals will be thoroughly trained on global money laundering techniques and will be equipped to be able to
more effectively carry out internal client AML and CFT checks and risk assessments. The training course provides practical and interactive training combined with contextual case studies
to exemplify global AML and CFT practices.
This new and highly unique Central Counterparty (CCP) interoperability training course seeks to provide attendees with comprehensive training in the latest cutting-edge areas pertaining to CCP interoperability arrangements. The training course seeks to draw from a broad range of sources in order to ensure that attendees are expertly guided through all the latest legal, financial, operational, and technological issues governing CCP interoperability arrangements throughout the European Union (EU).
The training course will not only cover existing legal frameworks under the European Market Infrastructure Regulation (EMIR), but also best practices governing interoperability arrangements. It will identify the range of advantages and operational risks relating to interoperability and will also benchmark financial instruments markets in order to review the feasibility of implementing interoperability arrangements in those markets.
The harmonisation and standardisation of interoperability arrangements has been proposed by industry participants as a way forward for implementing effective interoperability arrangements. The course will propose what a European Convention on CCP Interoperability might look like in practice, and how Distributed Ledger Technology (DLT) Platforms could facilitate more efficient and effective interoperability arrangements in the future.
Storm-7 Consulting offers highest calibre financial knowledge and insight to market-leading companies and experts around the world. We are a financial consultancy company that provides premier financial intelligence and knowledge to leading financial institutions around the world. We deliver premium quality conferences on cutting-edge legal and financial issues, and strive to provide access to crucial insight by leading experts on the latest complex regulatory developments.
Article 1 of the Banque du Liban Basic Circular no. 128 (Beirut, January 12, 2013) (the Circular) states that Banks and Financial Institutions (BFIs) must establish a Compliance Department (CD) comprising of: (1) a Legal Compliance Unit; and (2) an Anti-Money Laundering (AML)/Counter the Financing of Terrorism (CFT) Compliance Unit (AML/CFT Compliance Unit).
Article 3 of the Circular specifies that the Head of the Legal Compliance Unit must have the required competences and hold, at least, a law degree; it must also have the required knowledge and expertise in the field of banking and financial services laws and legislations in force in Lebanon and in any country hosting the affiliates of the bank or financial institution, in addition to the required knowledge in banking and financial activities.
This training course has been specifically designed to provide the required knowledge and expertise relating to countries hosting the affiliates of Lebanese banks or financial institutions located within the European Union (EU).
This unique and innovative training course will train attendees in a very broad range of regulatory compliance frameworks that govern Lebanese affiliate BFIs operating in the European Union (EU). On the first day, the first two sessions will provide extensive coverage of EU AML/CFT operational frameworks as well as key AML/CFT areas, such as risk-based approach to money laundering, undertaking extensive due diligence, and AML/CFT policies, conduct risk, and reputational risk and financial damage. The next two sessions will cover the revised Markets in Financial Instruments Directive (MAD 2) and the Market Abuse Regulation (MAR) regulatory compliance frameworks. They will include a review of a range of new insider dealing and market abuse offences, new criminal sanctions and penalties, as well as market abuse prevention, monitoring, and detection. These sessions will also provide a review of a broad range of insider dealing and market abuse behaviours, as well as a select review of past case studies. On the second day, sessions 5 and 6 will provide extensive coverage of the new revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR). This includes a review of the new market structure in place across the EU, MiFIR trade and transaction reporting, MiFID II suitability and appropriateness requirements, best execution, recording of telecommunications, and the unbundling of research commissions. The last two sessions will provide broad coverage of central counterparty (CCP) operational frameworks that are in place in the EU. This will include a review of the CCP clearing model, CCP operational practices, and CCP cleared products. In addition, the course will cover CCP operational risk and default risks, as well as providing attendees with a comprehensive understanding of recovery and resolution plans.
This comprehensive one day intermediate to advanced level course will train attendees on the very latest updated Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR) regulatory, risk, compliance, reporting and implementation requirements. Attendees will be guided through the latest MiFID II operational framework, and will also be provided with a critical and explanatory review of the latest draft Level 2 Regulatory Technical Standards (RTS) and Implementation Technical Standards (ITS) published by the European Securities and Markets Authority (ESMA).
Thomson Reuters and Storm-7 Consulting jointly bring to you a new series of FATCA and the OECD Common Reporting Standard training courses scheduled across the Middle East in 2018. These highly unique events seeks to provide attendees with an unparalleled opportunity to receive expert FATCA and the OECD CRS regulatory compliance training, as well as being given the opportunity to view Thomson Reuters OneSource regulatory compliance and reporting technology solution. Attendees will be able to discuss a range of operational and strategic issues that may be affected firms with Storm-7 Consulting and Thomson Reuters experts. In addition to receiving a highly comprehensive range of FATCA and the OECD CRS training materials, attendees will come away with much deeper insight into FATCA and the OECD CRS compliance technologies. These new series of events are being offered at a highly discounted price and will provide firms with unprecedented networking opportunities. The 2018 scheduled is listed below.
MALTA
Monday 19th February 2018
Tuesday 20th February 2018
BAHRAIN
Sunday 25th February 2018
Monday 26th February 2018
SAUDI ARABIA
Wednesday 7th March 2018
Thursday 8th March 2018
DUBAI
Sunday 11th March 2018
Monday 12th March 2018
ABU DHABI
Tuesday 13th March 2018
Wednesday 14th March 2018
LEBANON
Monday 19th March 2018
Tuesday 20th March 2018
QATAR
Monday 26th March 2018
Tuesday 27th March 2018
CYPRUS
Monday 2nd April 2018
Tuesday 3rd April 2018
KUWAIT
Tuesday 17th April 2018
Wednesday18th April 2018
The MiFID II: Operational Compliance at The Shard training course is a unique and highly personalised training course that seeks to provide attendees with a blend of new strategic and operational insights into the new MiFID II framework. The sessions are highly tailored to the individual attendees as there are a limited number of places available the course allows more interactive discussions between the experts and the attendees. The pre-event MiFID II questionnaire allows us to more precisely identify areas of interest and to increase focus on their particular areas.
Regulatory updates from RR Donnelley December 2015Robert McNamara
December Regulatory Updates covering PRIIPs, Solvency II, European Market Infrastructure Regulation and additional reporting requirements under Irish Domiciled UCITS Funds.
We conduct an independent assessment of Anti-money Laundering(AML), Combating the Financing of Terrorism & Sanctions(CFT) Compliance Frameworks in UAE.
WBR have expanded our buy-side portfolio with our new Risk & Compliance Summit aimed at CRO's & CCO's from key buy-side firms. Do take a look at our draft agenda and get in touch if you want to be a part of this unique C-Level event
This new and highly unique Central Counterparty (CCP) interoperability training course seeks to provide attendees with comprehensive training in the latest cutting-edge areas pertaining to CCP interoperability arrangements. The training course seeks to draw from a broad range of sources in order to ensure that attendees are expertly guided through all the latest legal, financial, operational, and technological issues governing CCP interoperability arrangements throughout the European Union (EU).
The training course will not only cover existing legal frameworks under the European Market Infrastructure Regulation (EMIR), but also best practices governing interoperability arrangements. It will identify the range of advantages and operational risks relating to interoperability and will also benchmark financial instruments markets in order to review the feasibility of implementing interoperability arrangements in those markets.
The harmonisation and standardisation of interoperability arrangements has been proposed by industry participants as a way forward for implementing effective interoperability arrangements. The course will propose what a European Convention on CCP Interoperability might look like in practice, and how Distributed Ledger Technology (DLT) Platforms could facilitate more efficient and effective interoperability arrangements in the future.
Storm-7 Consulting offers highest calibre financial knowledge and insight to market-leading companies and experts around the world. We are a financial consultancy company that provides premier financial intelligence and knowledge to leading financial institutions around the world. We deliver premium quality conferences on cutting-edge legal and financial issues, and strive to provide access to crucial insight by leading experts on the latest complex regulatory developments.
Article 1 of the Banque du Liban Basic Circular no. 128 (Beirut, January 12, 2013) (the Circular) states that Banks and Financial Institutions (BFIs) must establish a Compliance Department (CD) comprising of: (1) a Legal Compliance Unit; and (2) an Anti-Money Laundering (AML)/Counter the Financing of Terrorism (CFT) Compliance Unit (AML/CFT Compliance Unit).
Article 3 of the Circular specifies that the Head of the Legal Compliance Unit must have the required competences and hold, at least, a law degree; it must also have the required knowledge and expertise in the field of banking and financial services laws and legislations in force in Lebanon and in any country hosting the affiliates of the bank or financial institution, in addition to the required knowledge in banking and financial activities.
This training course has been specifically designed to provide the required knowledge and expertise relating to countries hosting the affiliates of Lebanese banks or financial institutions located within the European Union (EU).
This unique and innovative training course will train attendees in a very broad range of regulatory compliance frameworks that govern Lebanese affiliate BFIs operating in the European Union (EU). On the first day, the first two sessions will provide extensive coverage of EU AML/CFT operational frameworks as well as key AML/CFT areas, such as risk-based approach to money laundering, undertaking extensive due diligence, and AML/CFT policies, conduct risk, and reputational risk and financial damage. The next two sessions will cover the revised Markets in Financial Instruments Directive (MAD 2) and the Market Abuse Regulation (MAR) regulatory compliance frameworks. They will include a review of a range of new insider dealing and market abuse offences, new criminal sanctions and penalties, as well as market abuse prevention, monitoring, and detection. These sessions will also provide a review of a broad range of insider dealing and market abuse behaviours, as well as a select review of past case studies. On the second day, sessions 5 and 6 will provide extensive coverage of the new revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR). This includes a review of the new market structure in place across the EU, MiFIR trade and transaction reporting, MiFID II suitability and appropriateness requirements, best execution, recording of telecommunications, and the unbundling of research commissions. The last two sessions will provide broad coverage of central counterparty (CCP) operational frameworks that are in place in the EU. This will include a review of the CCP clearing model, CCP operational practices, and CCP cleared products. In addition, the course will cover CCP operational risk and default risks, as well as providing attendees with a comprehensive understanding of recovery and resolution plans.
This comprehensive one day intermediate to advanced level course will train attendees on the very latest updated Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR) regulatory, risk, compliance, reporting and implementation requirements. Attendees will be guided through the latest MiFID II operational framework, and will also be provided with a critical and explanatory review of the latest draft Level 2 Regulatory Technical Standards (RTS) and Implementation Technical Standards (ITS) published by the European Securities and Markets Authority (ESMA).
Thomson Reuters and Storm-7 Consulting jointly bring to you a new series of FATCA and the OECD Common Reporting Standard training courses scheduled across the Middle East in 2018. These highly unique events seeks to provide attendees with an unparalleled opportunity to receive expert FATCA and the OECD CRS regulatory compliance training, as well as being given the opportunity to view Thomson Reuters OneSource regulatory compliance and reporting technology solution. Attendees will be able to discuss a range of operational and strategic issues that may be affected firms with Storm-7 Consulting and Thomson Reuters experts. In addition to receiving a highly comprehensive range of FATCA and the OECD CRS training materials, attendees will come away with much deeper insight into FATCA and the OECD CRS compliance technologies. These new series of events are being offered at a highly discounted price and will provide firms with unprecedented networking opportunities. The 2018 scheduled is listed below.
MALTA
Monday 19th February 2018
Tuesday 20th February 2018
BAHRAIN
Sunday 25th February 2018
Monday 26th February 2018
SAUDI ARABIA
Wednesday 7th March 2018
Thursday 8th March 2018
DUBAI
Sunday 11th March 2018
Monday 12th March 2018
ABU DHABI
Tuesday 13th March 2018
Wednesday 14th March 2018
LEBANON
Monday 19th March 2018
Tuesday 20th March 2018
QATAR
Monday 26th March 2018
Tuesday 27th March 2018
CYPRUS
Monday 2nd April 2018
Tuesday 3rd April 2018
KUWAIT
Tuesday 17th April 2018
Wednesday18th April 2018
The MiFID II: Operational Compliance at The Shard training course is a unique and highly personalised training course that seeks to provide attendees with a blend of new strategic and operational insights into the new MiFID II framework. The sessions are highly tailored to the individual attendees as there are a limited number of places available the course allows more interactive discussions between the experts and the attendees. The pre-event MiFID II questionnaire allows us to more precisely identify areas of interest and to increase focus on their particular areas.
Regulatory updates from RR Donnelley December 2015Robert McNamara
December Regulatory Updates covering PRIIPs, Solvency II, European Market Infrastructure Regulation and additional reporting requirements under Irish Domiciled UCITS Funds.
We conduct an independent assessment of Anti-money Laundering(AML), Combating the Financing of Terrorism & Sanctions(CFT) Compliance Frameworks in UAE.
WBR have expanded our buy-side portfolio with our new Risk & Compliance Summit aimed at CRO's & CCO's from key buy-side firms. Do take a look at our draft agenda and get in touch if you want to be a part of this unique C-Level event
هذه الدورة التدريبية المكونة من يومين والمقدمة للمستوى المتوسط إلى المتقدم ستوفر للمندوبين فهما شاملا للقانون الأمريكي الجديد الامتثال الضريبي للحسابات الأجنبية (FATCA)، وذلك من خلال الجمع بين النظري والعملي وأيضا من خلال إدراج عناصر التعلم التفاعلي. وتهدف الدورة إلى إزالة الغموض عن تعقيدات كل من قانون (FATCA) وإطارات معيار التقارير المشترك (CRS) لمنظمة التعاون والتنمية في الميدان الاقتصادي OECD. وبالطبع فإن المدرب الخبير المسؤول عن الدورة سوف يضمن أن المندوبين قد فهموا تماماً التأثير التشغيلي الذي سيكون لكل من (FATCA) و (OECD CRS) على المؤسسات والعملاء، فضلاً عن توجيه المندوبين من خلال عمليات التكيف الضرورية، وحلول الامتثال، وتعقيدات فهم الطريقة التي تشتغل بها (FATCA) و (OECD CRS) في جميع أنحاء العالم.
Storm-7 Consulting present the first in a new series of comprehensive and in-depth market research reports covering new regulatory compliance frameworks. This first report covers the substantive MiFID II ARM obligations as well as providing a review of existing and new MiFID II ARM technology offerings.
This two day intermediate to advanced training course will provide delegates with a comprehensive understanding of the new United States Foreign Account Tax Compliance Act (FATCA) requirements, by combining theory with practice and by incorporating interactive learning elements. The course aims to demystify the complexity of both FACTA and the OECD Common Reporting Standard (CRS) frameworks. The course Expert Trainer will ensure that delegates fully understand the operational impact that FATCA and the OECD CRS will have on the business and on clients, as well as guiding delegates through necessary adaptation processes, compliance solutions, and the complexities of understanding the way the FATCA and OECD CRS frameworks operate around the world.
This new and unique conference will provide delegates with a comprehensive understanding of central counterparty (CCP) clearing models and operational frameworks in the United States (U.S.). Delegates will receive in depth instruction on the U.S. CCP regulatory framework governed by the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity and Futures Trading Commission (CFTC) and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). Delegates will be able to practically compare a range of key issues affecting CCP offerings in the U.S. The conference will also provide deep coverage of margining practices, clearing models and agreements,operational risks, and risk management frameworks affecting CCPs. Delegates will also be guided through the intricacies of effective CCP Recovery and Resolution Plans, and CCP Default Management, Recovery and Continuity Frameworks.
This new and unique two day conference
will provide delegates with a comprehensive
understanding of central counterparty (CCP)
clearing models and operational frameworks in
the European Union (EU). Delegates will receive
in depth instruction on the EU CCP regulatory
framework governed by the European Securities
and Markets Authority (ESMA) and the European
Market Infrastructure Regulation (EMIR).
Delegates will be able to practically compare
a range of key issues affecting CCP offerings in
the EU. The conference will also provide deep
coverage of margining practices, clearing models
and agreements, operational risks, and risk
management frameworks affecting CCPs. Finally,
delegates will be guided through the intricacies
of effective CCP Recovery and Resolution Plans,
and CCP Default Management, Recovery and
Continuity Frameworks.
Operational risk, or the risk of loss resulting from inadequate or failed internal processes, people, or systems, is one of the most important and crucial areas that banks and financial services firms (Firms) face today. In this modern era of cyber attacks, rogue traders, and technology failures, establishing robust and cutting-edge operational risk best practices is imperative for Firms operating around the world. This requires a systematic approach to the control of all operational risks and the establishment of an effective Enterprise Risk Management (ERM) culture.
This superior and unique operational risk training course will provide Firms with training across a wide breadth of areas pertinent to operational risk management governance. Attendees will be trained in a wide range of areas such as developing new and cutting edge internal risk control functions, developing operational efficiencies, mitigation of enterprise-wide operational risk, support and control functions, and modern risk measurement and management techniques. The highly flexible and modular nature of the training course allows Firms to customise it according to their own specific internal needs. From a high level perspective the training course will set out key steps in developing an operational risk framework, defining the scope of business, developing a risk policy, documenting an Enterprise Risk Document, and the Three Lines of Defence.
The ISDA® 2016 Variation Margin (VM) Protocol sets out a new and highly complex documentation framework governing regulatory requirements for non-cleared over-the-counter (OTC) derivatives across multiple regulatory systems (e.g. United States (US), Canada, European Union (EU). New regulatory requirements set out new minimum mandatory variation margin requirements (e.g. marked-to-market, eligibility, thresholds, haircuts) that are required to be implemented by non-cleared OTC derivatives counterparties. However, the new VM Protocol and VM Credit Support Annex (VM CSA) also introduce a bewildering array of different compliance methodologies (i.e. Amend Method, Replicate and Amend Method, New Method, CSA Amendments, New CSA) and new provisions. This training course aims to provide attendees with comprehensive knowledge and understanding of how the new framework operates, what are the different compliance methodologies that can be invoked, and what key provisions should be negotiated and documented under the new VM CSA framework.
This comprehensive one day intermediate to advanced level course will train attendees on the very latest updated Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR) regulatory, risk, compliance, reporting and implementation requirements. Attendees will be guided through the latest MiFID II operational framework, and will also be provided with a critical and explanatory review of the latest draft Level 2 Regulatory Technical Standards (RTS) and Implementation Technical Standards (ITS) published by the European Securities and Markets Authority (ESMA).
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
2. ABOUT THE IN-HOUSE TRAINING COURSES
ATTENDEES: Unlimited.
MATERIALS: Comprehensive Hard Copy Training Course Manual and Training Reference Materials, 4 x
Electronic PowerPoint Presentations.
FIXED MODULES: 4 modules are provided for each one day In-House Training Course.
IN-HOUSE TRAINING
COURSE EXPERT
Rodrigo Zepeda is Co-Founder and Managing Director of Storm-7 Consulting. He is an expert
consultant who specialises in derivatives and banking and financial services law, regulation, and
compliance. He is an expert in a very broad range of regulatory compliance frameworks such as
FATCA, the OECD CRS, MiFID II, MAD 2 MAR, PSD2, CRD IV, Solvency II, OTC Derivatives, CCP
Clearing, PRIIPs, BRRD, AML4, and the GDPR. He holds a LLB degree, a LLM Masters degree in
International and Comparative Business Law, and has passed the New York Bar Examination. He
was an Associate (ACSI) of the Chartered Institute for Securities & Investment from 2004 to 2014
and is now a Chartered Member (MCSI). He has created and delivered numerous conferences
and training courses around the world such as ‘FATCA for Latin American Firms’ (Santo Domingo,
Dominican Republic, Panama City, Panama), ‘MiFID II: Regulatory, Risk, and Compliance (London),
and ‘Market Abuse: Operational Compliance’ (London), ‘AEOI (FATCA & CRS)’ (Manama, Bahrain).
He has also delivered numerous In-House Training Courses around the world to major international
financial institutions such as The Abu Dhabi Investment Authority (MiFID II: Operational Compliance,
Abu Dhabi, the United Arab Emirates), the United Nations Principles of Responsible Investment
(MiFID II: Final Review, London), CAF, the Development Bank of Latin America (Swaps and Over-
the-counter Derivatives, Lima, Peru), Rothschild Investment Management (UK) Limited (AEOI
(FATCA & CRS), London) and Bethmann Bank AG (MAD 2 MAR, Frankfurt). He is a Reviewer
for the Journal of Financial Regulation and Compliance and has also published widely in leading
industry journals such as the Capco Institute’s Journal of Financial Transformation, the Journal of
International Banking Law and Regulation, as well as e-books on derivatives law. Noted publications
include “Optimizing Risk Allocation for CCPs under the European Market Infrastructure Regulation”;
“The ISDA Master Agreement 2012: A Missed Opportunity”; “The ISDA Master Agreement: The
Derivatives Risk Management Tool of the 21st Century?”; “To EU, or not to EU: that is the AIFMD
question”; and “The Industrialization Blueprint: Re-Engineering the Future of Banking and Financial
Services?”.
Storm-7 Consulting is an international consulting company that provides premier intelligence, insight
and support to global financial institutions. We provide cutting-edge conferences, events, public training
courses, and in-house training courses to leading firms globally.
We provide expert regulatory compliance training covering areas such as the General Data Protection
Regulation (GDPR), the revised Markets in Financial Instruments Directive (MiFID II), Automatic
Exchange of Information (Foreign Account Tax Compliance Act (FATCA) and Common Reporting
Standard (CRS), revised Market Abuse Directive (MAD 2), Market Abuse Regulation (MAR), the revised
Capital Requirements Directive (CRD IV), Packaged Retail and Insurance Based Investment Products
(PRIIPs), Solvency II, the revised Payment Services Directive (PSD 2), Central Counterparty (CCP)
Clearing, Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF), Stress Testing, and the
Senior Managers and Certification Regime.
We provide unique and highly innovative marketing services to firms operating in the banking, financial
services, Regulatory Technology (RegTech), and Financial Technology (FinTech) sectors. We have
designed our training events and materials to significantly enhance employees’ skills and knowledge
levels in regulatory compliance frameworks. We also seek to provide a unique, comprehensive, and
superior blend of legal, financial, strategic, operational, and technological perspectives in our events.
We have received enquiries and bookings from leading firms around the world, such as the Abu Dhabi
Investment Authority, Rothschild Investment Management (UK) Limited, Bethmann Bank AG, Dubai
Financial Market, CAF the Development Bank of Latin America, the Central Bank of Ireland, the Central
Bank of Russia, APG Asset Management, Royal London Asset Management, Brandes Investment Partners,
Eversheds, Erste Group, Millenium Information Technologies, Deutsche Bank, Bethmann Bank AG, ICBC
Standard Bank, Gulf International Bank, Raiffeisen Bank International AG, and BGC Partners.
We have collaborated with firms around the world, such as the United Kingdom Financial Conduct
Authority, Thomson Reuters, Sopra Steria, Sungard AS, Capco, OTC Partners New York, IHS Markit,
Eze Castle Integration, ICMA Centre, Sybenetix, Heriot-Watt University, J.P. Morgan Asset Management,
Custom House Global Fund Services, Cass Business School, RiXtrema, Solum Financial, Objectivus
Financial Consulting, D2 Legal Technology, Eurekahedge, Financial IT, HedgeConnection, Alpha Journal,
ATMonitor, HF Alert, and CrowdReviews.
ABOUT STORM-7 CONSULTING
2 3
3. MIFID II COMPLIANCE AND TECHNOLOGY
REVISED MARKETS IN FINANCIAL INSTRUMENTS DIRECTIVE
(MIFID II) AND MARKETS IN FINANCIAL INSTRUMENTS
REGULATION (MIFIR).
ABOUT:
This In-House Training Course is one of the most cost-effective ways to comprehensively
understand the new and highly complex revised Markets in Financial Instruments Directive
(MiFID II) and Markets in Financial Instruments Regulation (MiFIR). The MiFID II Compliance
and Technology training course is not simply about theoretical knowledge and training, it
seeks to provide attendees with operational and strategic insight into MiFID II compliance and
operational requirements. The training course will provide the ideal mix between theory and
operational practice, as well as reviewing a range of MiFID II technologies. MiFID II is not just about
compliance, it represents a key opportunity for firms to strategically differentiate themselves and
capitalise on new and emerging financial markets and investment opportunities.
MODULE 1:
MIFID II MARKET STRUCTURE, TRADE AND
TRANSACTION REPORTING
● MiFID I, MiFID II, and MiFID III Directional Timeline,
Systematic Internalisers, Organised Trading Facilities (OTF),
Multilateral Trading Facilities (MTFs).
● Trade Execution Update, Data Publication, Consolidated Tape,
Consolidated Tape Provider.
● MiFIR Reporting Framework, Reporting Obligations,
Extended Scope of Financial Instruments, Approved Reporting
Mechanism (ARM) Framework, Data Reporting Services
Providers (DRSPs), ARM Providers.
MODULE 2:
ORGANISATIONAL REQUIREMENTS,
INVESTOR PROTECTION, AND
SUITABILITY AND APPROPRIATENESS
● Client Classification, Investment Suitability and
Appropriateness.
● Product Governance, Sales Targets,
Remuneration Policies, Independent Advice,
Conflicts of Interest, Exemptions, Compliance
Function, Record Keeping.
● The Third Country Framework, Equivalence
Assessment, Third Country Firm Legal and
Taxation Considerations.
MODULE 3:
MIFID II COMPLIANCE AND TECHNOLOGY – PART I
● MiFID II Best Execution Requirements, Best Execution Technologies, Best Execution and
Transaction Cost Analysis.
● MiFID II Recording of Communications (Investment Firm Client Obligations Strategic
Considerations).
● A Review of MiFID II Best Execution Technologies and MiFID II Recording of
Communications Technologies.
MODULE 4:
MIFID II COMPLIANCE AND TECHNOLOGY – PART II
● MiFID II Suitability and Appropriateness (Assessing Suitability, Assessing
Appropriateness, Guidelines).
● MiFID II Research Unbundling, Research Payment Accounts, Broker Voting, Post-
MiFID II Commision Sharing Agreements, Research Platforms, Research Technology
Providers.
● A Review of MiFID II Research Unbundling Technologies and MiFID II Compliance
Technologies.
“The updated MiFID II training course
provides highly comprehensive
training in all of the most key aspects
of the complex and intricate MiFID II
and MiFIR operational frameworks.”
4 5
4. MAD 2 MAR (MARKET ABUSE):
OPERATIONAL COMPLIANCE
ABOUT:
This one day In-House Training Course will provide attendees with a comprehensive instruction on the new European
Union (EU) market abuse regulatory framework governed by the European Securities and Markets Authority (ESMA).
It will train attendees on the legal obligations and operational framework for the new Criminal Sanctions For Market
Abuse Directive (MAD 2) (Directive 2014/57/EU) and Market Abuse Regulation (MAR) (Regulation No 596/2014). The
course will guide attendees through new obligations for trading venues (Multilateral Trading Facility (MTF), Organised
Trading Facility (OTF), Emissions Allowances), issuers, financial services firms, and Persons Discharging Managerial
Responsibilities (PDMRs). Attendees will obtain training on monitoring, detecting, and identifying suspicious orders and
transactions under the new MAD 2 and MAR operational framework, and will also be guided through the new Buy-Back
Programmes, Stabilisation Measures, Accepted Market Practices and Market Soundings provisions.
MODULE 1:
THE MAD 2 (DIRECTIVE 2014/57/EU) AND MAR (REGULATION NO 596/201/4)
OPERATIONAL FRAMEWORK
● MAD 2 FRAMEWORK: (1) new minimum rules for criminal sanctions and criminal penalties and liability for natural and
legal persons; (2) new obligations for trading venues (MTFs, OTFS, Emissions Allowances) and issuers; and (3) application
to spot commodity contracts and transactions; and (4) benchmark manipulation.
● MAR FRAMEWORK: (1) New financial instruments covered; (2) obligations and offences (issuer disclosure of inside
information; market soundings; transactions by persons discharging managerial responsibilities; suspicious transactions
reporting; algorithmic and high-frequency trading); and (3) New whistleblowing obligations, reporting, protections, and
financial incentives.
MODULE 2:
MAR OPERATIONAL PRACTICES I: SUSPICIOUS
TRANSACTION AND ORDER REPORTS
(STORS), BUY-BACK PROGRAMME (BBP), AND
STABILISATION MEASURES
● STOR FRAMEWORK: (1) STOR content; (2) reasonably
suspicious orders (RSOs) (detection, level of suspicion, personnel
training; cancellation and modification of orders); (3) Level II
Regulatory Technical Standards (RTS) obligations (general
requirements, prevention, monitoring, detection, training,
reporting, timing, content, templates).
● BBP AND STABLISATION FRAMEWORK: (1) BBP exemption
(trading in own shares); (2) qualifying operational conditions
(disclosure, reporting, limits); (3) qualifying programme
conditions; (4) stabilisation of securities exemption; (5) qualifying
operational conditions (duration, disclosure and notification,
price limits); (6) BBP and stabilisation measures Level II RTS
compliance.
MODULE 3:
MAR OPERATIONAL PRACTICES II:
ACCEPTED MARKET PRACTICES (AMP) AND
MARKET SOUNDINGS (MS)
● AMP FRAMEWORK: (1) Establishing legitimate
reasons and conforming with accepted market practice;
(2) AMP Competent authority criteria (transparency,
safeguards, market liquidity and efficiency, trading
mechanism, integrity of related markets, investigations,
market structural characteristics); (3) AMP Level II RTS
compliance; (4) Competent authority reviews.
● MS FRAMEWORK: (1) MS operational framework
(MAR, Article 11); (2) Procedural conditions and
obligations for market participants (written records,
consent, obligations to inform); (3) ESMA MS Guidelines;
(4) Level II RTS and Implementing Technical Standards
(ITS) on appropriate arrangements, procedures and
record keeping requirements.
MODULE 4:
MAD 2 AND MAR OPERATIONAL COMPLIANCE
PROGRAMMES
● COMPLIANCE: (1) MAD 2 and MAR compliance programmes;
and (2) modification of existing Information Technology (IT)
infrastructures.
● NEW EXEMPTIONS: (1) trading in own shares in buy-
back programs; (2) trading in securities for the stabilization
of securities exception and eligibility conditions; (3) public
authorities in pursuit of monetary, exchange rate, or public debt
management policy; (4) EU Agricultural Policy and Climate
Policy; (5) Chinese Walls.
● NEW POWERS AND SANCTIONS: (1) Minimum Supervisory
and Investigatory Powers (document and data access;
interviews; dawn raids, inspections, recordings, data traffic,
telecommunications operators, temporary prohibitions); (2)
Administrative Sanctions and Measures; (3) Financial Penalties
(individuals, companies).
“Even though providing regular training
on market abuse to employees is a
mandatory requirement, many firms
are still continuing to operate in
breach of MAD 2 MAR requirements.
This training course allows firms to
finally become compliant in a highly
cost effective way.”
6 7
5. ABOUT:
This one day In-House Training Course will provide delegates with a comprehensive understanding of central counterparty
(CCP) clearing models and operational frameworks in the European Union (EU). Delegates will receive in depth instruction
on the EU CCP regulatory framework governed by the European Securities and Markets Authority (ESMA) and the European
Market Infrastructure Regulation (EMIR). Delegates will be able to practically compare a range of key issues affecting CCP
offerings in the EU. The one day In-House Training Course will also provide deep coverage of margining practices, clearing
models and agreements, operational risks, and risk management frameworks affecting CCPs. Finally, delegates will be
guided through the intricacies of effective CCP Recovery and Resolution Plans, and CCP Default Management, Recovery
and Continuity Frameworks.
MODULE 1:
THE CENTRAL COUNTERPARTY (CCP)
CLEARING MODEL
● An Overview of the CCP Clearing Model
(Functional Definition; CCP Ownership; CCP
Advantages and Disadvantages; Novation; Cleared
Products; Margining; Multilateral Netting; Risk and
Default; Loss Mutualisation; Auctions; Portability).
● CCP Regulation v. ‘Too Big To Fail’.
● Case Study: LCH.Clearnet Swapclear.
MODULE 2:
THE EU CCP REGULATORY FRAMEWORK
● ESMA and CCP authorisation, recognition and supervision in
the EU.
● CCP operating, clearing and reporting obligations under
the EMIR framework, CCP Cleared Products, Reporting,
Interoperability, Third Country CCPs.
● Basel III capital treatment/risk weightings for Qualifying and
Non-Qualifying CCPs.
MODULE 3:
CCP CLEARING MODELS AND AGREEMENTS (DIRECT AND INDIRECT)
● CCP and Client Clearing Documentation and common negotiated provisions (Margin, Termination
Events, Pre-Default Porting).
● Customer clearing under modified Master Agreements.
● An Overview of ISDA® Clearing Agreements and Addendums (EU International Swaps and
Derivatives Association (ISDA)/Futures Industry Association (FIA) Cleared Derivatives Execution
Agreement + Addendum).
MODULE 4:
DESIGNING EFFECTIVE CCP DEFAULT
MANAGEMENT, RECOVERY AND CONTINUITY
FRAMEWORKS
● The 2012 Committee on Payments and Market Infrastructure -
Organization of Securities Commissions (CPMI-IOSCO) Principles
for Financial Market Infrastructure.
● The ISDA® Principles for CCP Recovery and CCP Default
Management, Recovery and Continuity.
● Developing new Total Loss Absorbing Capacity (TLAC), Bail-
inable debt standards for CCPs, and Developing Standardised
Regulatory Stress Testing and Disclosure.
CCP CLEARING, RISK MANAGEMENT, RECOVERY
AND RESOLUTION (EU)
“The rise in the CCP clearing model
in the EU has precipitated an urgent
need for market participants to
comprehensively understand the
complexities of CCP regulatory and
risk frameworks, margining practices,
clearing agreements, and recovery
and resolution plans.”
8 9
6. MODULE 1:
THE FATCA REGULATORY FRAMEWORK
● Key FATCA Aims, Objectives and Milestones and Global Implementation and
Impact.
● FATCA Definitions (FFI; P-FFI; RDC-FFI; CDC-FFI; NFFE; GIIN; FDAP
Income; RO; IGA; USWAs; Gross Proceeds; Passthru Payments; Grandfathered
Obligations; Active Income; Passive Income).
● The Three Pillars of FATCA (1) PILLAR I: Classification (Direct and Indirect US
Accounts, Regulatory Exemptions), Due Diligence (Individual and Entity Accounts),
Classification of Financial Entities; (2) PILLAR II: FFI and NFFE Documentation
and Reporting Obligations, FATCA Reporting, Recalcitrant Accounts; (3)
PILLAR III: 30% Withholding Penalty, Withholding Payments, FATCA Reporting
Responsibilities, Civil and Criminal Penalties for Responsible Officers.
ABOUT:
This one day In-House Training Course will provide delegates with a
comprehensive understanding of the new United States Foreign Account Tax
Compliance Act (FATCA) requirements, by combining theory with practice and
by incorporating interactive learning elements. The course aims to demystify the
complexity of both FATCA and the Organisation for Economic Co-operation and
Development (OECD) Common Reporting Standard (CRS) frameworks. The
course Expert Trainer will ensure that delegates fully understand the operational
impact that FATCA and the OECD CRS will have on the business and on clients,
as well as guiding delegates through necessary adaptation processes, compliance
solutions, and the complexities of understanding the way the FATCA and OECD
CRS frameworks operate around the world.
MODULE 2:
THE CRS REGULATORY FRAMEWORK
● A Global Overview of CRS Reporting, Implementation Timelines, and
2017 and 2018 Reporting Deadlines.
● A Review of the CRS (Standard for Automatic Exchange of Financial
Account Information), and the Model Competent Authority Agreement
(Model CAA).
● CRS Classification, Participating Financial Institutions, and Non-
Resident Account Holders of CRS Participating Countries; On-boarding
of New Entity and Individual Accounts and Client On-boarding Solutions,
Pre-Existing Account Due Diligence Procedures; CRS Reporting (Foreign
Debt, Equity Interests, Custody Accounts, Foreign Deposit Accounts),
Reportable Accounts, and Enhanced File Review Procedures.
AEOI (FATCA & CRS) OPERATIONAL
COMPLIANCE
MODULE 3:
AEOI (FATCA & CRS) OPERATIONAL COMPLIANCE
● A Legal Review of the Model 1(Reciprocal 1A); Model 1 (Non-Reciprocal 1B);
Model 2 (No Pre-Existing Tax Information Exchange Agreement (TIEA) or Double
Tax Convention (DTC) Required); Model 2 (Pre-Existing TIEA or DTC); IRS FFI
Agreement (Form 8957).
● A Review of the CRS Commentaries; Comparing FATCA and CRS Frameworks
and Identifying Key Differences; Identifying and Assessing Compliance and Non-
Compliance Costs, Organisational Gap Analysis and Developing Effective AEOI
Compliance Frameworks; Responsible Office Preparation, Certifications, and
Onboarding and Client Relationships.
MODULE 4:
AEOI (FATCA & CRS) RISK MANAGEMENT
● A Review of the Model Mandatory Disclosure Rules for CRS
Avoidance Arrangements and Opaque Offshore Structures.
● A Review of Jurisdictional Trends and Operational Risk Review.
● A Review of AEOI (FATCA & CRS) Loopholes and Anti-Avoidance
Strategies.
“The recent Australian CBA $700 million fine
has identified how much failing to put in place
effective anti-money laundering procedures can
cost banks. However, many banks and financial
institutions are still continuing to put in place
ineffective measures to implement FATCA and
CRS frameworks, and are still unaware of the
array of loopholes and anti-avoidance strategies
that are currently in use by criminal money
launderers and tax evaders around the world.”
10 1110 11
7. GENERAL DATA PROTECTION REGULATION
OPERATIONAL COMPLIANCE
ABOUT:
The new General Data Protection Regulation (2016/679) (GDPR) represents one of the most significant
changes in the existing data protection framework in place across the European Union (EU). Its territorial
scope is extremely broad and so many companies based outside the EU that are processing personal data
about individuals based in the EU will now need to comply with its provisions. The new and complex risk-
based framework now imposes onerous accountability requirements on data controllers and data processors,
and also brings in new types of data such as genetic, pseudonymous, and biometric data. It is imperative
that firms not only clearly and comprehensively understand the new framework, but that they are also able
to understand what changes they need to make internally in order to be GDPR compliant. This new one day
In-House Training Course will expertly guide attendees through the legal, technological, and operational
framework, as well as providing real and unique strategic perspectives. Attendees will also be guided through
a range of data protection compliance technology tools and software, and will also learn about offerings from
third party data service providers.
MODULE 1:
AN OVERVIEW OF THE NEW GENERAL DATA PROTECTION
REGULATION (GDPR) FRAMEWORK
An Overview of the new General Data Protection Regulation.
● A Summary of the Main Changes from the EU Data Protection Directive.
● Material and Territorial Scope; Extraterritorial Effect; Definitions; Genetic
and Biometric Data; Pseudonymous Data; Exemptions (Entity, Activity),
Derogations, Special Conditions, Restrictions.
● An Overview of Implementation Costs for average Small and Medium-Sized
Enterprises (SMEs).
MODULE 2:
THE GDPR OPERATIONAL FRAMEWORK
● Key Concepts in the GDPR Framework (Personal Data;
Data Processing; Data Controllers; Data Processors; Data
Transfers; Profiling and Automated Decision-Taking).
● Principles relating to the Processing of Personal Data
and Lawfulness of Processing.
● Grounds for Processing Data and Data Rights
(Rectification, Objection, Erasure, Subject Access, Data
Security, Data Portability, Restriction of Processing,
Profiling Rights).
● Legal Basis for Data Processing; Conditions for
Consent, Legitimate Interest Legal Basis; Purpose
Limitation Principle; Processing of Special Categories of
Personal Data.
MODULE 3:
ORGANISATIONAL READINESS FOR THE GDPR
● Data Protection Officer Responsibilities and Data Privacy Impact
Assessments.
● Supervision, Non-Compliance, Sanctions and Fines.
● Codes of Conduct, Data Protection Certification Mechanisms, Data
Protection Seals and Marks, and Developing a Transparent and Robust
Information Governance Framework; Transfers of Personal Data to Third
Countries.
● GDPR Compliance Programmes, Internal Controller Effectiveness
Verification, and Independent Expert Effectiveness Verification.
MODULE 4:
DATA PROTECTION COMPLIANCE TECHNOLOGY TOOLS
AND SOFTWARE
● Overview of Key Requirements (Content Filtering; Stream-Based Protection;
Bandwidth Optimization; Privacy-by-Design Requirements; Digitization
Strategy).
● Security Architecture, Security Policy, Privileged Credentials, Digital
Identities, Encryption, Scalable SSL Decryption with Micro-Segmentation.
● Test Data Management (People, Systems, and Technology), Copying,
Masking.
● A Review of Select GDPR Software Technology Tools and Software: (1)
Software AG; (2) Veritas; (3) CA Technologies; (4) Iboss Cybersecurity.
“
Firms need to be able to
not only comprehensively
understand GDPR
requirements, but also
to leverage GDPR from
a strategic marketing
perspective.”
12 1312 13
8. REVISED PAYMENT SERVICES DIRECTIVE
(PSD2): REGULATION AND INNOVATION
MODULE 1:
AN OVERVIEW OF THE PSD AND PSD2
OPERATIONAL FRAMEWORKS
● Overview of the Payment Services Directive (2007/64/
EC) (PSD), Harmonization and Integration of Retail
Payments in the European Union (EU), Consumer
Protection, Payment Efficiency, and Payment Chain Security
Risks.
● Overview of the Revised Payment Services Directive
(2015/2366/EU) (PSD2), Payment Services (Account
Information Services (AIS), Payment Initiation Services
(PIS), Payment Institutions (Banks, Building Societies,
Money Remitters, E-Money Institutions, FinTech Platforms,
Acquirer Payment Institutions, Non-Bank Credit Card
Issuers and Merchant Acquirers).
MODULE 2:
UNDERSTANDING THE NEW PSD2
FINANCIAL LANDSCAPE
● The PSD2 Operational Framework, the Single Euro
Payments Area (SEPA), Payment Services Providers,
and Exemptions (Commercial Agency, Limited Network,
Digital Device, Automated Teller Machine (ATMs); Third-
Party Account Access, Account Information Aggregators,
AIS Providers (AISPs), PIS Providers (PISPs), and
Execution of Payment Transactions.
● PSD2 Security Framework (Data Protection,
Operational Risks, Security Risks, Authentication, Fraud
Controls, Incident Notification); Consumer Protection
MODULE 3:
A REVIEW OF EBA REGULATORY
TECHNICAL STANDARDS AND GUIDELINES
● Analysis of the European Banking Authority (EBA)
Regulatory Technical Standards (RTS):
(1) Strong Customer Authentication and Common and
Secure Communication; and
(2) Passport Notifications.
● Analysis of the EBA Guidelines:
(1) Major Incidents Reporting;
(2) Minimum Monetary Amount for Professional Indemnity
Insurance; and
(3) Authorisation and Registration.
● Overview of the Revised Payment Services Directive
(2015/2366/EU) (PSD2), Payment Services (Account
Information Services (AIS), Payment Initiation Services
(PIS), Payment Institutions (Banks, Building Societies,
Money Remitters, E-Money Institutions, FinTech Platforms,
Acquirer Payment Institutions, Non-Bank Credit Card
Issuers and Merchant Acquirers).
MODULE 4:
PSD2 STRATEGIC REGULATORY
CHALLENGES AND OPPORTUNITIES
● PSD2 Strategic Regulatory Compliance (Third Party
Providers (TPPs), Access to Accounts (XS2A), Open
Application Programming Interfaces (APIs), and Open
Banking Technical Standards).
● PSD2 Strategic Challenges and Opportunities for
FinTech Firms, and a Review of Existing FinTech Firm
Offerings (AccessPay, Adyen, AstroPay, Azimo, Currency
Cloud, DoPay, Flypay, Droplet, Judo, GoCardless, Ixaris,
Monese, MoneyMover, Osper, Mondo, Moni, Pockit,
Revolut, SumUp, Yoyo).
ABOUT:
There can be no doubt that the new Payment Services
Directive (2015/2366/EU) (PSD2) is set to revolutionise
banking services throughout the European Union (EU)
and usher in a whole new host of unique and innovative
payments systems and ideas. Given the sheer breadth of
Payment Institutions affected by PSD2, the complexity of
this new payments landscape should not be underestimated.
Firms need to not only become PSD2 compliant, but without
a shadow of a doubt they also need to arm themselves with
strategic insights that will allow them to successfully navigate
and thrive in this newly forecasted complexity of payments
systems and institutions. This one day In-House Training
Course seeks to provide firms with highly comprehensive
yet logical guidance through the new PSD2 framework, in
addition to presenting insights into new strategic regulatory
challenges and opportunities which came into force on 13th
of January 2018.
“The new PSD2 framework is not only complex,
but at the same time if understood strategically
it represents one of the best ways for firms to be
able to create long-term strategic competitive
advantage.”
Bookings and Enquiries
UK +44 (0)20 7846 0076
www.storm-7.com
client.services@storm-7.com
(Complaints Procedures, Dispute Resolution, Penalties,
Surcharge Restrictions, Refund Rights, Liability for
Unauthorised Transactions).
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