Basel ii, Solvency ii, Sarbanes Oxley, MiFID, E-SOX Compliance for Hedge Funds

Risk and Compliance Training and Consulting in the Isle of Man

      
 

a
In-House Training 
The Seminars
 
1. Course Title
Basel ii: Due Diligence for Directors and Executive Management
To learn more click here
 
 
2. Course Title
Basel ii: Implementation and Compliance Training
To learn more click here
 
3. Course Title
Sarbanes Oxley Act - Implementation and Compliance Training
To learn more click here
 
4. Course Title
Markets in Financial Instruments Directive (MiFID): Implementation and Compliance Training
To learn more click here
 
 
5. Course Title
The European Union’s Sarbanes-Oxley Act (E-SOX). The 8th Company Law, the Market Abuse and the Transparency Directives: Implementation and Compliance Training  
To learn more click here
 

The Seminars can be customized to meet specific needs

 

Modules for tailor made presentations and training
 
1. Basel ii, Correspondent Banks and Anti Money Laundering
 
2. Basel ii, Home / Host Challenges and Cross Border Banking
 
3. Basel ii and Supervision on a Consolidated Basis
 
4. The Implementation of Basel ii in the European Union – Branches and Subsidiaries in the EU.
 
5. Basel ii – Differences among the countries: EU, USA, G-10 countries, implementation outside the G-10.
 
6. Basel ii – Core Principles for Effective Banking Supervision
 
7. Using Basel ii as a competitive advantage – How financial organizations use compliance to add value to their shareholders and meet better the expectations of their customers
 
8. Sarbanes Oxley, Basel ii: Similarities and differences
 
9. Basel ii: Due Diligence for the Board of Directors and Executive Management
 
11. The European Union’s Savings Tax Directive (ESD): Tax competition and extra-territorial taxation
 
12. The European Union’s Financial Conglomerates Directive: From the European effort to avoid the next BCCI to the supplementary supervision of financial conglomerates on a group-wide basis
 
13. The European Union’s 8th Company Law Directive. The European Sarbanes-Oxley and its extraterritorial application
 
14. The European Union’s Markets in Financial Instruments Directive (MiFID): The next client classification obligation. A “Know (even more) Your Customer ”.
 
15. The European Union’s Financial Services Action Plan: Intra-Community
 Directives and extraterritorial implications

16. COSO, COSO ERM and Control Frameworks

The previous modules can also be presented to the Board of Directors and Senior Management

 
The Instructor
George Lekatis is a senior risk and compliance consultant, certified trainer, and general manager of Compliance LLC,  a leading international provider of Sarbanes Oxley and Basel ii training and consulting in more than 30 countries.
 
 
George has more than 17,000 hours experience as a professional speaker and seminar leader.
Has worked for more than 11 years as a management consultant and educator and has demonstrated exceptional presentation and communication skills.
 
To learn more click here
 
 
 
 
 
About Compliance LLC
Compliance LLC (incorporated in Delaware, USA) is a leading international provider of Sarbanes Oxley and Basel ii compliance consulting and training.
We work in more than 30 countries, providing excellent personalized solutions to companies and organizations of the private and the public sector.
To learn more click here
 
Policy and Cost 
Fixed fees, fixed terms. You know the exact final cost. Everything is included in this price (expenses, flights, tax etc.). There is no exception – you know exactly the cost. Consulting or training, it will never cost more.

Example: For George Lekatis, General Manager and Chief Compliance Consultant of Compliance LLC.
Fee for Training: US$ 13,800 for 3 days (and $ 2,000 for each additional day) - final cost (any place in Europe, Asia or America, for teams from 2 to 50).
 
 
 
 
NEW!
Course Title
Providing Financial Services to the European Clients:
For banks and financial organizations of the Offshore Financial Centers
 
3 days
 
Directives and Regulations of the European Union with Extraterritorial Application that affect banks and financial organizations of the Offshore Financial Centers
 
 
Objectives:

The seminar has been designed to provide with the knowledge and skills needed to understand the European Union’s Directives and Regulations that give opportunities for arbitrage and competitive advantage to banks,  hedge funds and financial organizations of the Offshore Financial Centers 

Target Audience:

This course is intended for senior executives from Banks, Financial Organizations, Hedge Funds, Financial Supervisors and Regulators of the Offshore Financial Centers 

This course is highly recommended for all managers and professionals from the Offshore Financial Centers, who provide financial services to clients from the 30 countries of the European Economic Area 

Duration:

3 Days, 09:00 to 17:00 

 Course Synopsis:
 
  • Introduction
  • Understanding the directives and the regulations of the European Union that affect the Offshore Financial Centers
  • The European Union’s Financial Services Action Plan (FSAP)
  • The most Important Directives
  • The Lamfalussy process
  • What is new, what is different for banks and financial organizations outside the European Economic Area

 

  • Extraterritorial Application of EU directives and regulations
  • The European Savings Tax Directive (that harmed the UK Crown Dependencies and Overseas Territories and helped their competitors, OFCs outside of the influence of the European Union) – lessons learned
  • From the Savings Tax Directive to the Markets in Financial Instruments Directive (MiFID), the 8th Company Law Directive (European Sarbanes Oxley) and other directives

 

  • The Markets in Financial Instruments Directive (MiFID)
  • From the Investment Services Directive (ISD) to MiFID: What is different now
  • From the “know your customer” requirements to the new client classification, suitability and appropriateness
  • Conduct of Business (COB) obligations
  • The Regulation for National Market System (Reg NMS) in the United States and the MiFID in EU – a flat world?
  • MiFID and options, futures, swaps, forward rate agreements, and other derivative contracts
  • Extraterritorial Application of MiFID
  • Challenges and opportunities for countries outside the European Economic Area
  • MiFID and investment products authorized under different regimes 
  • Hedge Funds in the European Economic Area (EEA) after MiFID
  • New challenges for Hedge Fund managers
  • MiFID and competitive advantage - Recommendations for banks and financial organizations of the Offshore Financial Centers

 

  • The 8th Company Law Directive
  • The European Union’s Sarbanes-Oxley Act (E-SOX)
  • Non-European companies listed in any country of the EEA have to comply with the 8th company law directive
  • Which are the extremely important extraterritorial consequences
  • How and why several Offshore Financial Centers enact legislation to prove that they have an “equivalent level of regulation”
  • Auditors that audit offshore companies with EU listings
  • The Offshore Financial Centers and the importance of Articles 45 and 46
  • The role of the board of directors and executive management
  • From the US Public Company Accounting Oversight Board (PCAOB) to the European Group of Auditors’ Oversight Bodies (EGAOB)
  • Similarities and differences with the US Sarbanes-Oxley Act
  • The Market Abuse Directive
  • The Transparency Directive

 

  • Undertakings for Collective Investment in Transferable Securities Directive (UCITS III)
  • UCITS III and funds sold across the EU member states
  • Funds designed for pan-European distribution to retail investors
  • A passport to operate and market freely within the EEA that is easier to obtain (and cheaper)
  • Establishing a fund in one EEA member state like Ireland or Luxembourg
  • Permitted Activities of Management Companies
  • EU Passport for Management Companies
  • Tax implications of UCITS III
  • Expanded permissible asset classes and broader scope of investment possibilities
  • Although not directly applicable outside the EEA, jurisdictions (like Switzerland and Hong Kong) recognize UCITS – the reasons
  • Funds of Funds
  • Opportunities and Challenges

 

  • The Capital Requirements Directive
  • Basel ii will be implementation in the European Economic Area via the Capital Requirements Directive (CRD) – differences from what is happening at the Offshore Financial Centers
  • The freedom of establishment and the freedom to provide services in the EEA
  • Relations with third countries
  • Powers of the authorities of the home and host Member State
  • Hedge Funds, Alternative investments and the CRD
  • Structured products, Securitization after Basel II and the CRD
  • Traditional and Synthetic Securitisation
  • Regulatory arbitrage
  • The national discretions and the options in the EEA
  • Countries and banks use Basel II and especially the Capital Requirements Directive as a competitive advantage

 

  • The Financial Conglomerates Directive
  • The “supplementary” supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate
  • The supervision of financial conglomerates and financial groups involved in cross-sectoral activities
  • The “coordinating supervisor” or how to avoid a new BCCI
  • Risk concentration
  • Intra-group transactions
  • Firms that are headquartered outside the EU, and are operating in EU markets
  • The Joint Forum on Financial Conglomerates
  • What is important for the Offshore Financial Centers
  • Exchange of information with the EEA

 

  • Tomorrow
  • New directives and regulations – what is developing
  • Indirect and direct regulation of Hedge Funds
  • Know your customer – next step
  • Solvency II is for insurance firms what the Basel ii and the Capital Requirements Directive is for banks
  • Insurers holding capital according to new rules
  • Replacing many existing Insurance Directives (like the Life, Non-life, Reinsurance, Insurance Groups and Winding-up Directives)
  • The Internal market for financial services in the European Union: The banking, the securities and the insurance sectors in EU – what is next
 
 
 
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