Organisation & Substance (CSSF Circular 18/698)

This training entitles the participant to a certificate of participation issued by an approved professional training organisation under the number 10060172/3.

Goals

• Understand the main organisational and governance requirements applicable to Investment Fund Managers (IFMs)under CSSF Circular18/698.
• Identify the human, technical and financial substance requirements in Luxembourg, as well as the responsibilities of governing bodies and key functions.
• Understand the internal control framework, the requirements applicable to delegation and the three lines of defence model.

Program

• Scope and Regulatory Framework of CSSF Circular 18/698
  • Entities in scope and interaction with the UCITS and AIFMD frameworks
  • CSSF authorisation
  • Ongoing supervision and notification requirements
• Governance and Management Bodies
  • Role and responsibilities of the Management Body
  • Conducting Officers
  • Four-Eyes Principle
  • Fit & Proper requirements
  • Qualifying shareholders and professional standing
• Human, Technical and Financial Substance in Luxembourg
  • Staffing, expertise and presence in Luxembourg
  • Central administration and effective decision-making
  • Premises, information systems and business continuity
  • Initial capital and own funds requirements
• Organisation of the IFM's Key Functions
  • Portfolio Management
  • Permanent and independent Risk Management function
  • Central Administration
  • Asset Valuation
  • Marketing and complaints handling
• Delegation of Functions
  • Principles and conditions governing delegation
  • Continued responsibility of the IFM
  • Substance requirements and prohibition of Letterbox Entities
  • Delegate Due Diligence
  • Contractual framework, SLAs and KPIs
  • Ongoing monitoring and Exit Strategy
• Internal Control Framework: Three Lines of Defence
  • First line: operational functions and first-level controls
  • Second line: Risk Management and Compliance
  • Third line: Internal Audit
  • Independence, responsibilities and interaction between control functions
• Implementation, Documentation and Ongoing Oversight
  • Internal policies and procedures
  • Document governance
  • CSSF reporting
  • Organisational self-assessment
  • Incident management and remediation plans
  • Continuous improvement of the framework

Duration

• 1h30

Language

• French/English

Practicalities

• Access sent within 24 hours
• 100% online training accessible from computer, tablet and smartphone
• Certificate of participation issued by an approved professional training organisation under the number 10060172/3.

Knowledge check

• Knowledge validation test at the end of each chapter

Learning method and pedagogy

• Theoretical presentations & practical cases
• Quizzes
• Animations, diagrams & summaries

Group discounts

Send your request by email to constance@easylearning.eu

• Between 11 and 25 accesses: 10 % discount + free reporting
• Between 26 and 50 accesses: 15% discount + free reporting
• Between 51 and 100 accesses: 20% discount + free reporting
• 100+ accesses: Ask for a tailor-made offer