According to the “Directive of the Cyprus Securities and Exchange Commission regarding the certifications of persons and the certification register” (RAD 22/2017), it is compulsory that certified persons need to undergo annual training to satisfy the criterion of Continuing Professional Development in order to maintain their certification. This seminar aims primarily to satisfy the CPD requirement of CySEC by offering an update to the current developments of the Cyprus Law regarding CIFs and their obligations.
The aim of the seminar is to provide participants with an outline of the CIF’s requirement to develop Recovery Plans. It outlines the principles and methodologies that should be used when establishing Recovery Plans, gives the overview of qualitative and quantitative Recovery Plan indicators and range of stress-test scenarios that should be included in the Recovery Plan in accordance with the EBA guidelines. The seminar sets out the content of Recovery Plan, specifying the essential items of information a Recovery Plan is expected to include so as to satisfy CySEC’s requirements. Finally, it gives the overview of different circumstances when an institution shall be considered as failing or likely to fail and outlines how CySEC will review and evaluate the Recovery Plan of the CIF.
This seminar is addressed to the Risk Officers, Compliance Officers, Internal and External Auditors as well as the Members of the Board of Investment Firms as it outlines their responsibilities and gives direction on how to prepare and implement Recovery Plans.