Regulatory Reporting Workshop for Limited Licence Brokers, Investment Managers, Hedge Fund Managers and Private Equity Firms

Transcription

1 Regulatory Reporting Workshop for Limited Licence Brokers, Investment Managers, Hedge Fund Managers and Private Equity Firms IMS leads the way in providing capital adequacy and regulatory reporting training for Limited Licence, CAD Exempt and MiFID Exempt firms. Since GABRIEL s implementation, our training has been well-received by over 100 delegates and IMS has led one of the largest capital adequacy training courses held in London. Background The financial crisis has weakened confidence in the capital adequacy regime, leading to increased surveillance and analysis. GABRIEL is just about finding its feet, never mind flying, and the FSA is still wrestling with its Supervisory Review Evaluation Process ( SREP ). Internal Capital Adequacy Assessments have been severely tested in the past year, yet the FSA is looking to impose increased Individual Capital Guidance ( ICG ). For many firms, regulatory returns are the only information the FSA receives about their activities. Greater inquiry and analysis are focusing the FSA on senior management s responsibilities for capital adequacy and regulatory reporting and are increasingly important tools of its FSA supervisory process. Workshop objectives Presented by compliance consultants and accountants, highly experienced in financial regulation, these workshops build on our successful training to explain the FSA s requirements, its expectations of senior management, and provide practical advice for completing the returns and common pitfalls. The workshops will; present the FSA s Integrated Regulatory Reporting ( IRR ) requirements for limited licence investment firms and hedge fund and private equity managers or advisors; explain how to complete Capital Adequacy, Balance Sheet, Profit & Loss, Large Exposure* and other returns; develop firm s ICAAP* and Pillar 3* disclosure, explain FSA s SREP* implementation and the GABRIEL reporting application. These requirements reach a peak for most investment firms at half-year and year ends. Attendees will benefit from the presenters experience through a combination of presentations and practical hands-on examples. * these items will not be covered in the half-day workshop

2 Who should attend? The workshops are designed for Senior Managers and Professionals responsible for capital adequacy and regulatory reporting at Limited Licence Investment Firms, CAD Exempt Firms and MiFID exempt firms including brokers, investment managers, Hedge Fund Managers and Private. The events will benefit managers, directors and partners looking to understand how the regulatory reporting changes impact the financial management of their business. The use of practical examples will require familiarity with financial reporting and accounting, although the workshops are not explicitly targeted at accountants. Bookings If you would like to book yourself on these workshops please contact Louise Yates, on Further information For further information on the workshops, please contact Jonathan Wilson Sarah Donnelly or your usual IMS contact on +44 (0) Workshop leaders The workshops will be led by consultants and accountants from and IMS Buzzacott, combining their practical experiences. Limited is the largest independent compliance consultancy in the UK focusing solely on the asset management and securities industries. Since 1996 IMS has been providing our clients with solutions to their compliance issues. Our experienced professionals support hundreds of UK investment businesses across the asset management and securities industries. IMS Buzzacott LLP is a leading supplier of FSA compliance, accounting and taxation services to the UK financial services industry, with a dedicated staff managing the day to day regulatory reporting obligations of its clients. Jonathan Wilson, Jon is a Chartered Accountant and has over 20 years financial services experience. Jon led an asset management supervision team at IMRO and gained further industry experience at UBS, Deutsche bank and Merrill Lynch Investment Managers in the UK and US. He has been responsible for a variety of financial and operational roles including regulatory reporting and GL implementations. Since joining IMS he has managed an ongoing consulting team, focusing on hedge fund managers and private equity, and has contributed extensively to developing operational risk and regulatory reporting arrangements for firms. Jon represents IMS on a number of industry working groups and heads our Risk Consulting team.

3 David Jarman David heads up the Regulatory Investment Business team at Buzzacott LLP, specialising in providing audit, accounting and FSA compliance services to regulated entities such as hedge fund managers, investment advisers and brokers. David s other clients include non regulated asset managers and media companies. Within the corporate team, David's responsibilities include the development of internal reporting systems, monitoring and improving client service, training and recruitment. David joined Buzzacott in December 2003 from Moore Stephens London, working in the Financial Services Sector team. He graduated from The University of Leeds in 1995, where he read Computer Science and Management Studies. Limited Tenterden House 3 Tenterden Street Mayfair London W1S 1TD Please see below for the full Agenda for each workshop.

4 Limited Licence Investment Firms and Hedge Fund Managers Integrated Regulatory Reporting Background to IRR The FSA SUP handbook Regulatory Activity Groups and Permissions Full scope, Limited Activity or Limited Licence GABRIEL What needs to be submitted and when Audit and other reports Capital Adequacy The application of FSA s GENPRU and BIPRU handbooks Completing the capital adequacy return How the form is structured Identifying the data items relevant to your firm Base and Variable Capital requirements Calculating capital charges for risk Credit Risk Market Risk Fixed Overhead Requirement Other capital charges Capital mixes and capital structuring Balance sheet and Income statements Mapping your trial balance Accounting standards How the forms are structured and work Doing it by the (non trading) book Large Exposures Completing the return Timing and frequency Intra group large exposures UK Integrated Groups approach Isn t it time to remove this requirement? Capital Adequacy for UK Consolidation Groups UK consolidated groups Scope of the forms Timing and frequency

5 ICAAP and Pillar 3 disclosure ICAAP - part of a Firm s capital planning What s the Point? Senior management engagement Missing the Point FSA expectations Operational risk - Operational risk assessment - Proportionality - Evidencing control effectiveness - The relevance of scenario analysis and stress testing Pillar 3 the pilloried pillar? Out of sight, out of mind? SREP FSA019 When No means Yes Individual Capital Guidance a land grab? Liquidity requirements Stress to destruction

6 Advisors, Arrangers and MiFID exempt firms (Half Day) Integrated Regulatory Reporting Background to IRR The FSA SUP handbook Regulatory Activity Groups and Permissions GABRIEL What needs to be submitted and when Audit and other reports MiFID or not MiFID Activity that brings MiFID into scope MiFID exempt activities CAD exempt activities Venture Capital activities Capital Adequacy, Balance sheet and Income statements Mapping your trial balance Accounting standards How the forms are structured and work What needs to be submitted and when Audit and other reports Capital requirements and PII Other Reporting requirements Types, timing and frequency Nil returns Substance over form Capital and risk planning Capital base licence or liberty?