Funds by IOB: Update on eCPD Material

Accredited Funds Professionals are required to complete 10 hours of Continuing Professional Development (CPD) annually and IOB commits to providing a suite of eCPD material on topical and important issues relevant to the funds industry. As we approach the end of 2021, some new material available on IOB Learn includes:

• Currency Hedging Programmes in Funds: Hedging currency exposure is one of the most common hedging techniques used by funds. There are risks attached, including the risk of failing to comply with various regulatory requirements such as those related to best execution and those which apply to share class hedging. The topic is addressed comprehensively in this webinar presented by Ellen Lederman, Mark Kieran and Sid Patel. To assist in understanding, the recording is accompanied by a short set of slides which set out a concise summary of the various regulatory obligations.

• Assessment of Value in Investment Funds: Two presentations on investment fund value assessments are provided which include a detailed look at the UK and EU requirements and the supervisory activities in this area which is subject to continued regulatory focus. In Part 1, which was recorded in 2020, Giles Swan provides a presentation on matters to consider when assessing investment fund value, including a detailed look at the FCA value assessment framework. In a follow up presentation, recorded in November 2021, Giles considers the FCA findings following a review of implementation of the UK framework and also sets out how the topic is being addressed in the EU, including the ongoing Common Supervisory Action organised by ESMA.

• Legal and Regulatory Update (No 4) November 2021: The key recent developments impacting funds and asset managers from a Global, European and Irish perspective are presented by Giles Swan.

• Outsourcing: Delegation/Outsourcing? The Central Bank of Ireland has proposed cross-industry guidance on outsourcing. In this webinar, Marcus Doherty from BBH and Ann Stock from Vanguard chat about the background to the existing CBI regulatory requirements which apply to fund service providers – specifically fund administrators and depositaries. Their presentation therefore serves as a good primer on this topic as the funds industry await the final guidelines. When the final CBI guidelines are in place IOB will organise a live event to discuss the implications for different entities in the funds sectors including Fund ManCos, Fund Administrators and Depositaries.

• IOSCO and Asset Management – An Update: Who or what is IOSCO? Find out in a recording where Kris Nathaniel-Brighton talks to IOB and provides an update on the current IOSCO work programme related to funds and asset management. Kris identifies a number of initiatives including the forthcoming asset management statistical report, fund leverage and liquidity, ETFs, bond market liquidity, and MMFs. This session was part of an event organised by the CIFD Institute in November for Certified Investment Fund Directors.

• Crypto Currencies -The Questions you Were Afraid to Ask: Brian Lucey, Professor of Finance at Trinity College Dublin, chats with IOB addressing questions many have in relation to crypto currencies- from bitcoin to stablecoins to central bank digital currencies. We hope to chat further with Brian in 2022 about crypto assets generally and consider the rapidly changing environment.

• Fund Liquidity Risk Management – Time is Running Out: A recording of this live event, held on 16th December 2021, will be made available on IOB Learn. Industry experts address the topics identified in the CBI dear Chair letters which issued in 2021 on the topic of liquidity risk management in funds. The panel was led by Carol Mahon, an experienced INED who addressed questions to Ross Allen, Jupiter Asset Management, Declan Curran, Blackrock Asset Management and Conor Kilroy, Irish Funds who updated on changes to the Irish Funds Liquidity Risk Framework document.

The funds team at IOB welcome your feedback on our programmes and events and indeed your suggestions for topics we should consider in the future.

If you have any feedback, queries or suggestions, please contact [email protected]