Investment firms - Introduction into the prudential framework under IFR/IFD

In order to be able to carry out their missions, PFS (Professionals of the Financial Sector) must be aware of the increasing number of regulatory requirements applicable to regulated entities in Luxembourg (AML/CTF, MiFID, prudential requirements, corporate governance, etc).

This training gives participants an overview of the Luxembourg PFS market and provides explanations on the main prudential requirements applicable per PFS activity stemming from the investment firms regulation and directive.

By the end of the training course, participants will be able to:

• understand the key components of the prudential framework under IFR/IFD;
• understand the classification of the investment firms;
• understand the principles behind the capital, liquidity and concentration requirements;
• understand the transparency requirements (reporting and public disclosures);
• discuss the key challenges and consequences of these regulatory requirements for the investment firms.

• Regulatory landscape and evolution
• Key components of the prudential framework
• Classification of the investment firms and consideration of the group aspects
• Capital, liquidity and concentration requirements
• Transparency requirements (reporting and public disclosures)

An attendance certificate will be sent to participants.

This training will be coordinated by Jean-Philippe Maes, Partner, and Elena Kazmina, Director at PwC Luxembourg.

• Jean-Philippe Maes is a partner with over 15 years of expertise in Basel III, regulatory reporting, risk management, and internal governance, including Basel IV preparation. He has supported banks, investment firms, and management companies in implementing regulatory frameworks and managing risks from operational to internal models, including COREP/FINREP reporting. Recently, his focus has been on risk appetite frameworks and non-financial risks such as climate, conduct, and reputational risks. Jean-Philippe has led significant projects like designing recovery plans, conducting governance reviews, and training over 600 bankers. He is also a frequent speaker and represents PwC at Luxembourg’s Banks and Bankers’ Association Banking Supervision Committee.
• Elena Kazmina is a director in the regulatory compliance advisory team at PwC Luxembourg with over 10 years of professional experience. She specialises in supporting multilateral development banks, Luxembourg-based credit institutions, investment firms, and management companies in strengthening internal governance, risk management, and compliance with regulatory frameworks such as Basel guidelines, EU regulations, EBA guidelines, and Luxembourg-specific laws. Elena holds certifications from ACCA and GARP in Climate Risk. Her expertise includes Basel III/IV, enterprise risk management, risk appetite frameworks, regulatory reporting, and credit rating methodologies. She has led strategic capital optimisation, risk appetite enhancement, financial product assessments, IFRS 9 audits, and M&A due diligence projects.