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 is a partner in PwC's Regulatory Compliance services. He leads the firm’s banking and PFS risk Advisory team.

He has over 15 years of experience in Basel III areas and has helped many banks, investment firms and management companies to implement Basel III and prepare for Basel IV. He has worked in most dimensions of risk management, from operational risk to internal models, encompassing reporting aspects (such as COREP/FINREP) and governance matters.

Lately, Jean-Philippe has been focusing on risk appetite frameworks and the management of non-financial risks such as climate, conduct or reputational risks.

Elena is a director in the regulatory compliance advisory team in PwC Luxembourg having more than 10 years of professional experience.

Her core areas of expertise includes topics such as prudential framework stemming from the Basel committee guidelines as well as underlying regulatory reporting and disclosures, internal governance and risk management, ESG and climate risk, financial reporting and disclosures (IFRS).

She holds a certification from the Association of Chartered Certified Accountants (ACCA) and Climate Risk Certificate from Global Association of Risk Professionals (GARP).

Over the past 7 years, Elena worked closely with Luxembourg based credit institutions, investment firms and management companies supporting them in ensuring the compliance with the applicable regulatory and legislative framework, encompassing EU-level regulations and directives, EBA guidelines Luxembourg-specific laws and CSSF circulars.