This course commenced on Thursday 2 February 2017. It is no longer possible to book this course online, however late applications may be accepted in certain limited circumstances.
Please discuss directly with the course leader Cian Monahan by emailing: C.Monahan@LawSociety.ie
On completion of this training programme participants will have:
- a comprehensive understanding of the legal structures commonly used to establish investment funds and the different fund products provided for by law and regulation;
- familiarity with the roles played by each of the service providers and advisers in the establishment and operation of fund products;
- an awareness of the process whereby funds obtain regulatory approval and the documentation required for a fund launch;
- an insight into fund structuring and typical fund strategies followed by asset managers and how they relate to regulatory investment restrictions and product rules;
- an introduction to related topics that arise for funds such as: securities lending; the use of derivatives and prime brokers; the listing of funds; exchange traded products; taxation; compliance and regulatory supervision and enforcement.
When the International Financial Services Centre began in the 1980's one of its principal aims was to create jobs for Irish graduates. It exceeded all expectations and the Irish funds industry was one of the sectors which benefitted most. It continues to experience significant growth and now supports thousands of jobs throughout Ireland for fund accountants, custodians and transfer agents supported by other professionals in legal, financial, audit and compliance roles.
Assets under administration continue to grow for both Irish domiciled fund structures and off shore funds serviced here. That growth is matched by a constantly evolving legal and regulatory framework, as complex as it is voluminous. This course will give you a high level overview of that framework, whether you aspire to work in a funds, legal or compliance role or already have some experience. In addition this course will be of interest to non-lawyers working in the funds industry.
The faculty for this course includes lawyers from the funds practices in Dublin law firms and as well as from the Central Bank of Ireland and the Irish Stock Exchange. There are also presenters from the asset management industry both in Ireland and the UK.
The aim of the course is to provide an overview of the system of regulation, compliance, supervision and enforcement affecting investment funds. The course will focus principally on the UCITS and AIFs products, namely undertakings for collective investment in transferable securities and European alternative investment funds. Allied to this will be a review of the principal legal structures used for fund products. The course will also cover other issues such as taxation, listing, exchange traded funds and corporate governance.
This course runs over three months with three modules as follows:
Module 1: Overview
The first module will provide an overview of the legal structures used for funds. The different types of fund products available will be presented. An outline will be provided of the different stakeholders involved together with a detailed presentation about the way in which the regulatory approval process works.
Module 2: Funds regulation
The second module will deal with the product rules and investment restrictions applicable to UCITS and alternative investment funds; the organisational rules for each and an overview about the role of securities lending, derivatives and prime brokers. This module will conclude with a workshop dealing with fund structuring.
Module 3: Related funds topics
The third module will deal with the listing of funds and exchange traded products; taxation; compliance issues such as the prevention of money laundering and the financing of terrorism; regulatory supervision and enforcement. The concluding presentation of this module will deal with international comparisons and forthcoming developments. The course concludes with an examination workshop.
Who should attend?
- Qualified solicitors who wish to expand their knowledge of the Irish funds industry with a view to moving into the area;
- Trainee solicitors and paralegals who are working in the funds industry;
- Directors or relevant professionals working in accountancy firms who wish to familiarise themselves with compliance issues in relation to the funds industry; and
- Service providers and those in consultancy firms working in the area of funds who wish to broaden their knowledge of the regulatory aspects of funds.
It is recommended that non-lawyers working in the funds industry have at least five years' experience although applications from prospective participants with less experience will be considered on a case by case basis. If you are not a qualified solicitor, trainee solicitor or barrister, please apply with a cover letter and curriculum vitae for approval in order to attend the course. If you are relying on work experience for entry to the course, your cover letter must set out the relevant experience. Such applications are subject to a supplemental fee, which amounts to a supplement of €200 in respect of a diploma application.
Lectures will be provided by experienced practitioners in the area and others with expertise in funds law and practice. Our confirmed faculty include:
- Elaine Keane, Partner in the Asset Management and Investment Funds Group, A & L Goodbody;
- Joe Beashel, Partner and Head of Regulatory Risk Management and Compliance Team, Matheson;
- Joseph Gavin, Partner and Head of Financial Services Group, Byrne Wallace;
- Nicholas Blake-Knox, senior vice president and senior legal counsel within PIMCO in London; and
- Gráinne O’Farrelly, Regulation Manager, Irish Stock Exchange.
- Patricia Taylor, Partner, Asset Management and Investment Funds, William Fry;
- Ruth Hogan-Davis, Policy Specialist, Investment Funds, Central Bank of Ireland;
- Andrew Bates, Partner and head of Financial Services, Dillon Eustace;
- Carol Widger, Partner, Investment Funds Group, Maples and Calder;
- Feargal Dempsey, Independent Director and Fund Consultant;
- Jonathan Sheenan, Partner, Walkers; and
- Declan Casey, Director, Irish Funds.
*Every effort has been made to ensure the information contained in these pages is accurate and up to date. However timetables and course content are subject to change and date and time changes may occur due to factors beyond our control.