EU Financial Services Law: How Financial Institutions Meet Internal Governance and Risk Management Requirements?

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1 Seminar EU Financial Services Law: How Financial Institutions Meet Internal Governance and Risk Management Requirements? Luxembourg, 9-10 November 2015 European Institute of Public Administration European Centre for Judges and Lawyers Seminar Venue Building of the Chambre des Métiers 2 Circuit de la Foire Internationale Room 0.1, ground floor 1347 Luxembourg Introduction Target group Representatives of regulatory and supervisory authorities in the financial services sector; professionals from financial institutions who are in charge of legal and compliance functions; regulatory affairs managers in business and professional associations; academics and other professionals with an interest in governance rules. Description This seminar will bring together the representatives of supervisory authorities and the banking industry to exchange on their practices in relation to the application of internal governance rules in financial institutions. Participants will have an opportunity to discuss supervisory practices adopted by supervisors as well as governance arrangements followed by the industry to satisfy the requirements of the supervisors. Hereby, workshops and case studies will enable participants to gain insight into practical problems faced by companies and different solutions adopted to overcome these problems. Finally, the seminar should serve as a platform for best practice exchange as well as for the discussion about the legal impact of governance rules and challenges coming out from these rules for all actors involved. Learning methodology A balanced combination of presentations, case studies and discussion sessions. The seminar will follow an interactive method and offer participants a platform for questions and exchange with experts. Objectives This seminar aims to provide practical information on how to satisfy internal governance requirements for financial institutions. In addition, it should serve as a platform for exchange of experience and information-sharing regarding the challenges faced when implementing governance rules. The experts will discuss current requirements for internal governance policy in financial institutions, different responsibilities of control as well as practices to be implemented by compliance managers to guarantee sound risk management and control functions in their companies. In this context, experiences gained to date and the question of proper balance between exercising effective prudential regulation and promoting innovation in the financial sector will also be discussed.

2 Programme MONDAY 9 NOVEMBER Registration of participants Welcome and introduction to the seminar Alina Domaradzka, Lecturer and Seminar Leader, EIPA Luxembourg Module 1: Regulatory framework for internal governance and its implementation 1.1 How to Ensure Proper Implementation of Internal Governance Rules? The first two morning sessions concern the regulatory framework for internal governance, supervisors requirements with regard to its implementation and industry s approach to thereof Different responsibilities of control and practices that need to be implemented Internal Governance: definition, benefits, consequences 3 lines of defense model Compliance function, Internal Audit and other control functions to guarantee an effective governance in their companies Different practices of control to ensure compliance with governance rules Henrique Dominguez, CCO Chief Compliance Officer, Banco BTG Pactual S.A., Luxembourg Coffee Break CSSF 12/522: Key internal governance and risk management requirements for the industry and supervisors How supervisors interpret CSSF requirements? Issues posing problems and supervisory practices so far Gaston Colbach, Attaché de direction, Commission de Surveillance du Secteur Financier (CSSF), Luxembourg Module 2: Implementing governance policy from a company perspective 1.2 Governance Issues for Boards of Directors, Managers and Key Persons in Control and Compliance Functions. This afternoon session deals with governance tasks and functions from a business and company perspective. We will look at the invisible links between regulation and business structures Composition, competences and tasks of the board of directors Governance and competences of the BoD The involvement of BoDs in governance and implementation Similarities and differences between supervisory and business governance control or management? The tasks, levels of detail and organisational issues in compliance Leif Thomassen, CEO, LETregulering ApS, Copenhagen, Denmark Coffee Break Workshop and discussion in plenary: What is the ideal role of the BoD in governance? What is the experience with different board structures? The role of committees. Will more committees be an option in the BoD for improving implementation of regulatory issues? Challenges when setting the team of BoD Leif Thomassen End of the first seminar day followed by reception Q&A session: How should the industry adapt its practices to correctly apply the CSSF 12/522 requirements? Lunch Break Case study: A practical approach on how to implement the CSSF 12/552 Henrique Dominguez Coffee Break

3 Programme TUESDAY 10 NOVEMBER 2015 Module 3: Compliance policy and security for financial operations 1.3 How to Adopt an Efficient Compliance Policy? During this morning session we will discuss how it is possible to integrate implementation of regulatory compliance and management instruments Best practices for adopting an efficient compliance policy Central and secondary compliance policies Adequate policies and processes How do companies implement their own single rule book? Governance of consumer affairs and the role of supervisory authorities (EBA, EIOPA and ESMA) Leif Thomassen Coffee break 1.4 How to Ensure the Security for Operations? Key Risks Associated with Money Laundering and the Impact on the Bank s Overall Risk Management The fourth EU Anti-Money Laundering (AML) Directive: New anti-money laundering requirements Main money laundering methods, techniques and typologies The risk-based approach: operational, legal, and reputational risks with regard to money laundering and terrorist financing Potential legal problems: data protection issues and right to privacy Virgil Ivan-Cucu, Senior Lecturer, EIPA Luxembourg Lunch break Case study: Obligations to report suspicious transactions the interface in terms of procedures and relationship between the activities of the actors involved in the AML/CFT system Alina Domaradzka, Virgil Ivan-Cucu and participants Evaluation and end of the seminar

4 General Information Seminar venue Building of the Chambre des Métiers 2 Circuit de la Foire Internationale Room 0.1, ground floor 1347 Luxembourg Tel: Hotel reservations The European Institute of Public Administration has negotiated prices with a number of selected hotels. All rates are including breakfast and tourist tax. You can find the complete list of hotels available here: Kirchberg Hotel Novotel Kirchberg****, at the rate of 145, tel.: ; fax: ; caroline.schons@ accor.com; booking page: com/fr/reservation/bookings.shtml (Customer code: SC Contract No ). Hotel Melia****, at the rate of 149, tel.: ; fax: , reservations.melia.luxembourg@ solmelia.com; thai.luong@melia.com; City Centre Hotel Parc Bellevue***, at the rate of 97, (Reservation code: EIPA). Tel.: ; fax: ; reservation@goeres-group.com; Should you wish to make use of this possibility, please phone or fax the reservation department of the hotel on one of the abovementioned numbers and mention the relevant reservation code. Payment is to be made directly and personally to the hotel on checking out. Travel When travelling by car, you may park your car in one of the car parks mentioned below: Parking P&R A, Circuit de la Foire internationale Parking Auchan (entrance via rue Carlo Hemmer) Parking Chambre des Métiers, entrance via rue Alphonse Weicker (free of charge) When travelling by train and/or bus, Bus lines 1 and 16, with departure every ten minutes, go in direction Kirchberg, and stop at Kirchberg, stop John F. Kennedy which is within 5 minutes walking distance from the Chambre des Métiers building, where EIPA Luxembourg s premises are located. When travelling by plane, Bus line 16 (Eurobus), links Findel Airport to the city centre and the station area, leaves every 10 minutes and stops at bus stop John F. Kennedy 2. What to know about luxembourg Meals Lunches on 9-10 November 2015 as well as the cocktail on 9 November 2015 have been organised at the foyer of the Chambre des Métiers. Should you require a special menu (e.g. vegetarian, diabetic) please inform the Programme Organiser so that this can be arranged. Participation The fee applicable to each activity is clearly indicated on the registration form. Unless otherwise stated on the registration form, the fee includes participation in the activity, lunches and beverages during the activity, documentation and participation in the reception/cocktail. Travel and accommodation costs are at the expense of the participant or his/her administration. Pre-payment of the fee is a condition for participation in an activity. Prior to the activity each participant will receive an invoice which can be paid by bank transfer or by credit card. Registration You may register through our website using the online registration form or by faxing or mailing the attached registration form duly completed. Discounts EIPA s Civil Servants special discount EIPA offers its members a discount of 10% off the registration fee for certain seminars and training courses. This discount is available to all civil servants working for one of EIPA s member countries and for officials working in the EU institutions. If you are an official in the public administration (central or sub-national level) in one of EIPA s member countries or an EU institution or agency, please tick the relevant box on the registration form when registering for a seminar or training course. You will then automatically receive an invoice for payment of the fee with the 10% discount applied. Early registration discount For this seminar, EIPA Luxembourg offers a 50 discount for all registrations received and paid before 5 October Please note that discounts cannot be accumulated. It is clearly stated on EIPA s website which seminars and training courses are eligible for the reductions. Full fees apply to all other seminars and training courses. For more information, please visit EIPA s website: eipa.eu (FAQ special discounts). Confirmation Confirmation of registration will be forwarded to participants on receipt of the completed registration form. Cancellation policy EIPA reserves the right to cancel the seminar up to two weeks before the seminar starting date. In that case, received registration fees will be fully reimbursed. EIPA accepts no responsibility for any costs incurred (travel, accommodation, etc.). For administrative reasons, a fee of 150 will be charged for cancellations received after 26 October There is no charge for qualified substitute participants. The mention of a speaker s name in the programme does not commit EIPA. In the event that an announced speaker does not appear, EIPA will do its utmost to find a suitable replacement.

5 Registration Form EU Financial Services Law: How Financial Institutions Meet Internal Governance and Risk Management Requirements? Luxembourg, 9-10 November 2015 Surname:... Title:... M / F First name:... Organisation:... Department:... Current position:... Work address:... Postal code & Town:... Country:... Telephone number:... Fax number:... address:... Invoice information Organisation:... Department:... Address:... Postal code & Town:... Country:... VAT number:... Your reference number:... address:... Payment The fee includes participation in the seminar, documentation, two lunches, a reception and beverages , Early registration made before 26 October 2015 Discount of 10% (Please check first the conditions at (FAQ - special discounts)) Method of payment Bank transfer Credit card American Express card Eurocard/Mastercard Visa card Card number:... Expiry date:... /... Name card holder:... (in case this differs from above) Address card holder:... (in case this differs from above) Postal code:... Country:... (in case this differs from above) Card Validation Code:... (the last three digits on the back of your card) Exempt from VAT by virtue of Article 11, Para. 1 (o), Sub-para. 2 of the Dutch Law on VAT of 1968 Meals Vegetarian Fish allowed Other dietary requirement:... Please return the completed registration form to: Ms Juliette Mollicone-Boussuge, European Centre for Judges and Lawyers, EIPA Luxembourg, Circuit de la Foire Internationale, 2, LU-1347 Luxembourg, Tel.: , Fax: , j.boussuge@eipa.eu Your name and address will be part of EIPA s database for our mailing purpose only. Please tick if you do not want to be included in our mailing database.