Fund Administration Law
- 3 CPD Hours
The seminar studies the fund industry in Cyprus, with a particular focus on the function of fund administration. The seminar provides an overview of how the fund industry operates, providing key points on the organizational structure of funds and their different characteristics (Section 1). In addition, the seminar studies the profession of Alternative Investment Fund Managers (AIFMs) (Section 2), before it proceeds to analyze the key roles and duties of fund administration (Section 3). In accordance with Cyprus Law, fund administration falls within the function of fund management. Yet, the seminar sets out the prevailing market practice, whereby fund managers will typically only focus on portfolio management and risk management and outsource fund administration. Hence, Section 4 presents the proposed Investment Fund Administration Law (IFA Law), to examine the rationale underlying the proposed law and its key provisions, including provisions on the authorization of fund administrators and the sub-delegation of fund administration.
- Upon completion of this seminar, participants will:
- Have a general understanding of how a Cyprus fund operates;
- Be aware of the different service providers involved in the operation of a fund and their individual roles;
- Know of the characteristics and importance of the function of fund administration, as that has evolved based on commercial needs and outside any regulatory intervention;
- Have understood the most important points of the proposed IFA Law and appreciate the impact that this may have on the different service providers, fund administrators and funds in particular;
Lawyers, Fund Managers, Fund Administrators, Providers of Depositary Services, Individuals with executive and non-executive position in funds and UCITs, compliance officers, anti-money laundering officials, investors, policy officials, licensing service providers, auditors and accountants, university students and generally anyone with an interest in or who is involved in the Cyprus fund industry
Dr. Charis Savvides is an experienced corporate lawyer and law lecturer at the University of Nicosia with both practical and teaching experience in Corporate, Competition and Financial law, as well as in Regulation and Digital Currencies, a course offered by the University in the context of its MSc in Digital Currency.
Dr. Savvides obtained his law degree from the National and Kapodistrian University of Athens in 2005 and continued his postgraduate studies in the United Kingdom, with emphasis on International and European Business Law, obtaining his LL.M in International Commercial Law from the University of Nottingham and his PhD in Law from the University of Sheffield. His doctoral thesis was on competition law and more specifically on the EU regulatory framework on state aids to firms in difficulty.
He is Partner at the law firm Stelios Americanos & Co LLC, one of the largest, full service, law firms in Cyprus, with significant experience in the broader area of financial and investment regulatory compliance and fund administration. He is Head of three Departments of the law firm, namely: (i) Financial & Investment Regulatory Compliance, (ii) Restructuring, Receivership & Liquidation, and (iii) Innovation & Blockchain.
Dr Savvides is regular speaker at professional seminars and conferences, where he shares his knowledge and experience about the regulatory status and trends in the fields of Investment Funds and Cryptocurrencies. In addition, he serves as non-executive director in a Forex company and in a private equity Alternative Investment Fund, both regulated by the Cyprus Securities and Exchange Commission (CySEC).
Gregores Fylaktou is an Associate lawyer at Stelios Americanos & Co LLC, offering his services as a member of the Corporate and Commercial, Financial and Investment/Regulatory Compliance and Innovation and Blockchain departments of the firm. He is a holder of a Bachelors in Law (LLB) from the University of Nottingham and a Masters in Law (LLM) in Commercial and Corporate Law from Queen Mary University of London, where he finished at the top of his class. He is a holder of the CySEC advanced certification and a research contributor on a textbook on EU Financial and Monetary Law. He has an interest in the broader legal technology, investment and banking sectors. His LinkedIn profile can be accessed on: https://uk.linkedin.com/in/gregores-fylaktou-b94859173.
- Categories of AIFs
- Types and characteristics of AIFs
- Types of Investors
- AIF Organizational Structure
- AIF Service Providers
- Fund Management
- Categories of AIFMs
- Capital Requirements
- Role of AIFMs
- Evaluation of the importance of Fund Administration
- Examples of tasks of Fund Administrators
- The delegation of Fund Administration
- Problems with the current regime on Fund Administration
- The Draft Investment Fund Administrators Law and CySEC’s Consultation Paper on Regulating the Provision of Investment Fund Administration Services
- Authorization of Fund Administrators
- Sub-delegation of Fund Administration
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Certificate of Completion