The administrative Sanction regime

1. Introduction
2. Agenda
3. Speakers

With the transposition of UCITS V into Luxembourg law, significant changes were made to the administrative sanctions regime applying to breaches of the law by funds, their management companies, their service providers and the respective management teams. The list of wrongdoings potentially giving rise to sanctions has been extended and the types of sanctions revisited so as to inflict harm on potential offenders and deter them from committing the same breaches. Reinforced prevention can avert exposure to a sanctions procedure. Should such a procedure be nevertheless launched against you, certain steps need to be undertaken to avoid or reduce as far as possible the sanctions imposed on you and your organisation.

This 3-hour course gives you more insight into the possible infractions under funds laws as well as the organisations and functions which could be subject to a sanctions procedure. It also details the timeline and steps of a regulatory investigation and provides an analysis of the various processes which can trigger a regulatory investigation giving rise to a sanctions procedure. In addition, the course also maps out the process for responding to the regulator in the context of an administrative procedure as well as the various remedies and options available in the case of such a procedure, including various forms of appeal that can be made against an administrative decision.

Benefits of the program

• Identify possible infractions under the funds law as well as potential offenders;

• Understand the types of sanctions that can be applied by the regulatory authority;

• Understand the timeline and steps of a regulatory investigation;

• Understand potential causes and triggers for a regulatory investigation potentially giving rise to administrative sanctions;

• Identify appropriate answers to the regulator’s questions and requests as well as a list of do’s and don’ts in the context of a regulatory investigation;

• Identify key points for a crisis management plan;

• Identify forms of appeal against a decision to sanction an entity or an individual.

Target Audience

• Directors and managers of funds, management companies, AIFMs and fund service providers including depositaries

• Compliance officers

• Internal legal advisers

• Lawyers