|DURATION||5 two days modules (12 hours per module), 1 module per week during 5 weeks|
|NEXT TRAINING|| |
Module I : 19 and 26 April 2018
« For further dates, please contact us. »
9:00 - 16:30
|PLACE||Luxembourg Lifelong Learning Center (LLLC) |
13, rue de Bragance
Customized to your needs
|EVALUATION METHOD|| |
A test for validating the knowledge is proposed for each module
Tests will be planned 2 weeks after the last module (except school holidays)
|CERTIFICATION||Certificate of participation and of achievement per module, or for the complete programme where applicable|
|LANGUAGES||English and French|
|NUMBER OF PARTICIPANTS||15 people maximum per module|
|REGISTRATION FEES||190€ per day, i.e. 380€ per each 2-days module|
|MULTIPLE REGISTRATIONS FOR AN ENTITY||To register for more than one participant to one or more modules, we invite you to address your request to mifid2@LLLC.lu|
CSSF circular 17/665 regarding the implementation of the ESMA Guidelines for the assessment of knowledge and competence. The professionals shall comply with this circular as from 3 January 2018.
This training aims to acquire the knowledge and competence related to the criteria described in the CSSF circular 17/665 with regards to the ESMA Guidelines for the assessment of knowledge and competence.
At the end of this training, the participants will be able to demonstrate that they possess the necessary knowledge and competence to fulfil their obligations under Articles 24 and 25 of MiFID II.
Progressive and modular approach :
Module I – General Principles of Financial Markets
Module II – Portfolio Management / Financial Instruments
Module III – Investment Products
Module IV – Risk & Return
Module V – Client Relationship, Compliance, AML
5 two days modules, 60 effective hours of training. All CSSF 17/665 circular points are covered.
The persons concerned by this training programme are people giving investment advice and/or providing information on financial instruments, investment services or ancillary services to clients on behalf of a professional, or for their own account, under the prudential supervision of the CSSF.
For all interested persons.
Our complete training programme is offered in 5 modules. One module per week during 5 weeks. It is possible to register for one or more modules, or for the complete programme. The training is also offered internally, in our customers’ premises, and adapted to their specific needs.
Duration of each module: 12 hours (2 days).
Days and time of training :
Thursday 9:00 - 16:30.
|Thursday and Thursday/Wednesday ..................... ....................... Mardi et mardi|
|Module I||19 and 26 April 2018||20 et 27 mars 2018|
|Module II||3 and 9 May 2018||17 et 24 avril 2018|
|Module III||17 and 31 May 2018||2 et 8 mai 2018|
|Module IV||7 and 14 June 2018||15 et 29 mai 2018|
|Module V||21 and 28 June 2018||5 et 12 juin 2018|
|Type of training||Participant||Intra-entreprise|
|Price per two days module || |
380€ per participant
|Place of training ||CSL/LLLC - Luxembourg||Customer’s premises *|
*Training rooms can be put at your disposal.
Our prices include the material in the language of the training, the certification and the lunch.
C* . =.. people giving investment advice.
I* ...=...people providing information.
For information, please see the CSSF 17/665 circular points to be covered in the list hereafter.
|Module I – General Principles of Financial Markets|
|No prerequisites |
|Circular points : C*5, C*6, I*4, I*5 |
|1. Economy|| |
|2. Events, Indicators, Impacts|| |
|3. Financial markets|| |
|4. Evolutions, psychology, analyzes|| |
|Module II – Portfolio Management / Financial Instruments|
|Prerequisites : Module I or equivalent knowledge|
|Circular points : C*10, C*11, C*12, I*9, I*10 |
|1. Financial instruments: characteristics and valuation|| |
|2. Markets and operations: introduction|| |
|3. Portfolio Management|| |
|4. Tools and Limitations of Portfolio Management|| |
|Module III – Investment Products|
|Prerequisites: Module I or equivalent knowledge |
|Circular points : C*1, C*2, C*4, C*9, C*10, I*1, I*2, I*8. I*9 |
|1. Investment productst|| |
|2. Cost structures|| |
|3. Documentation of Investment Products|| |
|4. Investment products and clients|| |
|Module IV – Risk & Return|
|Prerequisites : Module II, III or equivalent knowledge |
|Couverture des points suivans de la circulaire : C*1, C*7, I*1, I*6 |
|1. Return|| |
|2. Communication of Return and Performance|| |
|3. Measurement of Risk|| |
|4. Risk and Customers|| |
|Module V – Client Relationships, Compliance, AML|
|Couverture des points suivants de la circulaire : C*3, C*4, C*8, I*3, I*7 |
|1. Investment Advisory Activity|| |
|2. Knowledge of his/her client|| |
|3. Anti-money laundering|| |
|4. Market abuse|| |
LLLC- MIFIDII Training Plan (Correlation table)
|Ref. CSSF||Person providing investment advice||Ref. CSSF||Person providing information on investment products||Modules|
|C*1||understand the key characteristics, risk and features of the investment products being offered or recommended, including any general tax implications to be incurred by the client in the context of transactions. Particular care must be taken when providing advice with respect to products characterised by higher levels of complexity;||I*1||understand the key characteristics, risk and features of those investment products available through the professional, including any general tax implications and costs to be incurred by the client in the context of transactions. Particular care must be taken when giving information with respect to products characterised by higher levels of complexity;||III - IV|
|C*2||understand the total costs and charges to be incurred by the client in the context of the type of investment product being offered or recommended and the costs related to the provision of the advice and any other related services being provided;||I*2||understand the total amount of costs and charges to be incurred by the client in the context of transactions in an investment product, or investment services or ancillary services;||III|
|C*3||fulfil the obligations required by the professional in relation to the suitability requirements including the obligations as set out in the Guidelines on certain aspects of the MiFID II suitability requirements (as defined in the Guidelines);||I*3||understand the characteristics and scope of investment services or ancillary services;||V|
|C*4||understand how the type of investment product provided by the professional may not be suitable for the client, having assessed the relevant information provided by the client against potential changes that may have occurred since the relevant information was gathered;||III - V|
|C*5||understand how financial markets function and how they affect the value and pricing of investment products offered or recommended to clients;||I*4||understand how financial markets function and how they affect the value and pricing of investment products on which they provide information to clients;||I|
|C*6||understand the impact of economic figures, national/regional/global events on markets and on the value of investment products being offered or recommended to clients;||I*5||understand the impact of economic figures, national/regional/global events on markets and on the value of investment products on which they provide information;||I|
|C*7||understand the difference between past performance and future performance scenarios as well as the limits of predictive forecasting;||I*6||understand the difference between past performance and future performance scenarios as well as the limits of predictive forecasting;||IV|
|C*8||understand issues relating to market abuse and anti-money laundering;||I*7||understand issues relating to market abuse and anti-money laundering;||V|
|C*9||assess data relevant to the type investment products offered or recommended to clients such as Key Investor Information Documents, prospectuses, financial statements, or financial data;||I*8||assess data relevant to the investment products on which they provide information to clients such as Key Investor Information Documents, prospectuses, financial statements, or financial data;||III|
|C*10||understand specific market structures for the type investment products offered or recommended to clients and, where relevant, their trading venues or the existence of any secondary markets;||I*9||understand specific market structures for the investment products on which they provide information to clients and, where relevant, their trading venues or the existence of any secondary markets;||II - III|
|C*11||have a basic knowledge of valuation principles for the type of investment products offered or recommended to clients;||I*10||have a basic knowledge of valuation principles for the type of investment products in relation to which the information is provided.||II|
|C*12||understand the fundamentals of managing a portfolio, including being able to understand the implications of diversification regarding individual investment alternatives.||II|
Article 1 : Registration
To enroll in a module, the candidate registers at least 10 days before the beginning of that module.
You can register online at www.LLLC.lu or fill in the registration form and deliver it in person or send it by mail, fax or email to the LLLC, no later than 10 calendar days prior to the beginning of the module.
Article 2 : Admission
The candidate will receive the confirmation of the registration together with the invoice. The registration is effective once the tuitions fees have been paid.
Article 3 : Payment terms
The registration commits you to the immediate payment of registration fees by credit card, Digicash, or bank transfer to the following account:
CSL/Luxembourg Lifelong Learning Center
Code BIC/SWIFT : BCEELULL
N° IBAN : LU69 0019 1055 9340 4000
If you fail to pay registration fees, you are no longer authorized to attend the training, neither to pass the test or to receive the materials. The Chambre des salariés might take any legal procedure to recover the fees due.
If you register during the 14 days prior to start date of the training, you agree that the course begins before the expiry of your withdrawal period. In case of withdrawal before the beginning of the training, the participant is entitled to a full reimbursement. Once the training has started, the reimbursement will be made on a prorata basis of the training not attended.
Article 4 : Cancellation
The LLLC reserves the right to cancel a training on the grounds of low registrations, force majeure, unavailability of instructors or on any other grounds. In this case, registration fees paid will be reimbursed and you will be notified as soon as possible.
Article 5 : WITHDRAWAL
All withdrawals must be notified in writing to the LLLC. You may withdraw from a training without penalty within 14 days of registration (withdrawal period).
After this period, the LLLC reserves the right to charge cancellation fees. In case of withdrawal before the beginning of the training, 10% of the total payable amount is due, except if the LLLC has been informed by letter at least 15 working days before the beginning of the training.
In exceptional and duly justified cases (serious illness, accident, etc.), the LLLC may fully reimburse registration fees even if the withdrawal notification is received less than 14 days prior to the beginning of the seminar or after the seminar start date. Decisions taken by the LLLC in this matter are discretionary.
It is however possible to register another candidate in instead of the person initially registered. This change has to be confirmed by writing to the LLLC before the beginning of the training.
Article 6 : Trainer and content
The content of the material, the trainer and the programme announced on the website are subject to changes until the beginning of the training.
Article 7 : Attendance
The attendance to the class is compulsory for the admission to the validation tests of the various modules.
When the training fees are paid by the employer and/or when the modules are part of a training plan and/or when the training hours are accounted for as working time or give rise to compensation, the employer can ask to obtain the confirmation of the attendance of the employee to the training. By signing the present general conditions, the participant agrees that the LLLC communicates this information to the employer.
The participant has the possibility to ask the trainer to confirm his attendance by signing a statement of attendance, which might be annexed to a request of refund of the compensatory allowance paid within the framework of a personal leave for training, if necessary.
Article 8 : Training material
The materials are subjected to copyright and are reserved for the exclusive use of the participants in the course of the training or the examinations. It is forbidden to reproduce them and to communicate them to the public, even partially.
Article 9 : COMMUNICATION
The participant can choose to receive information about the trainings either by mail or e-mail. The certificates of participation and success are sent by mail.
Article 10 : VALIDATION TEST
Each participant must present himself to the validation test organized for each module, at the place, date and time as communicated by the LLLC.
Article 11 : VALIDATION OF ONE OR MORE MODULES
The participant passes the test of each module when he gets the average.
Article 12 : APPEAL
The decision of the LLLC is irrevocable.
ARTICLE 13 : Processing data
By setting up a user account and registering online at www.LLLC.lu or by sending a duly completed registration form to the LLLC, you authorise the LLLC to electronically process your personal data in accordance with the law of 2 August 2002, as amended, relating to the protection of persons with regard to personal data processing. On request, you may have free access to the data concerning yourself at reasonable intervals and without excessive delays.
Some personal data may be supplied to third parties, in particular to the CSSF.
Article 14 : Results
By accepting the general terms and conditions, the participant authorizes the LLLC to communicate the results to his/her employer upon request, when the employer has paid the registration fees to the training and/or when this training is part of a training programme.