IFIA Corporate Governance Code for Fund Service Providers

Description

The purpose of the Corporate Governance Code For Fund Service Providers is to provide the board of directors of Administrators, Custodians and Depositaries authorised and regulated by the Central Bank of Ireland (collectively “Service Providers”), with a framework for good practice of corporate governance and oversight. The Code provides a set of principles and guidance but is not intended to be prescriptive, rather a codifying of existing practice combined with what is seen as good international practice.

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This Code has been developed for the industry by the Irish Funds Industry Association (“IFIA”) and is recommended by the IFIA. The Central Bank of Ireland supports this Code and encourages its adoption by all fund service providers.

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Learning Objectives

Learners will attain an understanding of the IFIA Corporate Governance Code for Fund Service Providers and will complete an assessment after completion of the course. The module covers the following:

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Part 1

a) Introduction

b) General Requirements

c) Composition of the Board

Part 1 Knowledge Check

Part 2

a) Chairperson

b) Chief Executive Officer

c) Independent and Non-Executive Directors, Group Directors, Executive Directors

d) Role of the Board

e) Appointments

Part 2 Knowledge Check

Part 3

a) Meetings

b) Reserved Powers

c) Committees of the Board

d) Terms of Reference of the Committees

e) Risk Appetite

f) Compliance with the Code

Assessment

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Timing

The duration of this 3 part module is approximately 28 minutes. Each part is followed by a knowledge check for which we have allocated 4 minutes overall to complete. We have allocated up to 25 minutes for the assessment that follows the completed module.