Investment funds: business models, financial stability risks and regulation

This course will take place over 2 consecutive days at the EUI premises in Florence, Italy. 

Ahead of their attendance, course participants can access approx. 4 hours of video lectures, providing an extensive background to the in-person sessions.

• Equip participants with a comprehensive overview of the main characteristics, objectives and purpose of investment funds as well as of the main actors and types of users.
• Provide participants with an overview of the regulatory framework for investment funds in the European Union.
• Provide key insights on the main characteristics and features of Money Market Funds.
• Provide participants with a relevant overview of sustainability and ESG aspects linked to investment funds.
• Expose participants to relevant knowledge on the main prudential risks associated with investment funds both at micro and macro levels.
• Familiarise participants with state-of-the-art analytical tools for risk monitoring and assessments in the European investment funds sector, with a particular focus on stress testing.
• Expose participants to tools for risk mitigation and prevention.
• Offer a forum for open and critical exchanges among participants on the blind spots of the current framework.
• Introduce participants to the macroprudential approach to investment funds.

8 April 2024

9:00: Access to background content on the online platform

23 April 2024

12:00 – 13:30: Optional: Online Q&A session with course instructors

6 May 2024

9:30 – 9:45: Introduction

9:45 – 10:15: Module 1 – Introduction to risks in the investment funds sector – Massimo Ferrari (ESMA)

10:15 – 11:15: Module 2 – Risk monitoring and assessment – Dorota Okseniuk (ESRB) & Antoine Bouveret (ESMA)

11:15 – 11:30: Coffee break

11:30 – 12:45: Module 3 – Stress testing in the investment funds sector – Antoine Bouveret (ESMA)

12:45 – 14:00: Lunch Break

14:00 – 14:45: Q&A – moderated by Massimo Ferrari (ESMA)

14:45 – 16:15: Module 4 – MMFs – Christian Winkler (ESMA)

16:15 – 16:45: Coffee Break

16:45 – 17:30: Q&A – moderated by Massimo Ferrari (ESMA)

17:30: Social Activity (TBD)

7 May 2024

9:30 – 11:00: Module 5 – Risk mitigation and prevention – Dorota Okseniuk (ESRB) and Olaf Weeken (ESRB)

11:00 – 11:15: Coffee Break

11:15 – 13:00: Module 6 – Practical Activity. Macro Risks: structural vulnerabilities and financial stability considerations – Massimo Ferrari/Antoine Bouveret (ESMA)

13:00 – 14:00: Lunch Break

14:00 – 15:30: Module 7 – Roundtable Discussion

• € 1950 – Private Sector
• € 1650 – Public Authorities (e.g. National Competent Authorities, Central Banks) and European Institutions
• € 750  – Full-Time Professors, PhD Students, Research Associates
• Group discounts available upon request

The fee includes tuition, access to all course materials and pedagogic activities, coffee and lunch breaks and social activities. It does not include travel and accommodation expenses or other local transportation costs (taxis, private cars).

Please submit a certificate attesting your status as a Professor, PhD Student or Research Associate to fbf@eui.eu before registering. FBF secretariat will provide you with a code to register. Seats for academics are limited.

Please note that the payment must be settled two weeks before the start of the course.

A certificate of attendance will be provided to all participants after the course.

CANCELLATION POLICY

• In case you can no longer attend the course, you are required to inform the organisers by sending an email to fbf@eui.eu in order to free a seat for participants on the waiting list.
• In case of frequent cancellations, FBF reserves the right not to accept further registrations from the same person.

For more details, please contact fbf@eui.eu