Fund Oversight under the FCA - In house training course
The Training Environment For Financial Services

Fund Oversight under the FCA

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Outline & Objectives

In the recent Thematic Review of Outsourcing in the Asset Management Industry, the FCA were concerned that only a few managers were able to demonstrate high standards of oversight across their outsourced activities.

This practical one day workshop is intended to provide staff with the appropriate knowledge and skills to provide effective fund oversight. The programme will cover all  aspects of fund management and operations with particular emphasis on high risk areas in fund accounting and transfer agency. It will employ numerous case studies, including: pricing errors, investment & borrowing power breaches, rectification programmes and failures of fund governance together with examples of oversight questionnaires and reports. The particular concerns of the FCA when reviewing fund managers will also be examined

Making extensive use of CASE STUDIES and practical EXAMPLES, the course will provide answers to such key questions as:

  1. How much can I outsource?
  2. What controls does the FCA expect?
  3. How do I carry out oversight of third parties?
  4. How can I help prevent pricing errors?
  5. What controls does the depositary expect?
  6. What do I do if I have a pricing error?
  7. What should be in the oversight questionnaire?
  8. What is an effective fund governance structure?
  9. How many staff do I need?
  10. Where are the key risks?
  11. What should be in the service level agreement?

Who will benefit?

This event will be of value to anyone with fund oversight responsibilities, including Operations and First Line of Defence, Risk Managers, Compliance Monitoring Teams and Internal Audit at Fund Managers or TPAs.

Course Agenda

Topics covered may include but are not limited to:

  • Fund governance
  • Fund documentation issues
  • Fund administration:
  • the Transfer Agent
  • Fund administration:
  • the Fund Accountant
  • Developing an effective control environment for fund accounting
  • Pricing errors
  • Investment & Borrowing Powers
  • The RDR & share classes
  • Offshore funds
  • Governance of fund accounting
  • Risk management
  • Role and Expectations of the Depositary
  • Oversight of Third Parties
  • The FCA Review of Outsourcing Oversight


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