The workshop covers all topics that you need to set up and implement a compliant Financial Instrument (FI) in 2014-2020 and beyond. It will give you a comprehensive overview on the legal basics and best practice. In addition participants receive information on monitoring, audit and control in FI and the re-use of resources allocated of FI.Download Programme Share
The target of this practical two-day workshop is to offer space for staff from managing authorities, intermediate bodies and the financial institutions involved in the implementation of ESIF-funded financial instruments where they can exchange and discuss their experience and good practice and find guidance for future cooperation. Our advanced workshop will support a sound selection and remuneration of financial intermediaries in compliance with State aid, general block exemption regulation and public procurement rules. An additional focus lies on how to ensure a smooth cooperation between all bodies implementing FIs on different management levels, the challenges of good communication, continuous monitoring as well as of financial management and case studies of well implemented projects.
The participants will be actively involved in the workshop. The sessions will combine presentations, case studies and discussion on practical problems. You will have ample opportunities to present your own problematic issues and discuss them with the speakers and participants from other Member States.
Who should participate?
- Legal experts and risk managers from managing authorities in charge of financial instruments, e.g. from ministries of finance, economic affairs and regional development
- Experts from intermediate bodies responsible for set up and implementation of FIs
- Fund of Funds and Holding fund managers
- Staff from financial institutions or development agencies involved in FIs implementation
- Employees of national promotional banks (NPBs) co-financing projects and investment platforms
- ESIF Compliance officers
- Financial controllers and auditors
- Legal counsels and consultants advising managing authorities or financial intermediaries
Why should you participate?
- Increase your knowledge of the implementation and management of financial instruments, especially in relation to the cooperation with financial intermediaries
- Have a clear understanding when EU regulations have primacy and when national laws have to be applied
- Be aware of the compliance requirements with other law regimes such as State aid and public procurement rules
- Improve the design and implementation of funding agreements
- Get to know the business perspective on how to create a strong investment portfolio
- Benefit from another Member State’s implementation experience and learn good practices
- Have a platform to exchange ideas and challenges within their organisation and receive practical advice on current cases
Discuss your own cases and get answer to the questions arising in your daily practice: Just send to us your cases and questions in advance! We will forward them to our speakers, who will include your issues in the programme and answer them during the training. All information concerning such problems and cases will be treated confidentially.
Day 1: Thursday, 14. March | 08:30 - 17:30
Registration & Welcome Coffee
Welcome by Lexxion & Introduction Round
Introduction: Set Up and Implementation of Financial Instruments (FIs) in 2014-2020 Programming Period: Objectives, Main Rules and Regulatory Framework
- What are Financial Instruments?
- Centralized and decentralized FIs
- The legislative framework for decentralised financial instruments (Common Provision Regulation – CPR; Delegated and Implementing Regulations; European Commission Guidelines for the Member States; Omnibus Regulation)
- Models for financial instruments under Article 38(4) CPR
- Fund of Funds
- Tailor-made and off-the-shelf FIs
- Requirements on Funds of Funds/ financial intermediaries (from Delegated Act and CPR) and their liability
- Ex-ante assessment and Investment strategy: role, structure, update
- Selection of bodies implementing FIs
- Funding Agreement: role and structure
- Main types of financial instruments and adequate implementation structures: Loans, Guarantees, Equity and Quasi-Equity
Coffee Break & Networking
Set Up and Implementation of Financial Instruments in Practice
Here participants learn how to set up and implement FIs with hands-on practical examples and cases. The cases will cover – among others – selection of bodies implementing FIs, update of ex-ante assessment and investment strategy, set-up of loan and guarantee instruments (identification of target group, optimal implementation structure, main parameters of the financial products and results indicators)
Key Elements of Sound Financial Management of Financial Instruments
- Management Costs and Fees – legal framework, calculation, eligibility of expenditures
- Eligibility of expenditures in case of Loans, Guarantees, Equity and Quasi-Equity
- Transferring the programme contribution to FI
- Re-use of Resources Allocated of Financial Instruments during eligibility period
- Winding-up procedures
Combination Financial Instruments with Grants and with European Fund for Strategic Investments (EFSI)
- Set-up of the combined support scheme -loan and grant (basic rules defined on EU and national level)
- Embedment in the national support system (co-existence with grants and independent financial instruments)
- Application under different thematic objectives, so far experiences
European Fund for Strategic Investments (EFSI)
- Legal framework
- Key features and benefits
- Possibilities in use at project level or Financial Instruments
- Risk analysis and management
Coffee Break & Networking
Monitoring, Audit and Control in Financial Instruments
- Monitoring and evaluation system; monitoring requirements
- Result orientation
- Indicators and Milestones for FIs
- Internal Control System
- The regulatory requirements for the management and control of FIs (Art. 40, 41 CPR, Article 9 / Reg.480/2014)
- Verification of the Investment Strategy
- Management Costs and Fees
- Cooperation with an Audit Authority
- Audit Requirements for Verifications
End of Day 1
Day 2: Friday, 15. March | 09:00 - 15:00
Irregularities in the Implementation of Financial Instruments
- Definition and concept of irregularities and the risk of irregularities under financial instruments.
- Main areas and levels of irregularities in the programming and implementation of financial instruments.
- Proceeding in case of irregularities.
- Rules for determining the amount of financial corrections in case of irregularities.
- Cases from Poland
Coffee Break & Networking
Re-Use of Resources Allocated of Financial Instruments
- Legal Framework (2007-13, 2014-20)
- Limitations and room for manoeuvre
- A Member State’s approach
- Perspectives for 2020+
- Cases from Poland
Financial Instruments Beyond 2020
- ESIF financial instruments 2007-2013 and 2014-2020
- InvestEU: basic features and regional policy aspects
- CPR post 2020 – plans of the European Commission
Open Questions & Answers
End of Workshop and Distribution of Certificates
*Programme may be subject to change.