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EY Cyprus Gold Sponsor At The 6th International Funds Summit

EY Cyprus Gold Sponsor At The 6th International Funds Summit

EY Cyprus was a gold sponsor at the 6th International Funds Summit "Global Funds Industry: The Next Chapter" that took place digitally on an interactive platform, on 16-17 November 2020. The event was organized jointly by the Cyprus Investment Funds Association (CIFA), Invest Cyprus, and IMH. It was under the patronage of the President of the Republic and under the auspices of the Cyprus Securities and Exchange Commission. It was also supported by the Institute of Chartered Accountants in England and Wales (ICAEW) and the International Capital Market Association (ICMA).

 

The 6th International Funds Summit successfully brought together more than 550 local and international delegates, including senior finance and investment professionals representing funds based in Europe, the Middle East, North Africa, Asia, Russia and the USA. During the summit, leading fund managers and administration specialists evaluated the changing competitive landscape in the asset management services sector, while collectively addressing international standardization, regulatory and legal compliance fulfilment criteria and challenges the industry is facing.

 

The summit’s objective was to provide a platform where professionals could share knowledge and experience through conversations, interactive panel discussions, and presentations by high calibre industry professionals and sector leaders. Main topics included the changing landscape of the regulatory industry; funds distribution models across the Globe; the next decade of asset management; sustainable & ethical investing, FinTech and its impact on the funds industry.

 

EY Cyprus participated with Andria Koukounis, Advocate, Director of Financial Services, Funds and Capital Markets, Prountzos & Prountzos LLC – EY Law Services, presented the topic of “FinΤech and Artificial Intelligence in Investment Management.” Since the launch of the FinTech Action Plan by the European Commission, significant steps have been taken to allow innovation to integrate into the EU’s capital markets. During her presentation, Andria, highlighted the key developments and trends in FinTech and the use of Artificial Intelligence in the investment management industry, and analysed the main reasons why asset managers will turn to FinTech and AI for the distribution of their investment products.

 

EY Cyprus guest speaker at the summit, Antonios Broumas, Manager, Digital Law, Platis-Anastassiadis & Associates Law Partnership – associated with EY Greece, member of the EY Law network, presented the topic: “FinTech Regulatory Sandboxes: Trends and Challenges.” FinTech Regulatory Sandboxes, in essence, provide a controlled environment before the Supervisory Authority to enable firms to test their services in real time, according to pre-determined criteria and rules. Antonios, during his presentation, provided a comparative analysis of FinTech Regulatory Sandboxes both within and beyond the EU and presented the key benefits of this novel institution.

 

On the occasion of EY’s participation at the 6th International Funds Summit, Charalambos Prountzos, EY Central, Eastern and Southeastern Europe & Central Asia (CESA) Law Leader, Managing Partner at Prountzos & Prountzos LLC – EY Law, noted: “The funds industry, now more than ever, constitutes an important and promising sector for Cyprus economy. During a time of great economic turmoil, creating a diversified economy is vital. Given the strengths and capabilities of Cyprus, including a strong and skilful workforce, we are in a position to take on the future and establish Cyprus as an important player in Europe. Agility and responsibility are essential in creating the path forward.”

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