Updates to the Model Discretionary Investment Management Agreement (IMA)

This training session will provide attendees with a solid grounding in the recent changes made to the Investment Association’s Model Discretionary Investment Management Agreement (IMA) template published in 2021 and developed in collaboration with Norton Rose Fulbright LLP.

Attendees will, by the end of the session, have a good understanding of the latest updates to the model IMA, focusing on changing environmental, social and governance (ESG) requirements impacting managers and considerations relevant to the use of derivatives and securities financing transactions.

The training will be interactive, enabling attendees to gain real value from it as well as support with any updates to the model IMA they find particularly challenging. To assist with the learning process, there will be discussions around key commercial negotiation points, as well as an explanation of the rationale underpinning the key recent updates to the document.

The programme has been developed by the Investment Association in collaboration with Norton Rose Fulbright LLP.

Key Learning Objectives

Develop an understanding of the various regulatory changes to the model IMA, focusing on those relating to:

• UK / EU ESG regulations and their application to managers; and
• the use of derivatives in the context of UK / EU EMIR and UK / EU SFTR.

14:00 Introduction and overview
This session will set the scene by providing a high-level overview of the changes to the model IMA, including those made as a result of Brexit.

14:30 ESG spotlight
A focused session to talk through the application of UK / EU ESG regulations to managers in light of the model IMA terms, and possible drafting solutions.

15:30 Coffee break

15:45 Derivatives spotlight
An in-depth look at the derivatives provisions in the model IMA, focusing on the UK / EU EMIR and UK / EU STFR regimes.

16:45 Questions

17:00 Session close

Anyone who wishes to deepen their understanding of the structure and terms of the model IMA further to the latest updates. The training session will appeal in particular to those whose role involves them in the development or negotiation of IMAs and those needing to understand how IMAs are drafted to enable compliance with regulatory requirements (such as legal and compliance professionals).

A certain amount of knowledge of the structure and content of IMAs will be assumed in this training session, along with a basic level of understanding of ESG and derivatives regulations.

Hannah Meakin

Hannah Meakin is a partner in the financial services group at Norton Rose Fulbright LLP. Her practice focuses on market infrastructure, commodities derivatives and FinTech. She advises on all aspects of compliance with relevant PRA and FCA requirements and has particular knowledge of brokerage, exchange trading, clearing, settlement, custody, client money and wholesale conduct. Hannah helps clients understand and implement financial services legislation, including MiFID II, MAR, EMIR and the CRR, and has led client projects on each of these. Her clients include both financial institutions and unregulated entities such as the trading and treasury teams of corporates. She also supports a number of industry bodies. Much of Hannah's work has involved working with different parts of the industry, including CME Group, FIA Europe, banks, brokers, energy companies and other end users.

Jochen Vester

Jochen Vester is a counsel in the financial services group at Norton Rose Fulbright LLP and has in-house experience in both the buy-side and the sell-side sectors. Jochen advises on all regulatory matters pertaining to market infrastructure, trading, clearing, settlement and global custody. He has particular knowledge of regulatory matters pertaining to treasury functions, regulatory capital and derivatives.

Daniel Nevzat

Daniel Nevzat is an advisor within the financial services and government relations practices at Norton Rose Fulbright LLP. He advises clients on financial regulatory and policy matters, with a particular focus on environment, social and governance (ESG) and sustainable finance. Daniel provides regulatory advice on complex matters, strategic counsel and advocacy support, drawing on his knowledge of regulation, policy and process. Daniel advises a range of clients, including asset and wealth managers, banks, international financial institutions and trade associations. He assists clients at each stage of the rule-making process, from consultation and the development of primary and secondary legislation, regulation and guidance, through to the implementation of final rules.

IA Member £395.00 +VAT
Non-Member 545.00 +VAT

Pay using a credit card online, or if you wish to be invoiced please email your full details to: Training@theia.org

PLEASE NOTE: Full payment for the course must be made prior to the course commencement date.

• Any cancellation must be made in writing.
• For all cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable.
• No refund is given for a cancellation made 14 days or less prior to the commencement of a course.
• Transferring from one course to another is treated as a cancellation.
• You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.

Hybrid Training Courses:

Hybrid deliveries of our training allows participants on our courses the option to attend in-person here from our offices at Camomile Court, or you can attend virtually via MS Teams.

Please be advised a training course could change from hybrid delivery to solely virtual delivery. In such an event, we will inform delegates at least one week prior to the course delivery date.

There are a limited number of in-person spaces available on this course and this will be allocated on a first come first served basis.