Regulatory Framework and Financial Management

Introduction

The training Course “Institutional Framework and Financial Management” is structured in two self-contained teaching/thematic units, lasting three and four months respectively. The Corporate Finance and Law Course aims to inform both beginners and experienced professionals, financial directors, bank executives, lawyers and managers about the framework and operation of new and less widely known forms of corporate financing, such as crowdfunding, floating charges, redeemable shares, etc., and to present solutions to topical issues arising from bond loans and new financing-legal practices, such as the provision of microcredit under the new Law 4701/2020.

Units

I. Rules for Documenting the Prices of Intra-group Transactions – Transfer Pricing (Duration 1 month / 16 hours / 0.62 ECTS)

The aim of the Unit is to define transfer pricing, to analyse why its application began in multinational groups and how the transfer pricing process has evolved within the international tax framework, including the OECD Guidelines for the audit of transfer pricing transactions. Accordingly, the aim of this Unit is to inform participants about and present the following topics:

Provisions of Laws 4172/2013 (Income Tax Code) and 4174 (Code of Tax Procedure) concerning intra-group transactions and the new methodology for their advance pricing approval, with all the amendments made to date
Which businesses or entities are considered related parties under Law 4172/2013, and which of them fall under the provisions of Articles 21 & 22 of Law 4174/2013 (Tax Procedure Code) regarding the submission of a summary table and/or the preparation of a documentation file
Compliance of intra-group transactions with the arm’s length principle for transfer pricing documentation
The current framework for the advance approval of transfer pricing methodology, as laid down by Laws 4172/2013 and 4174/2013 (Articles 21 & 22) and Decision POL. 1097/2014 of the General Secretary for Public Revenue
Internationally accepted Transfer Pricing methods (OECD, EU, other countries), as well as future developments in this field in the Greek tax environment following the application of Law 4172/2013 & Law 4174/2013, as amended and in force.

II. Corporate Finance and Law (Duration 3 months / 52 hours / 2 ECTS)

The aim of the Unit is to begin by analysing the traditional forms of financing, so that participants progressively gain, beyond knowledge, valuable criteria for distinguishing between and selecting forms of financing, as well as information on the latest developments in the field. In addition, more specialised self-contained sections are presented concerning the financing of banking institutions (e.g. CoCos), with emphasis also placed on the related assessment and management of legal and business risk. The new, updated Course includes the following important additions: bond loans under Law 4548/2018 are analysed in greater depth; the new law on microcredit is presented; financing through a stock exchange listing is presented; the acquisition of own shares by an S.A. and the prohibition of financial assistance for the acquisition of shares are reviewed; and specific issues relating to the financing of credit institutions themselves are examined. The ultimate goal is in-depth knowledge and an overview of modern forms of corporate financing, as well as the provision of a toolkit of solutions in more specialised fields that require cutting-edge institutional “technology”.

III. The New Bankruptcy Law (Duration 4 months / 71 hours / 2.73 ECTS)

The aim of the Unit is to provide in-depth information to both beginners and experienced business owners, finance directors, business consultants, bank executives, executives of companies involved in business restructuring, lawyers and managers on new pre-insolvency restructuring procedures, such as the out-of-court debt settlement mechanism for businesses as it will be reshaped under the New Bankruptcy Law currently being voted on, as well as on innovative institutions of Bankruptcy Law, such as the recently enacted discharge of the remaining debts of the honest bankrupt debtor who is a natural person – the “second chance”. The second chance aims to reintegrate thousands of insolvent businesses into entrepreneurship, offering them a fresh start. In addition, the simplified bankruptcy procedure for small businesses is presented. The Course will cover the main aspects of the New Bankruptcy Law, which is expected to be passed by early September and of which a Draft has already been published, focusing mainly on the conditions and methods for declaring bankruptcy. At the same time, a concise yet thorough overview of the stages of the classic bankruptcy procedure will be provided. The Course will continue to focus on specialised topics and practical issues of business restructuring at the pre-insolvency stage under the New Bankruptcy Code, such as the prepackaged plan, as well as on the changes to these already published in the relevant Draft of the New Bankruptcy Law. Furthermore, it will address the topic of “Consumer Bankruptcy”, which is now incorporated into the New Bankruptcy Law. On completion of the Course, participants will have gained a holistic understanding of modern bankruptcy law and become familiar with more specialised topics, obtaining a certificate that attests to in-depth knowledge of the subject and its parameters.

Scientific Director

Emmanuel Tsiritakis,

Professor, Department of Banking and Financial Management, University of Piraeus

Target Audience

The course is aimed at:

Heads of economic and financial departments, executives and heads of accounting departments, bank executives, certified auditors, accountants, tax consultants and, in general, anyone involved in transfer pricing
Students and graduates of schools of economics, business administration, and banking and financial management, accountants, executives of banking institutions, executives of companies dealing with corporate restructuring, law graduates and lawyers specialising in bankruptcy, corporate and commercial law, as well as vocational training institute (IEK) students interested in the subject

Admission Requirements

Participants must have:

Basic computer skills
Internet access
A personal email account

Delivery Method

The Course is delivered entirely online through simple educational software (an asynchronous e-learning platform), with digital Educational Material and continuous educational support. Once a candidate has been accepted onto the Course, a user account is created on the e-learning platform, giving access to the Unit of their choice. Within each Unit, the responsible instructor’s electronic Educational Material is posted on the e-learning platform on a weekly basis. The Educational Material includes electronic notes with theory and examples in PDF format, which can be saved and printed so that study is also possible offline. During the Course, assignments or self-assessment tests may be set. Trainees have access, at any time and from anywhere with an Internet connection, to all the activities, information sources and announcements of each Course, and are provided with the instructor’s contact details for resolving queries. Participants should:

study the material and the notes
use the links related to the course material
submit assignments, self-assessment tests and final examination answers

Type of Certificate

Trainees who successfully complete all the Units of the Course are awarded a Training Certificate by KEDIVIM of the University of Piraeus. Trainees who choose to attend only some of the thematic units are awarded a Training Certificate listing the Teaching/Thematic Units successfully completed. Where successful completion of the Course is not possible due to discontinuation of studies or failure in the examinations, the trainee is awarded a Certificate of Attendance by KEDIVIM of the University of Piraeus.

See a sample of the certificates awarded, as applicable, here

Teaching/Thematic Units

1Teaching/Thematic Unit 1: Rules for Documenting the Prices of Intra-group Transactions – Transfer Pricing

1.1 The arm's length principle – Transfer Pricing – Reasons requiring a “Comparability Analysis” – Concept & definition of related parties & group: legislative framework

1.2 OECD Guidelines – Detailed presentation of the provisions in force since 2015 (Laws 4172 & 4174/2013, implementing decisions) – Intra-group transactions (Preparation of documentation files and their content: Master File – Greek Local File) – the obligation to submit a Summary Table

1.3 Analysis of the accepted methods for pricing intra-group transactions – Comparables and their review & the use of databases – Documentation methods

1.4 DOCUMENTATION FILE TEMPLATE – and sample files – Summary Table – ADMINISTRATIVE PENALTIES – Advance approval of transfer pricing methodology (advance tax ruling)

2Teaching/Thematic Unit 2: Corporate Finance and Law

1. Forms of bank financing I

2. Forms of bank financing II

3. Syndicated Loans

4. Forms of non-bank financing

5. Bond loans under Law 4548/2018 PART I

6. Bond loans under Law 4548/2018 PART II

7. Acquisition of own shares and financial assistance for the acquisition of shares in a Public Limited Company (S.A.) (financial assistance)

8. New forms of collateral and indirect financing

9. Stock exchange listing and the offering of shares through a public offer

10. Risk hedging with swap and forward contracts

11. Managing legal and business risk in financing as petitio rudimental

12. The financing of banking institutions – In particular, the case of CoCos

13. Regulatory compliance issues on the part of the lender (particularly credit institutions)

3Teaching/Thematic Unit 3: The New Bankruptcy Law

3.1. Introduction to the New Bankruptcy Law

3.2. The effects of the declaration of bankruptcy, the filing and verification of creditors' claims and the actions of the insolvency administrator under the new insolvency framework

3.3. The bodies of the bankruptcy

3.4. The assets of the bankruptcy

3.5. The stage of the union of creditors and the liquidation of the bankrupt's estate

3.6. Corporate bankruptcy

3.7. Discharge of natural persons from their debts as a second chance – Partial discharge of legal representatives

3.8. Pre-insolvency restructuring procedures under the Bankruptcy Code, Part I – The prevalence of the direct court ratification procedure (prepackaged plan)

3.9. Pre-insolvency restructuring procedures under the Bankruptcy Code, Part II – The procedure for ratifying the restructuring agreement and judicial review

3.10 Pre-insolvency restructuring procedures under the Bankruptcy Code, Part III – Effects of the restructuring procedure and its annulment

3.11. Pre-insolvency restructuring procedures under the Bankruptcy Code, Part IV – Transfer of a business and case studies

3.12. Bankruptcy of private individuals and consumers – Basic prerequisites and conditions

3.13. Protection of the primary residence of the vulnerable debtor

3.14. The out-of-court mechanism under the Bankruptcy Code, Part I – Basic prerequisites and conditions – eligible debts

3.15. The out-of-court mechanism under the Bankruptcy Code, Part II – The dominance of financing bodies and the participation of the State

3.16. The out-of-court mechanism under the Bankruptcy Code, Part III – Alternative options for the applicant and effects of the agreement

3.17. Other para-insolvency procedures and 'restructuring' procedures outside the Bankruptcy Code – Early warning for taking measures against insolvency

Learning Outcomes

Upon successful completion of the Course, trainees will achieve the following:

✔️ Understanding concepts relating to the regulatory framework

✔️ Understanding the content of documentation files and analyses (industry, company, functional) required, in conjunction with the OECD GUIDELINES

✔️ Understanding documentation methods in conjunction with the national legislative framework and the OECD Guidelines

✔️ Collecting financial data from the business and from databases and processing them for the preparation of the documentation file and the Summary Information Table of the General Secretariat for Information Systems.

✔️ Deadlines – Penalties, Advance approval of the intra-group pricing methodology (advance tax ruling)

✔️ Ability to combine knowledge with inductive and analytical thinking

✔️ Ability to understand complex socio-economic conditions and conflicting interest groups

✔️ Practical application of interdisciplinary approaches to a topic

✔️ Ability to present data in a synthesised way and to prioritise it

✔️ Ability to apply knowledge in practice

Assessment

The examination process takes place remotely via the e-learning platform, with the final examination questions and exercises posted in the form of an assignment with a deadline for submitting answers. Late participation in the final examination may be arranged in consultation with the trainee, provided that no more than one year has passed since their registration in the relevant teaching unit.

Discount Policy

The following discount categories apply:

GROUP A: Unemployed persons, members of large families and families with three children, persons with disabilities, graduates and students of the University of Piraeus, employees of the University of Piraeus (permanent or under contract), municipal employees
GROUP B: Undergraduate students of universities/technological institutes (AEI/TEI) or persons up to 30 years of age holding a European Youth Card, participants of previous cycles, registration for at least two courses in the same period

Please note that:

Discounts are not cumulative.
Each trainee may benefit from only one discount category.
Participants entitled to a discount must submit the supporting documents that will be requested.

Course Fee after discount

	GROUP A	GROUP B	NO DISCOUNT
Total Course Fee	640	770	910
Fee for Thematic Unit 1	60	70	90
Fee for Thematic Unit 2	250	300	350
Fee for Thematic Unit 3	330	400	470

Payment of Fees

Fees are payable in a single payment or in equal monthly instalments, the number of which corresponds to the duration of the Teaching Unit in months, provided that the fees are paid in full 2 weeks before the end of the Teaching Unit. Failure to pay any instalment will result in the automatic exclusion of the candidate from the remainder of the Course, the examinations and the award of the certificate.

Duration:	8 Months / 139 Hours
ECTS:	5.35
Field of Study:	Finance
Language:	Greek
Scientific Director:	Emmanouil Tsiritakis

Units

Delivery Method

Educational Material

(+30) 210 414 2481, 2106, 2025

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