About this Training
bboWe have the pleasure to invite you to the FSA Resolution Webinar.
The event will be held digitally. Please find below the relevant information:
- Dates: Tuesday 8 June 2021
- Time: 9:00 – 11:50
- Venue: WebEx teleconference: The invite will be shared 24 hours prior to the date
- Deadline for registration: 4 June 2021
The concept of Bank Resolution resulted from the weaknesses of the institutional framework for managing banking crisis that were identified during the 2008 global financial crisis. The post-crisis resolution framework aimed towards the creation of regulation that reduces the costs of failing systemically important institutions for Governments and tax-payers whilst ensuring the preservation of financial stability.
This framework is important because it is another level of protection to protect sovereigns and taxpayers’ money as well as protecting financial stability in general. Complex as the law may be, it adds certainty in the market through the establishment of rules which institutions have to follow. It also puts responsibility on the Authorities to prepare and prevent a situation from deteriorating with all the consequent negative implications that this might create.
The proposed outcome from this session is that attendees become better informed of the underlying concepts of resolution and the EU resolution framework, going through particularly the requirements emerging from the legislation. The discussions shall evaluate the current challenges of this framework and explore future avenues to fine-tune the existing legislative framework so as to make it more robust to, first-and-foremost prevent the failure of an institution, but also to reinforce it in such a manner to better handle a failure in a sound and controlled manner based on the recent, albeit limited, experiences in the application of this framework. Attendees will appreciate the preparation that goes into such a process and also the areas which need to be strengthened going forward. Given that this is a completely new area of expertise, one can look at resolution as an area of growth and a constant learning experience.
About the Lecturers
Christopher P. Buttigieg
Chief Executive Officer ad interim & Chief Officer Supervision, MFSA
Dr Christopher P. Buttigieg is the Chief Officer Supervision and the Chief Executive Officer ad interim of the Malta Financial Services Authority. In his role as Chief Officer Supervision, he is responsible for the coordination and implementation of the supervisory and regulatory strategy across all the sectors under the MFSA’s remit. Prior to his appointment as Chief Officer Supervision, he held the position of Chief Officer Strategy, Policy and Innovation, and before that he was the Head of the Securities and Markets Supervision function. Dr Buttigieg joined the Authority in 2000 and has gained professional experience in different areas of financial regulation, supervision, and enforcement of market malpractice. He was also responsible for implementing various pieces of EU legislation and has led various regulatory and supervisory teams within the Authority. Dr Buttigieg sits on the Authority’s Executive Committee and is a member of the Board of Supervisors of the European Securities and Markets Authority (ESMA) and the European Banking Authority. He is also the Chair of the ESMA Data Standing Committee. He has a commerce degree (B.Com 1998), an accountancy degree (B.Accty. Hons. 2000) and a financial services law degree (M.A. Fin. Ser. 2003) from the University of Malta, as well as a European Union Law degree (M.A. EU Law and Soc 2005). He also obtained a doctoral degree in law (Ph.D 2014) from the University of Sussex (UK). His doctoral thesis deals with the governance of EU securities regulation and supervision. Dr Buttigieg is a senior lecturer in the Banking and Finance Department of the University of Malta and has published various papers in reputable journals, including the European Law Review, the European Company and Financial Law Review, the Columbia Journal of European Law, the Journal of Financial Regulation and Compliance, the Journal of Business Law, and the Law and Financial Markets Review. He is also a member of the Board of Trustees of the Academy of European Law in Trier and a visiting lecturer at the same institution.
Director of Resolution Planning and Decisions, SRB
Mr Boštjan Jazbec became a Board Member of the SRB in March 2018 and is the Director of Resolution Planning and Decisions. He is responsible for the banks under the direct remit of the SRB in 6 EU Member States and for 2 GSIBs as well as for a number of resolution teams involved in resolution planning. He is also Chair of the Cross-Border Crisis Management (CBCM) Group for banks at the Financial Stability Board (FSB). He worked as a short-term consultant for the European Bank for Reconstruction and Development (EBRD) and the World Bank in Washington, DC. In July 2003, he was appointed to the Board of the Bank of Slovenia and continued in this post until 2008. After 2008, he worked as a Senior Advisor of the International Monetary Fund (IMF) at the Central Bank of Kosovo and the Central Bank of Suriname. In July 2013 he was appointed Governor of the Bank of Slovenia and the Member of the Governing Council of the ECB. In September 2016 he became a Member of the Bank for International Settlements' (BIS) Central Bank Governance Group. He completed his PhD studies in Economics at the Institute for Advanced Studies in Vienna and the Faculty of Economics, University of Ljubljana.
Head, Resolution, MFSA
Since 1 January 2016, Mr Giordano was appointed as Head of Resolution. Having been instrumental in setting up the necessary structures of the function, he currently heads a multidisciplinary team and is the MFSA representative on the Single Resolution Board’s Plenary Committee. Mr Giordano is also the Secretary to the Depositor and Investor Compensation Schemes, being responsible for the project implementation of a new electronic system which will enable analysis of data received from banks. Aldo Giordano started his career at the Central Bank of Malta in 1979. He worked within various functions at the Bank, including Research and Statistics Office, Correspondent Banking and Banking Supervision. Mr Giordano spent 14 years in the Banking Supervision gaining experience in onsite and off-site supervision of banks as well as in the compliance and licensing of such institutions. When moving to the MFSA in 2002, Mr Giordano continued to specialise in Regulation and Compliance in his role of Deputy Head within the Banking Supervision, which encompassed both licensing and policy areas.
Associate Lecturer in Banking and Financial Law Centre for Commercial Law Studies, Queen Mary University of London
Dr Marco Bodellini is an Associate Lecturer in Banking and Financial Law at Queen Mary University of London (QMUL) – Centre for Commercial Law Studies (CCLS), where he teaches in the areas of Investment Banking Law, Securities Regulation and Banking Regulation. He is also an Adjunct Professor in Commercial and International Law at University of Bologna and a Lecturer at University of Warwick where he teaches International Corporate Governance and Financial Regulation. He is a Member of the Expert Group advising the European Parliament in bank resolution matters, a Member of the International Association of Deposit Insurers (IADI) Advisory Panel and a Consultant to the World Bank
Head of Resolution and Crisis Management, Central Bank of Ireland
Wesley Murphy is the Head of Resolution and Crisis Management at the Central Bank of Ireland. He represents the Irish resolution authority at a number of European bodies including the SRB and EBA. He has previous experience in Prudential Policy, and before joining the national regulatory authority in 2012, worked in the banking industry for 12 years in the area of treasury and asset & liability management.
Resolution vis-a-vis Liquidation: Towards a New Bank Crisis Management Paradigm?
Current and Future Challenges of Resolution Framework.
Implementation of Resolution Strategy.
Resolution in Practice: Ireland’s Perspective.
Regulatory Authorities, Central Banks, EU Institutions, Academics & Students
Date & Time
8th June, 2021 09:00
Detailed Presentations by Lecturers