Friday, 1st December 2023
Conference Hall, Level 3 - MFSA Premises
This event has already passed and registrations are closed.
Overview
On 24 May 2023, the European Commission adopted a Retail Investment Package with the intention to empower retail investors (i.e. consumers/investors) to make investment decisions that are aligned with their needs and preferences, ensuring that they are treated fairly and duly protected. This will enhance retail investors' trust and confidence to safely invest in their future and take full advantage of the EU's Capital Markets Union.
The Package aims to encourage participation in EU capital markets, which has traditionally been lower than in other jurisdictions, such as the US. Boosting the Capital Markets Union is also an essential means to channel private funding into the European economy and to fund the green and digital transitions.
The envisaged changes of the EU Commission proposal on the Retail Investment Package will inevitably lead to significant changes for the financial industry, particularly in relation to manufacturing and distribution processes, as well as to supervisory reporting.
The aim of this event is to discuss with the industry the wide range of proposed requirements contained therein.
Who Should Attend
- Investment Services Industry
Agenda
| 09:00H | Registration & Welcome Coffee | |
| 09:30H | Welcome Note
Christopher Buttigieg - Chief Officer Supervision, MFSA |
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| 09:40H | Introductory Remarks
Sarah Pulis - Head, Conduct Supervision, MFSA |
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| 09:50H | Retail Investment Package Proposals - Knowledge and Competency Assessment and Continuous Professional Development of Advisors, Literacy amongst Customers, Client Classification, Advisory / Non-Advisory Process, Disclosures, MFSA Outlook
Chardian Camilleri - Senior Legal Officer, Investments Services Supervision, MFSA |
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| 10:45H | Coffee Break | |
| 11:00H | Retail Investment Package Proposals - Value for Money, Cost Effectiveness, Inducements
Charlene Saliba - Senior Analyst, Conduct Supervision, MFSA |
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| 11:30H | A Brief Analysis of the Updated Regulatory Framework on Marketing Communications
Anastasios Sfakianakis - Senior Manager, Conduct Supervision, MFSA |
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| 12:00H | Retail Investment Package Proposals – Avoiding Undue Costs for UCITS and AIFs
Chardian Camilleri - Senior Legal Officer, Investments Services Supervision, MFSA |
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| 12:15H | Q&As | |
| 13:00H | Light Lunch | |
Registrations
The Authority encourages interested participants to register by filling in the form below by not later than Tuesday 28 November 2023.
Registration is on a first come, first served basis.
Speakers
Chief Officer Supervision, MFSA
Christopher Buttigieg
Dr Christopher P. Buttigieg was appointed as Chief Officer Supervision in March 2020 following his appointment as Chief Officer Strategy, Policy and Innovation in 2019. During his tenure as Head of Securities and Markets Supervision before 2019, which stretched over four years, Dr Buttigieg was responsible for work in the field of policy, regulation and supervision of securities, markets and FinTech. He joined the Authority in 2000 as Manager in the Investment Services Unit and has gained professional experience in various areas of financial regulation, supervision, the investigation of market misconduct and the enforcement of sanctions. Dr Buttigieg was responsible for implementing various pieces of EU legislation in the field of securities and markets and has led different regulatory and supervisory teams within the Authority. He sits on the Authority’s Supervisory Council and represents the MFSA at various European Fora on financial regulation and supervision. He is the MFSA’s alternate member on the ESMA Board of Supervisors and is the Chair of the ESMA Data Standing Committee. Dr Buttigieg is a lecturer in the Banking and Finance Department of the University of Malta and has published various papers on financial regulation and supervision in academic and professional journals. For a period of two years, up to April 2015, Dr Buttigieg was a director on the board of the Malta Resources Authority, Malta’s energy regulator. In 2015, the President of Malta appointed Dr Buttigieg as a member on the board of the Fund for Voluntary Organisations. Dr Buttigieg is also a member of the Board of Trustees of the Academy of European Law (Trier).
Head, Conduct Supervision, MFSA
Sarah Pulis
Sarah Pulis holds the position of Head within the Conduct Supervision function at the MFSA. Sarah has twenty years of experience in the regulation and supervision of financial services, namely investment firms, collective investment schemes, company services providers, insurance undertakings and insurance intermediaries. During her career, she has represented the Authority on various committees with ESMA and EIOPA. Sarah read law at the University of Malta and graduated as a Notary Public and Doctor of Laws in 1996 and 1999 respectively. She also obtained a Master of Laws in European Union Law from the University of Leicester in 2006.
Senior Manager, Conduct Supervision, MFSA
Pauline Tonna
Pauline has been working within the Conduct Supervision Function (Investment Services) within the MFSA since July 2016. Prior to joining the Conduct Supervision Function, she worked for 6 years within the Consumer Complaints Unit which was previously housed within the MFSA. Pauline also worked for a number of years as an investments officer within the local industry. She holds a Bachelor of Commerce (Hons) in Banking and Finance with the University of Malta and an MSc Finance from the University of London.
Senior Manager, Conduct Supervision, MFSA
Anastasios Sfakianakis
Anastasios Sfakianakis is the Team leader of the Financial Promotions and Risk Assessment Team of Conduct Supervision. He has obtained a bachelor’s and master’s Degree on Marketing and International Economics respectively from Athens University of Business and Economics. Anastasios has a longstanding career within the Maltese Regulator, which he has served since 2016 from various roles within Conduct and Banking Supervision, and before that he gained his professional experience from both the local and Greek forex industry.
Senior Analyst, Conduct Supervision, MFSA
Charlene Saliba
Charlene joined the Authority in April 2015 as an analyst with the Insurance & Pensions Function of the Authority, following which in September 2016 Charlene joined the Investments Team within Conduct Supervision. Charlene attained a Bachelor of Commerce (Hons) Banking & Finance from the University of Malta in 2008 and has subsequently worked for a number of years in the local financial market.
Senior Legal Officer, Investment Services Supervision, MFSA
Chardian Camilleri
Chardian Camilleri, Senior Legal Officer within the Investment Services Supervision Function, graduated with an LLD in 2018. He joined the MFSA in May of the same year and he has been working on policy and regulatory matters within the Investment Services Supervision Function since then. His main focus is the Investment Firms Package and MiFID II, and also has an interest in the UCITSD and the AIFMD.
Chief Officer Supervision, MFSA
Christopher P. Buttigieg
Prof. Buttigieg has more than twenty five years of professional experience in financial regulation and supervision. He is the Chief Officer – Supervision, responsible for the Supervision Directorate, the Chair of the MFSA’s Regulatory Committee and the AMLCFT Committee and a member of the Authority’s Executive Committee. He is responsible for the co-ordination and implementation of the supervisory and regulatory strategy across all the sectors under the MFSA’s remit. Between October 2020 and September 2021, Prof Buttigieg fulfilled the role of Interim Chief Executive Officer of the Malta Financial Services Authority. Throughout his career at the MFSA, Prof Buttigieg was responsible for managing various functions and teams. He was also responsible for the implementation of several European Directives and Regulations and the development of new regulatory frameworks at national level. Prof Buttigieg is a member of the Board of Supervisors of the European Securities and Markets Authority and European Banking Authority. He was the Chair of the ESMA Data Standing Committee (until December 2022) and a member of the EBA Task force on proportionality (2025). He is currently the Chair of the ESMA Proportionality and Coordination Committee and a member of the ESMA Management Board. Prof Buttigieg 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) and a doctoral degree in law (PhD 2014) from the University of Sussex (UK). His Doctoral thesis deals with the governance of EU securities regulation and supervision. Prof Buttigieg is an Associate Professor in the Banking, Finance and Investments Department of the University of Malta. He is also a member of the Board of Trustees of the Academy of European Law (ERA) in Trier, Germany, and a visiting lecturer at the same institution. He is an active researcher and has published various papers in reputable journals, including the Columbia Journal of European Law, the European Company and Financial Law Review, the ERA Forum, the Journal of Financial Regulation and Compliance, the Journal of Business Law and the Law and Financial Markets Review. His latest publications deals with centralisation of supervision of CASPs under the EU Markets in Crypto Assets Regulation. He is also the Editor in Chief of the Journal of the Financial Supervisors Academy, which seeks to bridge academia with financial supervision.
Deputy Head, Conduct Supervision, MFSA
Pauline Tonna
Pauline has been working within the Conduct Supervision Function (Investment Services) within the MFSA since July 2016. Prior to joining the Conduct Supervision Function, she worked for 6 years within the Consumer Complaints Unit which was previously housed within the MFSA. Pauline also worked for a number of years as an investments officer within the local industry. She holds a Bachelor of Commerce (Hons) in Banking and Finance with the University of Malta and an MSc Finance from the University of London.
