Thursday, 10th September 2020

Online Webinar

This event is fully booked

Overview


The fight against money laundering and terrorism financing is critical to ensuring Malta’s security and prosperity. Financial crimes threaten the safety of our society, the integrity of our financial system, the stability of our economy. The results of the National Risk Assessment (NRA) as well as the Sectoral Risk Assessment relating to Legal Persons and Legal Arrangements contribute to the efforts of the various competent authorities in targeting their efforts and resources where the threats and risks are higher.

As part of the Authority’s commitment to assist in preventing and identifying the risks faced by licensed entities, particularly those operating in areas which are deemed to be more susceptible to Money Laundering and Terrorism Financing Risks such as Trustees and Company Service Providers, the MFSA is organising an outreach webinar to raise awareness in relation to risky business models and highlight the red flags in the areas which such service providers operate.

Registrations are now open and places are available on a first come first served basis. Following successful registration to this event, an email will be sent to the registered participants on 4 September with a link to join the webinar.

Agenda


 

0900hrs Opening Statement

Christopher Buttigieg - Chief Officer Supervision, MFSA

0915hrs Legal Entities and Legal Arrangements Sectoral Risk Assessment

Helga Buttigieg Debono – Head, National Coordinating Committee on Combating Money Laundering and Funding of Terrorism

0945hrs Money Laundering Risk Factors applicable to Trustees and Company Service Providers – What Can You Do to Mitigate such Risks?

Clara Borg Bonaci - Manager, Legal Affairs, FIAU

Carmela Loredana Umbro – Senior Officer, Guidance and Outreach, FIAU

1030hrs The Supervisor’s Perspective – Practical Examples and Red Flags from the Trustee & CSP Sectors – What are the MFSA’s Expectations?

Petra Camilleri – Senior Manager (Trustees & CSPs), MFSA

Alison Cortis – Senior Technical Expert, MFSA

1130hrs Coffee Break
1145hrs The Malta Business Registry’s Role – Interaction with Trustees & CSPs

Joseph Farrugia – Registrar, Malta Business Registry

1200hrs Overview of Legislative Developments Impacting Trustees & CSPs

Geraldine Spiteri Lucas – Chief Legal Officer, Malta Business Registry

1230hrs The Malta Business Registry – Expectations and Enforcement Action

Andrew Schembri – Head of Compliance Unit, Malta Business Registry

1300hrs Closing Statement

Emily Benson – Head of Conduct Supervision, MFSA

Speakers


Chief Officer Supervision, MFSA

Christopher P. Buttigieg

Christopher P. Buttigieg was appointed Chief Officer Strategy, Policy and Innovation after 4 years heading the Securities & Markets Supervision. During his tenure as Head of Securities and Markets supervision, 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.

Head, Conduct Supervision, MFSA

Emily Benson

Emily Benson was appointed Head of Conduct Supervision in March 2020. Emily is a UK regulatory lawyer with over 30 years of experience in the Financial Services sector. After qualifying as a solicitor in private practice, her career has included senior positions with the UK’s financial services regulator, then the FSA, and in-house with a high profile bank and a leading insurer. She has also worked for private firms and with a global consultancy firm. Her clients have been from all retail sectors and she is highly experienced in all forms of regulatory investigations and reviews, including leading reviews commissioned by the FCA under its skilled persons regime. Recently as Department Head in a leading UK law firm, she has advised on all types of regulatory processes including authorisations, compliance and corporate governance requirements for investment firms, intermediaries and banks and has led complex investigations and remediation projects. In addition to leading the regulator’s cross sectoral supervision of conduct, Emily will be continuing the regulator’s supervision of trustees and corporate service providers.

Registrar/Chief Executive Officer, MBR

Joseph Farrugia

Joseph Farrugia was appointed Registrar/Chief Executive Officer at the Malta Business Registry on April 2019. He has been working at the Registry of Companies for the last 32 years. He was involved in the transfer of the Registry of Companies from Valletta to Attard, with the aim of integrating the Registry of Companies within the Malta Financial Services Authority. Along the years he was involved in numerous projects committed to ensuring Companies’ compliance within the financial sector. As Deputy Registrar he was also involved in the overhaul of the Registry’s system which brought about the creation and launch of a new online system. He is responsible for the overall management and performance of the Registry, as well as the strategy development and implementation of the Business Register.

Chief Legal Officer, MBR

Geraldine Spiteri Lucas

Dr Geraldine Spiteri Lucas is Malta Business Registry’s Chief Legal Officer and she heads the Legal and Enforcement Unit. After graduating as a lawyer from the University of Malta she read for a Masters in European and Comparative law. She started her career with a leading local law firm where she used to offer legal advice to local and international clients and also represented various clients, as litigator, before Tribunals and local Courts. She is also a member of the board of examiners for the Department of Commercial Law of the University of Malta.

Head, Compliance Unit, MBR

Andrew Schembri

Andrew Schembri is the Head of the Compliance Unit at the Malta Business Registry. Andrew is qualified in Banking and Finance with almost 11 years’ experience in the finance sector. He started his career at the Registry of Companies when it was still part of the Malta Financial Services Authority as Desk Officer. Amongst other things, he was responsible for vetting of documents submitted by registered companies, incorporation of new companies and certification of documents. He then moved to the Conduct Supervisory Unit within the Malta Financial Services Authority as Analyst where he was responsible for the supervision of Trustees and Company Service Providers including onsite inspections and investigations. At the Malta Business Registry, he is responsible to ensure that companies are compliant with the regulations emanating out of the Companies Act and issue penalties accordingly. He is also responsible to oversee independent investigations and act on matters related to enforcement and compliance.

Head of the NCC

Helga Buttigieg Debono

Dr. Helga Buttigieg Debono was appointed as the Executive Head of the National Coordinating Committee for Money Laundering and Financing of Terrorism Secretariat in June 2018. She currently leads a team of professionals including strategic and implementation analysts involved in assessing the risks attributed to Money Laundering and Financing of Terrorism. Dr. Buttigieg Debono holds a B.A. (Hon) degree in Contemporary Mediterranean Studies. She also holds a Doctorate of Laws degree and was granted a warrant to practice in the Maltese Courts as a lawyer in 2012. Prior to being appointed in her current role, Dr. Buttigieg Debono served as a Police Inspector within the Maltese Police Force where, as a high-ranking official she acquired experience in the field after serving within the Economic Crimes Unit and Money Laundering Sections. She has served in the Criminal and Civil Courts and is versed in court procedures and litigation. Before engaging in her current role, Dr. Buttigieg Debono was also previously employed as a lawyer specialised in the vetting of contracts with a leading Maltese bank and has also served as member of the board of two government authorities.

Senior Technical Expert, MFSA

Alison Cortis

Alison Cortis holds a Bachelor of Commerce (Hons) in Banking and Finance from the University of Malta and later on obtained the Society of Trust and Estate Practitioners (STEP) Diploma in International Trust Management. She started her professional career over twenty years ago in the private sector with an international company specialising in the administration and management of trusts. She also worked with a local investment firm specialising in brokerage. Alison is the Senior Technical Expert within Conduct Supervision at the Malta Financial Services Authority. She joined the MFSA in 2010 and has since been mainly involved both in the supervision of Trustees and Company Service Providers, as well as managing the team and ensuring that the team was able to deliver in a timely and efficient manner. She is currently involved in the amendments to be carried out to the regulatory framework applicable to Trustees and the one applicable to Company Service Providers, providing technical assistance and/or training to staff and participating together with senior management in meetings held with national and international stakeholders.

Senior Manager (Trustees & CSPs), MFSA

Petra Camilleri

Petra Camilleri graduated with a Doctor of Laws from the University of Malta and is currently undertaking a Masters of Laws with specialisation in commercial and corporate law with the University of London. She joined the Malta Financial Services Authority (“MFSA”) in 2012, forming part of the Trustees and Company Service Providers Supervision Team which is now within the remit of the Conduct Supervisory Unit since 2015. She was involved in the transposition of the provisions of the Fourth and Fifth Anti-Money Laundering Directive in so far as they relate to the beneficial ownership information of trusts and the setting up of the Trusts Ultimate Beneficial Ownership Register. She was also involved in the development of the regulatory framework applicable to Trustees of Family Trusts, as well as other legal and regulatory drafting projects relating to trusts and trustees.

Senior Officer, Guidance and Outreach, FIAU

Carmela Loredana Umbro

Avv. Carmela Loredana Umbro is a Senior Officer within the Guidance and Outreach Section of the FIAU, where she assists subject persons in implementing their AML/CFT obligations, through research, drafting of guidance documents, training events and other outreach initiatives. Carmela joined the FIAU in 2014 and has previous experience in AML/CFT. Carmela studied Law at the University of Rome “La Sapienza”.

Manager, Legal Affairs, FIAU

Clara Borg Bonaci

Dr. Clara Borg Bonaci is a manager within the Legal Affairs Section of the FIAU. Clara oversees the work of the new Guidance & Outreach section, by identifying areas for improvement in the implementation of AML/CFT obligations, and addressing these needs through concrete action plans comprising the drafting of guidance notes and sector specific procedures, and the creation of training plans and other events. Clara regularly participates in outreach efforts among both the private and public sector in the area of AML/CFT, representing the FIAU on panel discussions and delivering talks and presentations on the topic. Clara studied Law at the University of Malta and joined the FIAU in 2017 after spending a few years working with a local law firm.

Book Now


This event is now fully booked and registrations are closed.