The Malta Financial Services Authority (MFSA) has implemented a number of organisational changes to better address the needs of the growing financial services sector while keeping abreast of developments at the European and international level.
With effect from the 2nd January 2005, the MFSA has set up two new regulatory Units, the PENSIONS UNIT and the CORPORATE SERVICES UNIT.
Dr. Anton Bartolo is the Director of the Corporate Services Unit. He retains the functions and responsibilities of Registrar of Companies in accordance with the Companies Act. The Corporate Services Unit will be responsible for issues regarding the prevention of money laundering and overseeing the supervision of corporate service providers.
Ms. Marianne Scicluna is the Deputy Director of the new Pensions Unit which will primarily be responsible for the regulatory and supervisory functions deriving from the Special Funds Act. Ms. Scicluna has been active in regulation and supervision, mainly in the securities field, since 1995.
The Company Compliance Unit is now headed by a Deputy Director, namely Dr Michelle Buontempo, and will be responsible for the regulation and supervision of Trustees, corporate trustees and licenced nominee companies. The Unit will also assist the Listing Committee and be responsible for corporate governance issues. Dr. Buontempo has been involved in regulation of nominee companies and registration of Trusts since 2001.
