The regulatory journey in the financial services sector: the authorisation process
The session will explore the laws underlying the three pillars of financial services clearly identifying the procedure to be followed in order for the different firms to obtain the required authorization.Audience:Lawyers and regulatory experts with an interest in MFSA’s licensing process, practitioners from the financial services sector, in-house legal counsel or other internal functions of companies wishing to obtain a licence from MFSA, compliance professionals who wish to understand more about MFSA’s licensing process.Training topics:- The three pillars of financial services and their legal framework:Banks and Financial Institutions (FIs; PIs and PSPs; EMIs)Investment FirmsInsurance Undertakings and Insurance Intermediaries- The Authorisation ProcessPreparatory work prior to submitting the applicationApplication processPre-commencement of business- What constitutes a full application?- Supervision following successful licensingLearning objectivesFollowing the session, attendees will have a good understanding of the legal framework underlying the three pillars of financial services: banking, investments and insurance, which fall within MFSA’s remit. The session will ultimately delve into the details on the procedure to be followed with MFSA.
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Confirmed Speakers
- Jessica Borg - Jessica pursued her studies at the University of Malta first obtaining a Bachelor of Laws with Italian, followed by a Diploma of Notary Public and subsequently, graduating as a Doctor of Laws submitting a thesis in the field of contract law. Jessica then read for her Master of Arts in Financial Services degree at the University of Malta, in the pursuance of which she completed study units relating to securities regulation including funds, securities markets, the regulation of banking, EU financial services law, advanced company law matters, and the local legal framework of financial services, among others. Further to the conferment of the Master of Arts in Financial Services degree obtaining a Magna Cum Laude, Jessica was awarded the GM Corporate and Fiduciary Services Limited Prize for the best dissertation in financial services.Her dissertation is entitled ‘The Use of Distributed Ledger Technology and Smart Contracts in the Financial Services Industry: Legal Implications and Possible Applications’. Jessica has delivered training on various topics including company law, capital markets, corporate governance, prevention of market abuse, blockchain and the virtual financial assets framework which regulates the issuance of cryptoassets in or from Malta. She is also currently reading a Master of Science in Blockchain and Distributed Ledger Technologies (Law and Regulation) at the University of Malta. As part of the said MSc, she is currently following study units on EU IT Law including an extensive analysis of the General Data Protection Regulation (GDPR) and all relevant local laws, rules, regulations and EU case-law which directly or indirectly relate to privacy and data protection. Jessica has also successfully obtained a Foundation Certificate in Trusts Law and Management.After a two year experience practicing with a local law firm specialising in the civil, commercial and private law service lines, Jessica joined Grant Thornton in 2015 focusing predominantly on the capital markets, fintech, digital assets, blockchain, innovation, financial services, corporate, trusts, compliance, capital markets, regulatory and licensing fields. She was responsible for the drafting of various contracts relating to the same areas, providing legal support for the set-up of various investment services vehicles, assisting with the drafting of public offering documentation, advising on corporate restructuring and regulatory compliance, drafting of license applications in the financial services sector, providing support of a legal and regulatory nature to licensed companies, carrying out legal and regulatory due diligence on regulated entities, and works alongside the tax and advisory teams providing legal input for projects and business plans. Jessica is a designated person in terms of the Virtual Financial Assets Act. Jessica is also a member of the Malta Chamber of Advocates.
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The regulatory journey in the financial services sector: the authorisation process
May 18, 2021
Online
75
Grant Thornton
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