Webinar - Banks in Malta: Dealing with Trusts & Foundations

FinanceMalta

January 27, 2021

Webinar - Banks in Malta: Dealing with Trusts & Foundations

This event is aimed primarily at legal and compliance officers working with banks based in Malta, to obtain a better understanding of what Trusts and Foundations are, how they are regulated, and accepted by banks as their customers.Representatives from different regulatory and supervisory authorities will be speaking about the procedures, laws, and regulations that apply in this field, in order for banking compliance departments to have peace of mind when dealing with such structures and to understand that Trusts and Foundations were created to be efficient tools for the service of both corporate entities and individuals, and not to evade tax, launder money, or finance terrorism. Therefore, the use of such structures, when used properly, should be encouraged and not dissuaded.Supported by the Malta Bankers' Association - MBA.

Overview

Why Attend?

Agenda Highlights:

15:00 – 15:05 - Welcome speech - By Rudolph Psaila, Chairman, FinanceMalta
15:05 – 15:30 - Panel: understanding the banks’ position and concerns - Moderated by Vanessa Macdonald, Central Bank of Malta
- Maruska Buttigieg Gili, Chief Risk Officer, BNF Bank
- Simon Micallef, Head of Customer Profiling, APS Bank
- Alexandra Sciberras, Head of AML, Sparkasse Bank
15:30 – 15:40 - What compliance officers at Banks need to know about Trusts and Foundation - Dr Priscilla Mifsud Parker, Chairperson, STEP
15:50 – 16:00 - Money laundering and funding of terrorism risks associated with Trusts and Foundations. - Carmela Loredana Umbro, Senior Officer Guidance and Outreach, Legal Affairs, FIAU
16:00 – 16:10 - The Malta Business Registry – Legislative Developments, Expectations and Enforcement Action - Geraldine Spiteri Lucas, Chief Legal Officer, Malta Business Registry
16:10 - 16:20 - BREAK
16:20 – 16:35 - An International Perspective: Experience in dealing with Trusts & Foundations - Andre Toubkin, Director, Wealth Management Switzerland, Schroder & Co Banque SA
16:35 – 17:10 - Q&A session - Moderated by Rudolph Psaila, Chairman, FinanceMalta
- Priscilla Mifsud Parker, STEP chairperson
- Petra Camilleri, Senior Manager (Trustees & CSPs), MFSA
- Carmela Loredana Umbro, Senior Officer Guidance and Outreach, Legal Affairs, FIAU
- Geraldine Spiteri Lucas, Chief Legal Officer, Malta Business Registry
- Alexandra Sciberras, Malta Bankers' Association
17:10 – 17:15 - Conclusion - By Rudolph Psaila, Chairman, FinanceMalta

Confirmed Speakers

Rudolph Psaila - FinanceMalta - chairman - Rudolph Psaila, is the CEO of AlleyBe Group, an independently owned Group which is engaged in the Corporate, Trust and Fintech Industry.He started his career working for PwC Malta and PwC in the Channel Islands and during his ten-year career working in Malta and abroad, he had the opportunity to work on international, high profile assignments. In 2010, Rudolph moved to Amicorp Group where he was appointed as the Global Head of Commercial Operations and was primarily responsible for setting up and developing the Corporate, Fiduciary and the Fund Administration businesses.Rudolph is also the Chairman of FinanceMalta, Malta’s national promotion body for financial services and fintech related business. He is a fellow member of the Malta Institute of Accountants and a member of the Society of Trust and Estate Practitioners. Rudolph is a visiting lecturer at the University of Malta and acts as an examiner and tutor for dissertations related to financial services.
Vanessa Macdonald (Moderator) - Communications Coordinator - Central Bank of Malta - Vanessa Macdonald spent 25 years as a journalist with the Times of Malta, specialising in finance, economics and business. She was also a freelance writer for numerous publications. In 2019, she moved to the Central Bank of Malta to take up a role as communications coordinator.
Maruska Buttigieg Gili - Chief Risk Officer, BNF Bank - Ms Buttigieg Gili joined BNF Bank plc at its inception, setting up the Bank's Compliance and Internal Audit functions. She also occupied the roles of Money Laundering Reporting Officer and Compliance Officer. Subsequently, she was appointed Head of the Internal Control Department responsible for the Legal and Compliance Unit, the Risk Control and Oversight Unit and the Credit Analysis Unit.Prior to joining the Bank, Ms Buttigieg Gili worked at the Central Bank of Malta for over 12 years. During this period, she occupied various positions within the Bank's Human Resources and Economic Statistics departments. She represented the Central Bank of Malta on various working groups of the European Central Bank in relation to statistics.Ms Buttigieg Gili graduated in Financial Services (UMIST) and holds a Masters in Economics from the University of Malta.
Simon Micallef - Head of Customer Profiling, APS - Simon Micallef is the Head of Customer Profiling. His 31 year career included senior consultancy roles in the Public Service, with the last 20 years at APS Bank in positions including Human Resources, as General Manager of APS Consult Limited and recently Senior Compliance Manager. Simon holds a B.A. (Hons) degree in Business Management from the University of Malta and an M.B.A. from the Maastricht School of Management, The Netherlands (2002)
Alexandra Sciberras - Head of AML, Sparkasse Bank Malta - Alexandra Sciberras has been working within the Banking sector since 2003, for most of the time within the Compliance and Anti Money Laundering fields. She held the positions of Compliance Officer and Designate Employee and currently holds the position of Head of AML at Sparkasse Bank Malta plc. Alexandra is qualified in Compliance from the International Compliance Association in association with Manchester Business School, The University of Manchester, UK, and she is a professional member of the International Compliance Association. She also holds a Professional Certificate of Competency in the field of Compliance, received from ALCO – Association of Luxembourgeoise des Compliance Officers du Secteur Financier, IFBL – Institut de Formation Bancaire Luxembourg, (Luxembourg).
Priscilla Mifsud Parker - STEP chairperson - Dr Mifsud Parker is a private client lawyer heading Chetcuti Cauchi Advocates Families and Wealth practice group. In this capacity, she specialises in trusts and estate planning, wealth and business structuring for high net worth and successful business families. In the structuring field her main speciality is tailor-made solutions for the optimisation and protection of high value assets. Priscilla’s background and experience in corporate, trusts and tax law enables her to assist clients in overcoming their challenges when structuring their wealth. Priscilla also heads the Corporate and Trust Services arm of the firm which handles the setup and administration of the corporate structures designed by the law firm for clients. Her practice revolves around assisting clients in business start-up stage or with acquisitions, corporate restructurings, shareholder matters and providing day to-day company law and tax advice to companies under the firm’s administration. Priscilla has acted in a number of roles for the Malta STEP Branch including Branch Secretary, Technical Committee Chairperson and as from 2020 as Branch Chair. She received a B.A in Law and Theology, LL.D Trusts Law and M.A in Financial Services from the University of Malta.
Petra Camilleri - Senior Manager (Trustees & CSPs), MFSA - Petra Camilleri graduated with a Doctor of Laws from the University of Malta and has also obtained a Masters of Laws with specialisation in commercial and corporate law with the University of London. She joined the 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 trustees and company service providers.
Carmela Loredana Umbro - Senior Officer Guidance and Outreach - Legal Affairs, FIAU - Carmela Loredana Umbro is a Senior Officer of the Guidance and Outreach Team within the FIAU`s Legal Affairs Section. Her team is responsible for identifying and responding to the guidance needs of subject persons and for participating in outreach efforts among the private and public sector in the area of AML/CFT. Carmela joined the FIAU in 2014 and has been involved in multiple projects related to AML/CFT. She holds previous experience in the civil and commercial law sector. Carmela studied Law at the University of Rome “La Sapienza” and is a warranted lawyer.
Geraldine Spiteri Lucas - Chief Legal Officer, Malta Business Registry - 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 and company secretary of INDIS Malta Ltd.
Andre Toubkin - Director Wealth Management Switzerland, Schroder & Co Banque SA - Andre Toubkin is a Director in the wealth management division of Schroder & Co Bank, based in Geneva.His clients include high net worth individuals, family offices and trusts across Europe who require asset management in Switzerland.Prior to joining Schroders in 2015, Andre worked within the UK team of Barclays Wealth focussing on non-UK domiciled clients with specific offshore banking and investment requirements.He started his career as a financial planner and continues to take a holistic approach when exploring his clients’ situation and objectives.Andre studied law and Japanese at the School of Oriental and African Studies in London.