Insight Newsletter – Issue 1 | 2023

Dear Readers,

Welcome to the first newsletter of 2023, which will bring you up to date with all that FinanceMalta is doing, and some of the main news highlights that would interest you.Apart from the normal busy schedule of events, the team here is busy updating sectorial guides and has launched a new series of podcasts on topics of interest. You can find more about these on our website and on our social media. Please do not hesitate to contact us should you wish to enquire about future collaboration.

One major development to look out for is the launch of the national strategy for financial services, which will be taking place in a few weeks’ time. This comprehensive, multi-sectorial strategy is the result of years of painstaking work by the Malta Financial Services Advisory Council, headed by Joseph Zammit Tabona, and which involved a thorough analysis of financial services conducted by task forces composed of representatives from all the stakeholders involved, from Government and private operators, to regulators and enforcement authorities. FinanceMalta is proud to play a role in this strategy and will be issuing more information in due course.

New MFSA chairman
The Government has appointed Jesmond Gatt as the Malta Financial Services Authority (MFSA) chairman for the coming year. Mr Gatt spent 35 years with the Central Bank of Malta, ending his tenure there as Chief Officer responsible for retail banking services, management of currency and the regulation of payment systems and infrastructures. He formed part of the board of the Financial Intelligence Analysis Unit, serving as its chairman for three years. He takes over from Prof. John Mamo, who had held the post since 2018.

In the meantime, the MFSA recently issued a new Strategy Statement, identifying 27 strategic priorities for the coming three years, aiming to ensure that Malta is a “resilient and efficient” financial services jurisdiction. It also updated its Supervisory Priorities. More on these can be found in the news section of the newsletter.

Events
The FinanceMalta team has started the year with the usual packed timetable of events, showcasing Malta at a number of local and international events.

These included The Tokyo-London Financial Seminar 2023, which was organised in a hybrid format by the Tokyo Metropolitan Government and the City of London Corporation, and the HFM European Emerging Manager Summit, held in the UK. FinanceMalta was also a gold sponsor for the Captive Insurance Companies Association (CICA) conference held earlier this month in California; apart from attending the conference, FinanceMalta also had a stand there.

Locally, the Malta Stock Exchange organised a well-attended summit in Malta on Governance, Risk and Compliance.

WAIFC Young Academic Award
Attention young academics! Applications are open for the World Alliance of International Financial Centers (WAIFC) Young Academic Award 2023. This is your chance to submit a paper or essay on the future of a sustainable and inclusive financial sector. Besides receiving prize money, the top three finalists will have the privilege of presenting their research at WAIFC’s Annual General Meeting in New York City in October 2023.

Application deadline: 15 May 2023
Final paper deadline: 15 June 2023

Best wishes,
George Vella
Chairman