Fifty participants have completed a programme of seminars on the implications, obligations and expected developments affecting investment services regulation in Malta organised between 12 April and 3 May. The programme was organised jointly by the Institute of Financial Services (IFS-Malta) and the Malta Financial Services Authority (MFSA). These seminars evaluated the impact on the financial industry of developments pursuant to Malta’s accession to the EU and the ongoing review of international standards.

The speakers included a mix of experts from the regulatory side and from the practitioners. Particular reference was made to local directives and guidelines issued by the MFSA, recent changes in the Undertaking for Collective Investment in transferable Securities (UCITS) directive, the new EU Markets in Financial Instruments (MiFID) directive, developments concerning the Market Abuse directive as well as an overview of the international aspects of investment services regulation.

Brian Decelis, executive, IFS-Malta, said that continuous professional development, better known as lifelong learning, is the key to maintaining high standards in the financial services sector. It is also important for practitioners to be kept abreast of the latest developments in order to ensure that utmost benefit is made from the opportunities offered within the European Union and beyond, Mr Decelis said.

Paul Vella, human resources director at MFSA, said that the provision of such update programmes in collaboration with institutes such as IFS-Malta helped maintain a high level of competency for operators in the financial services sector.

This is especially important considering the highly dynamic environment in which this sector functions, Mr Vella stressed.