Issue link: https://maltatoday.uberflip.com/i/1120492
23.05.19 15 THE Malta Financial Services Authority's General Counsel Dr Ed- wina Licari shares MF- SA's vision on Corporate Governance during a conference themed 'Re- shaping Malta's Boards' organised by the Insti- tute of Directors (IoD) Malta. During the panel dis- cussion themed ' world trends in corporate gov- ernance and a new cor- porate governance code for Malta', moderated by Dr Roger Baker (IoD UK Head of Corporate Gov- ernance UK), Dr Licari emphasised how 'cor- porate governance has not only become part of modern economic and business practice but also an essential pre-requisite for the in- tegrity and credibility of the jurisdiction.' She emphasised the need to raise standards around governance issues in the financial services sec- tor, within more defined and stricter parameters, as part of the MFSA's re- formist agenda. e conference was attended by world class speakers and interna- tional top corporate governance experts, as well as seasoned direc- tors and practitioners within the financial ser- vices sector. FINANCIAL SERVICES Reshaping Malta's boards THE Malta Financial Services Author- ity (MFSA) has signed a Memorandum of Understanding (MoU) with the In- stitute of Directors UK and their local Chapter, the Institute of Directors Mal- ta Branch, setting up a joint initiative to improve Director education and stand- ards, Director Certification and Cor- porate Governance across Malta-regis- tered companies, NGO's and the public sector. e MoU was signed by the IoD global Chair Charlotte Valeur on behalf of IoD UK, Professor John Mamo Chairman of the MFSA and IoD Malta Branch Chairman Edwin Ward. e world of Corporate Governance has changed enormously in the last decade and now is a hugely important opportunity for Malta to take a lead on issues such as board diversity, remuner- ation, directors duties, technology and the responsibility of companies to their broader stakeholder base and not just their shareholders. e changes underway impact not just listed entities but all companies no matter how small or whether for prof- it or not for profit. Each has a real part to play. As a result of the pressure to change the IoD has embarked on this MoU with the MFSA to align with other key stakeholders to review and develop a new governance platform for Malta. While the MFSA already publishes the Corporate Governance Guidelines and expectations for Directors of In- vestment Companies and Collective Investment Schemes, Public Interest Companies and a Code of Principles of Good Corporate Governance for List- ed Entities, the MFSA recognises that there are a range of stakeholders who are not covered by these guidelines and is working closely with IoD Malta Branch around identifying the need to draft a new Malta Corporate Govern- ance Code to have a set of Corporate Governance principles that are "fit for purpose" for all entities, rather than just for listed entities as currently. e MoU also provides for a wide range of coordination and cooperation in relation to Director Certification. e IoD's Chartered Director pro- gramme launched in Malta has a num- ber of MFSA personnel on the course, which is the first time that a local Char- tered Director pathway has been made available to Malta-based Directors. MFSA signs MoU with Global chair of the IoD MFSA participates at Institute of Directors (IoD) Malta Conference MFSA's Dr Edwina Licari emphasised the need to raise standards around governance issues THE Malta Financial Services Authority ("MFSA") has become aware of an entity which had an in- ternet presence at www.acatrades. com and https://acatrade.de/. ese websites were falsely claim- ing to be associated with a licenced and authorised entity from a differ- ent jurisdiction. Fraudsters are using the details of this genuine company in an effort to deceive the public. e Authority would like to inform the public that www.acatrades.com and https://acatrade.de/ claimed to have a presence in Malta, which does not seem to be the case. e MFSA can confirm that www. acatrades.com and https://acatrade. de/ have NO association with the authorised and licenced compa- ny Acatis Investment Kapitalver- waltungsgesellschaft mbH regulated by BaFin, having its registered office address at Main Building, Taunusan- lage 18 Frankfurt am Main, Germa- ny. e MFSA confirms that www.aca- trades.com and https://acatrade.de/ are clones of a legitimate entity and that the public should therefore re- frain from undertaking any business or transactions with the false entity. A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at http://www. mfsa.com.mt/pages/licenceholders. aspx. Acatis Investment clones MFSA WARNING Charlotte Valeur, on behalf of the IOD UK, and MFSA chairman Prof John Mamo signining the MoU