BusinessToday Previous Editions

BUSINESS TODAY 19 January 2023

Issue link: https://maltatoday.uberflip.com/i/1490343

Contents of this Issue

Navigation

Page 1 of 11

2 NEWS 19.1.2023 CC Fund Services has appointed Stephen Gauci Baluci as Managing Director of the company. Stephen Gauci Baluci is a warrant- ed accountant and auditor by pro- fession with an acute understanding of the funds industry and a work- ing experience of over fifteen years in the sector, specialising in fund accounting and valuation, trans- fer agency, including anti-money laundering, compliance, regulatory financial reporting and corporate services. He is a fellow of the Malta Institute of Accountants and also the chair- man of the MASA Fund Adminis- tration Sub-Committee. Stephen joined the company in 2011 and held the role of Head of the CC Fund Services for six years where he was responsible for setting the strategy of the company. He started his career by working in the fund services division at HSCB in Malta and prior to that he occu- pied senior posts with one of the big four audit firms in Malta during which he was also posted abroad where he was responsible for lead- ing multi-disciplinary teams with the task of auditing hedge funds in New York and the Channel Islands. Commenting on his appointment, Stephen stated "I am proud and motivated to be the one who was given the opportunity to continue steering CC Fund Services towards a further growth within the fund administration business. We shall be strengthening our operation on both the local and international scenario and together with a great team of colleagues we shall continue working together in order to retain the excellence of the company's ser- vices for the full satisfaction of our customers". MIDI plc have appointed Dr Sarah Mamo to the Board of Directors as a non-executive director in terms of Article 102(3) of the Articles of As- sociation of the Company. Dr Mamo graduated Doctor of Laws from the University of Malta in 2005 and pursued her studies in the United Kingdom graduat- ing from Warwick University with a Master of Business Administration (MBA) in 2013. Dr Mamo has worked as a senior associate for a number of years with one of Malta's leading law firms spearheading many high-profile pro- jects and continues to practice her profession in the private sector. e appointment is with effect from the 10 January 2023. CC Fund Services appoints managing director New non- executive director at MIDI MATTHEW VELLA THE former partners in the Nexia BT accountancy firm that was embroiled in the Panama Papers scandal have been struck off the Maltese financial regula- tor's list of approved corporate services providers. Brian Tonna and Karl Cini, both still facing charges in court related to fi- nancial misdemeanours in connection with businessman Keith Schembri, who served as chief of staff to former prime minister Joseph Muscat, are no longer deemed as being fit and proper and to hold any approved positions. On 2 December 2022, the MFSA de- cided that Tonna and Cini can no longer be deemed as being "fit and proper" in terms of the Company Services Provid- ers Act. "e MFSA is prohibiting Mr Tonna from accepting any new positions in- cluding as shareholder in entities or in relation to activities licensed or oth- erwise supervised by the MFSA and which necessitate the approval or au- thorisation of the Authority," the MFSA said of both Tonna and Cini. e prohibition will remain in place until such time as the criminal proceed- ings against Tonna and Cini are ongo- ing or until judgement delivered in the criminal proceedings against them is settled and exhausted. "e Authority will at that stage consider whether to vary, alter, add to or withdraw the di- rective after consulting such ruling," the MFSA said. e MFSA's decision may be appealed before the Financial Services Tribunal within the periods as prescribed by the applicable law. Tonna and Cini, as well as former Nex- ia partner and employee Manuel Cast- agna and Katrin Bondin Carter, face harges of money laundering and other financial crimes in relation to inquir- ies involving Keith Schembri. ey are pleading not guilty. Police officers from the Financial Crimes Investigation Department listed a series of transactions, involving thou- sands and sometimes millions of euros, connected to the four accused as well as offshore companies to their name. Police also traced money funnelled from the Kasco Group that belongs to Schembri. e four were charged alongside seven other people, including Schembri, last month over various financial crimes. All have been given bail as the cases against them continue. Nexia partners Tonna, Cini struck off MFSA register pending criminal charges Panama Papers-linked auditors who aided former OPM chief of staff Keith Schembri, have been struck off register of corporate services providers Brian Tonna and Karl Cini THE upcoming APS talk on urs- day 26 January 2023 will be delivered by Ed Winters (aka Earthling Ed) on 'Climate Action & Responsible Con- sumption: e hidden costs of our food choices'. For people to keep up with the de- mand for animal products without compromising the environment, drastic changes are needed in the food systems. e talk will tackle the complexities of this topic and chal- lenge the view that we are solely con- sumers. Instead, the argument will be made that we have to become food citizens, aware of the origin of our foods and the damage caused by our everyday choices. Drawing on the latest science and most up-to-date research, this talk will analyse the impact our food choices have and ask the question, what will the future of food look like? Ed Winters is an educator, filmmak- er, author, public speaker, and en- trepreneur based in London whose work focuses on the environmental impacts and ethical implications of our diets. Ed has already spoken at various companies like Google and Facebook, universities like Harvard, Yale, and Cambridge, and co-working spaces like WeWork and Makers of Barcelo- na. Ed co-taught a course at Harvard University that was led by Dr. Sparsha Saha on animals, politics and the use of media to promote animal rights. More information is available at apsbank.com.mt/apstalks-27. First APS talk for 2023 to tackle climate action and responsible consumption

Articles in this issue

Links on this page

Archives of this issue

view archives of BusinessToday Previous Editions - BUSINESS TODAY 19 January 2023