Issue link: https://maltatoday.uberflip.com/i/1504928
2 NEWS 3.8.2023 FROM PAGE 1 e caution comes a week after the Prime Minister Robert Abela published the procès-verbal of the magisterial inquiry into the fatal incident that killed Jean Paul Sofia. "For years, the MDA has been striving to bring in proper training, professionalism and a serious licensing regimen, not only for de- velopers and contractors, but also for tile lay- ers, installers of apertures and all kinds of op- erators working in this field," the MDA said. "ese should also be recognized by the state and all the amateurs who don't want to update their work practices for today's times, should be cut off once and for all." e association said it vets all membership applications diligently and does not accept everyone and anyone, especially those who claim to "be a developer" overnight. "Absolute priority is given to all those of goodwill to see this industry meet all the nec- essary challenges to reduce both the danger and the inconvenience to people who have every right to live a tranquil life," the MDA said. It said government, rather than focus on "a lot of paperwork" to start a project, should ensure that who is behind each project and contractors have all the competent people required to be on site. "is has to be done even if we are aware that the amount of development that is cur- rently being made may decrease," it said. MDA warns government it will not tolerate amateurs in the industry A workshop organised recently by the MFSA's Financial Supervisors Acad- emy (FSA) for employees delved into the transformative world of Web 3 and Metaverse technology, highlighting their relevance in the context of finan- cial services. e workshop was led by Andre Causon, Aaron Zarb, and Sean Ellul - industry experts and pioneers in Metaverse technology. e Metaverse is a collective virtual shared space poised to merge physical and virtual realities, revolutionising various sectors. During the training session the myriad of benefits of immersive technologies for financial service providers and their clients were discussed, emphasising how immersive technologies can trans- form customer engagement, risk man- agement, compliance, and sales training within financial services. A showcase of the implementations of existing financial services projects on the Metaverse was also provided during the session. To help attendees experience the full potential of Metaverse technology, a Virtual Reality headset was made avail- able during the live workshop. "As the Metaverse increasingly of- fers opportunities for innovation, the MFSA's role in safeguarding consumer rights becomes more vital. Striking a balance between progress and safety, the MFSA must establish regulations that not only foster the exploration of new financial technologies but also guarantee user protection," said Her- man Ciappara, MFSA's Head of Fin- Tech Supervision. "By anticipating the impact of immersive technologies, the MFSA aims to ensure a secure financial environment for both service providers and consumers." "e FSA, the training arm of the MFSA, takes pride in its commitment to continuous learning and professional development, in line with the Author- ity's Strategic Priorities. In 2022, our people received over 21,000 hours of training, 30% more than in 2020 when the Academy was set up. As we seek to keep enhancing the expertise of our su- pervisors, in the first six months of this year, the FSA has already facilitated and provided 11,566 hours of training to our employees, with the aim of strengthen- ing our level of preparedness for the future of financial services," added the MFSA's Chief Operating Officer, Ivan Zammit. A Virtual Reality headset was made available during the live workshop to help attendees experience the full potential of Metaverse technology, MFSA prepares for the future of financial services in the metaverse