MFSA workshop highlights initiatives to strengthen Malta’s positioning in the area of asset management

Kenneth Farrugia – Chief Executive Officer, MFSA

The Malta Financial Services Authority held its first industry workshop for 2024, bringing together over 130 industry practitioners involved in Malta’s Asset Management sector. The primary aim of the workshop was to provide an update on the latest developments in relation to strategic regulatory and policy initiatives taken in respect of the asset management sector.

During the event, MFSA and FIAU officials highlighted recent regulatory updates specific for the sector. Special focus was given to the recently launched Notified Professional Investor Funds (NPIFs) regime, the framework being proposed for funds established as Limited Partnerships without Legal Personality (LPFs), as well as the enhancements which the MFSA has implemented in its authorisation process, particularly the new delegation framework which will allow for a more efficient approval flow.  The workshop also gave participants the opportunity to understand in more depth ongoing supervisory work being performed by the MFSA as well as its supervisory priorities in relation to asset management.

MFSA CEO Kenneth Farrugia opened the event, which was attended by fund managers, law firms, and compliance management companies, amongst others. The Malta Financial Services Advisory Council Chair, Joe Zammit Tabona, was one of the guest speakers, outlining the Asset Management initiatives set out within the National Strategy for Financial Services.

MFSA’s Chief Officer Strategy, Policy and Innovation, Micheal Xuereb, who moderated a panel discussion with interventions from MFSAC, FinanceMalta, Institute of Financial Practitioners and Malta Asset Service Association, remarked: “The MFSA is set to continue refining and creating strategic regulatory policies to strengthen Malta’s positioning in the area of asset management. Our commitment towards sustaining a robust yet flexible regime for the sector is clearly set out in our Strategic Priorities for the next three years. As we plan to undertake more initiatives in this area, our aim is also to ensure that only serious players with high compliance levels are allowed to operate.”

Finally, MFSA Chief Officer Supervision Christopher Buttigieg rounded up the event by emphasising the crucial role that the MFSA plays in instilling a strong compliance culture among practitioners, ensuring that the asset and fund management industry continues to thrive within the local financial landscape.