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M22008 - MIFID II obligations with respect to the VFA Act (Online)

  • 19 Jan 2022
  • 13:30 - 15:30
  • Online Webinar


Registration is closed
Registration Time: 13:15
Sessions Time: 13:30 - 15:30 (no break)
Speaker: Mr Pierre Bonnici
Venue: Online Webinar
Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €28.00 
Non-MIA Members: €50.00
Retired Members: €15.00
Students: €20.00

*Group bookings for 3 or more participants available.


The increasing interest and involvement of market participants in cryptographic virtual tokens (cryptocurrencies) brought cryptocurrencies in the limelight of financial regulation. However the unique nature of cryptocurrencies created regulatory uncertainty and the need to establish a new asset class. Malta was one of the first jurisdictions which created a legal framework to provide regulatory certainty within this rapidly growing sector . Malta’s approach led to the development of three new Acts – Virtual Financial Assets Act, Innovative Technology Arrangements & Service Act; and Malta Digital Innovation Authority Act. This approach promotes and enables innovation while preserving financial stability, market integrity and investor protection. The VFA Act established Virtual Financial Assets as a new asset class, laying down a framework for the regulation on key market players within the Virtual Financial Assets sector, including VFA Service Providers.

Specific topics to be covered during the session

1. Overview of the key principles of the VFA Framework with respect to VFA Service Providers VFA Act with focus on:
- the supervisory obligations within Chapter 3 of the VFA rulebook and
- supplementary guidance
And a brief comparison with the MiFiD principles and requirements
2. Obtain further insight on regulatory expectations on VFA service providers including the latest reporting requirements such as the VFASP Return and the Auditor’s role in this regard, and the Live Audit Log.
3. Q&A session based on questions from the attendees.

Why is the session of relevance to our members?

The goal of this training is to gain further understanding of the key supervisory requirements and regulatory obligations of VFASP, Compliance Officers and auditors. In addition this training will also equip other professionals who directly or indirectly offer their services to VFA Service Providers, accountants and auditors working within the VFA sector.

Target Audience 

VFA Service Providers, compliance officers, accountants, auditors, advocates, other professionals working or intending to work with VFA Service Providers      

    Speakers' Profile

    Pierre Bonnici is a senior analyst within the MFSA FinTech Supervision Function focused on VFA Service Provider supervision and risk. Joining the MFSA in 2016, he initially worked within the Securities and Markets Function on the prudential supervision of MiFID Investment Firms. He then moved to FinTech Supervision to help set up the Authorisation and Supervision for VFA authorised persons. Pierre graduated from the University of Malta in 2010 with a Bachelor of Commerce Honours degree majoring in Economics and pursued a career in social and youth work before joining the MFSA.


    2 Hours Core


    Terms and conditions  apply


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