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exITING THE 'GREY LIST'

Date: 7 December 2021

Event CPE Competencies: 5.5 Core Hours

Doors open: 8:00 AM

Start: 9:00 AM  End: 4:00 PM

Location: Radisson Blu, St George's Bay St. Julian's, STJ 3391

Details for Admission: All attendees must provide proof of Covid-19 Vaccination by validating their certificate prior entry to the premises.

Prices:

Members - €95.00

Non-members - €120.00

Retired members & Students - €85.00

POWERED BY




BACKGROUND INFORMATION

Malta was placed on the FATF’s 'grey list' in June 2021. From the outset, both the national authorities and professional bodies like the Malta Institute of Accountants have been working incessantly to ensure that Malta exits the said 'grey list' as soon as possible. 'Grey listing' augments the risk for a country to lose on investments due to the higher risk which is assigned to any entity operating out of Malta. However, the MIA staunchly believes that professionals themselves, in close collaboration with the relevant authorities, play a role in addressing the concerns raised by the FATF when 'grey listing' Malta. 


OBJECTIVES

The MIA has brought together all the relevant competent authorities together with key-note speakers on the subject-matter to provide an insight into the main concerns raised by the FATF. Speakers will focus on the challenges brought about by grey listing with the objective of addressing same. The line-up of speakers includes representatives of the following authorities as well as a key-note speaker from Iceland who will provide participants with the experience of Iceland in exiting the ‘grey list’:

·        The Financial Intelligence Analysis Unit

·        The National Coordinating Committee on Combatting Money Laundering and Funding of Terrorism

·        The Malta Financial Services Authority

·        The Malta Business Registry

·        The Office of the Commissioner for Revenue

AGENDA

9.00 – 9.10 – Introductory speech

9.10 – 9.20 – Opening address by Mr David Delicata, President of the MIA and Ms Maria Cauchi Delia, CEO of the MIA

9.20 – 9.40 – An overview of Malta’s action plan to exit the “grey list” – Dr Helga Buttigieg Debono, Executive Head, National Coordinating Committee on Combating Money Laundering & Funding of Terrorism

9.40 – 10.00 – The findings of Moneyval and the FATF on the accuracy of beneficial ownership information – Dr Manfred Galdes, MIA’s AML Committee Co-Chair, Managing Partner, ARQ Group.

10.00 – 10.20 – A professional’s perspective: the obligation of understanding beneficial ownership information – Dr Rakele Cini, MIA’s AML Committee member, Independent Legal Consultant.

10.20 – 11.00 - Panel discussion with a focus on Beneficial Ownership: the challenges being faced by professionals and regulatory expectations.

Panelists include; Dr Helga Buttigieg Debono, Executive Head, National Coordinating Committee on Combating Money Laundering & Funding of Terrorism; Dr Geraldine Spiteri Lucas, Registrar, Malta Business Registry; Ms Emily Benson, Head, Conduct Supervision, Malta Financial Services Authority; Dr Manfred Galdes, MIA’s AML Committee Chairperson, Managing Partner, ARQ Group; Dr Rakele Cini, MIA’s AML Committee member, Independent Legal Consultant; and Ms Ariane Azzopardi, MIA’s AML Committee Co-Chair, Director, KPMG. - Moderator

11.00 – 11.20 – Question Time

11.20 – 11.40 – Coffee Break

11.40 – 12.00 – The findings of Moneyval and the FATF relating to tax evasion – Mr Alan Craig, MIA’s AML Committee member, Partner, Mazars.

12.00 – 12.20 – Tax evasion as a predicate offence for money laundering – more questions than answers? – Dr Conrad Cassar Torregiani, MIA’s Gaming Committee Chairperson, President of the Malta Institute of Taxation.

12.20 – 13.00 – Panel discussion with a focus on tax crimes and the need for legislative reform.

Panelists include; Mr Marvin Gaerty, Commissioner for Revenue, Office of the Commissioner for Revenue; Mr Kenneth Farrugia, Director, Financial Intelligence Analysis Unit; Mr Alan Craig, MIA’s AML Committee member, Partner, Mazars; Dr Conrad Cassar Torregiani, MIA’s Gaming Committee Chairperson; and Mr George Gregory, MIA’s AML Committee member, Managing Partner, RSM - Moderator

13.00 – 13.20 – Question Time

13.20 – 14.30 – Networking lunch

14.30 – 14.50 – Exiting the “grey list”: Iceland’s experience – Mr Teitur Már Sveinsson, Senior Advisor in the Ministry of Justice, Chairman of the Steering Committee on Actions against Money Laundering, Terrorist Financing and Proliferation and, Head of Iceland´s Delegation to the FATF.

14.50 – 15.30 – Panel discussion with a focus on our role as professionals to exit the “grey list”.

Panelists include; Ms Joette Sciortino, MIA’s AML Committee member, Associate Partner, Ernst & Young Ltd; Mr John Debattista, MIA’s SMP Committee member, Partner, Zampa Debattista; Mr Christian Gravina, MIA Council member, CEO, GCS Malta; and Ms Lucienne Pace Ross, MIA’s AML Committee member, Partner, PwC - Moderator

15.30 – 15.50 - Question time

15.50 – 16.00 – Closing address by the Co-Chairs of the MIA’s AML Committee.


The agenda & speakers are subject to changes.



SPEAKERS


Mr David Delicata, MIA President

David is an Audit and Assurance Director with Deloitte Malta and is the firm’s Assurance Leader and Regulatory Leader. Over the years, David has led several audit and assurance engagements covering a wide range of national and multinational clients operating in different industries, but predominately in the consumer business and gaming sectors.   He currently acts as the Lead Client Service Director on a number of multinational public and private companies. David was elected as a member of the Council of the Malta Institute of Accountants in 2014 and its President as from October 2021.





Ms Maria Cauchi Delia, MIA CEO

Maria Cauchi Delia is the CEO of the Malta Institute of Accountants, leading the strategy of the approved professional accountancy organisation in Malta. She represents the Institute with top-level national and international stakeholders.

A certified public accountant, Ms Cauchi Delia has broad experience in the public and private sectors and has served in organisations both in Malta and abroad. She graduated from the University of Malta and is a Fellow Member of the Malta Institute of Accountants.




Dr Helga Buttigieg Debono, Executive Head, National Coordinating Committee on Combating Money Laundering & Funding of Terrorism

Dr. Helga Buttigieg Debono was appointed as the Executive Head of the National Coordinating Committee for Money Laundering and Financing of Terrorism Secretariat in June 2018.  She currently leads a team of professionals including strategic and implementation analysts involved in assessing the risks attributed to Money Laundering and Financing of Terrorism.  The Secretariat she leads is responsible for the coordination of the various competent authorities currently involved in the prevention of money laundering and financing of terrorism. This Secretariat also aims to facilitate not only the cooperation but also the sharing of intelligence between the participating stakeholders so that the local system may effectively address the deduction and prevention of all money-laundering related crimes in order to ensure the stability and integrity of Malta’s economy. This Secretariat is the administrative arm of the National Coordinating Committee for Money Laundering and Financing of Terrorism.





Dr Manfred Galdes, MIA’s AML Committee Co-Chair, Managing Partner, ARQ Group

A lawyer by profession, Dr Galdes has over the past 20 years held leading roles in the area of regulatory and AML compliance. Today he leads a multi-disciplinary team at ARQ that advises major domestic financial institutions and top-tier gaming companies, assisting them in ensuring compliance with a range of applicable laws. He is also a non-executive director and chair of the Risk Committee of HSBC Malta plc, Co-chair of the AML Sub-Committee of the Malta Institute of Accountants and Strategy Director of the ACAMS Malta Chapter. Dr Galdes is the former director of the FIAU, a position he held for eight years.




Dr Rakele Cini, MIA’s AML Committee member, Independent Legal Consultant

Dr Rakele Cini is an independent legal consultant with many years of experience in AML/CFT, regulatory and compliance advisory. She primarily advises local & international firms / practitioners operating within the regulated industries on matters relating to the prevention of money laundering & funding of terrorism, due diligence, risk management, good governance, and other compliance areas. She is invited to lecture regularly by private institutions and regulatory bodies on these topics. She was previously head of Risk & Compliance at BDO Malta and, prior to that, formed part of the practice protection group at Deloitte Malta for numerous years. Rakele is an active member of the PMLFT sub-committee at the Malta Institute of Accountants and the Institute of Financial Services Practitioners.




Dr Geraldine Spiteri Lucas, Registrar, Malta Business Registry

Dr Spiteri Lucas was appointed as Registrar of Companies and Chief Executive Office of the Malta Business Registry in October 2021. Previously to her appointment, she used to head the Legal and Enforcement Unit and was in charge of its overall function. Dr Spiteri Lucas was instrumental to subject persons and CSPs in intricate legal issues. She was involved in the transposition of EU directives relating to company law into Maltese law and the upkeep of the Companies Act and relevant regulations. She is frequently invited as speaker in conferences on company law. 



Ms Emily Benson, Head, Conduct Supervision, Malta Financial Services Authority

Ms Benson was appointed Head of Conduct Supervision in March 2020. Emily is a UK regulatory lawyer with over 30 years of experience in the Financial Services sector. After qualifying as a solicitor in private practice, her career has included senior positions with the UK’s financial services regulator, then the FSA, and in-house with a high profile bank and a leading insurer. She has also worked for private firms and with a global consultancy firm. Her clients have been from all retail sectors and she is highly experienced in all forms of regulatory investigations and reviews, including leading reviews commissioned by the FCA under its skilled persons regime. Recently as Department Head in a leading UK law firm, she has advised on all types of regulatory processes including authorisations, compliance and corporate governance requirements for investment firms, intermediaries and banks and has led complex investigations and remediation projects. In addition to leading the regulator’s cross sectoral supervision of conduct, she will be continuing the regulator’s supervision of trustees and corporate service providers.




Ms Ariane Azzopardi, MIA’s AML Committee Co-Chair, Director, KPMG

Ms Azzopardi is a Director within the Quality and Risk Management function. She has over fifteen years’ experience in this field, and is the delegate of the Risk Management Partner at KPMG in Malta. She is involved in the implementation and monitoring compliance with quality and risk management policies and procedures in KPMG in Malta also handling compliance and risk management queries, including those related to the Prevention of Money Laundering and Financing of Terrorism (PMLFT) and ethics and independence. She delivers sessions on PMLFT at the KPMG roundtable and also at various other seminars and conferences. Ms Azzopardi is a co-chair of the PMLFT sub-committee at the Malta Institute of Accountants and a committee member of the PMLFT sub-committee at the Institute of Financial Services Practitioners.





Mr Alan Craig, MIA’s AML Committee Member, Partner, Mazars

Alan Craig is a partner at Mazars in Malta, responsible for business advisory services. Hisresponsibilities include governance and risk consulting, anti-money laundering compliance, forensic investigations and regulatory compliance. He is an appointed court expert for financial crime and has assisted regulatory authorities on various compliance and analytical engagements.



Mr George Gregory


Dr Conrad Cassar Torregiani, MIA’s Gaming Committee Chairperson, President of the Malta Institute of Taxation

Conrad Cassar Torregiani is a lawyer by training with a masters in international tax law. Conrad is president of the Malta Institute of Taxation, leads the Deloitte Malta tax practice and chairs the Gaming Committee of the Malta Institute of Accountants. Conrad has over 20 years of experience in advising clients on matters of taxation.





Mr Marvin Gaerty FCCA, CPA, M.I.T., M.I.A. Commissioner for Revenue

Mr Marvin Gaerty is a member of the Association of Chartered Certified Accountants, and he is currently the Commissioner for Revenue, having previously worked as a tax advisor, stockbroker and compliance officer with a company providing investment services. 




 Mr Kenneth Farrugia, Director, Financial Intelligence Analysis Unit

Mr Farrugia holds a Bachelor of Accountancy (Hons) and a MA in Business Ethics. He is a Certified Public Accountant, a fellow member of the Malta Institute of Accountants (MIA) and a member within the Malta Forum of Internal Auditors (MFIA). Throughout his career Mr Farrugia held audit positions both within private audit firms and the public sector. Prior to joining the FIAU, for nine years up to 2017, he was engaged within the Internal Audit and Investigations Department (IAID) and as from November 2012 he headed the Department as Director General. Mr Farrugia has extensive experience in EU Funds Audits, Internal Audit, Risk Management, Financial Investigations and OLAF Anti-Fraud Coordinating Services (AFCOS) related matters. He provided support to the Internal Audit & Investigations Board (IAIB) to draft policies and procedures, to implement and manage the necessary change programmes and served as Secretary to that Board. Mr Farrugia participated in various meetings, seminars and conferences organised by the European Commission in the fields of auditing and financial investigations. 







Ms Joette Sciortino, MIA’s AML Committee member, Associate Partner, Ernst & Young Ltd

Ms Joette Sciortino is an Associate Partner at EY Malta. She has over 10 years experience in supporting and leading compliance engagements including financial crime and regulatory projects. Joette has spent four years in UK supporting such projects and led various cross-border engagements. Joette is a Certified Public Accountant and a member of the Malta Institute of Accountants. 





Mr John Debattista, MIA’s SMP Committee member, Partner, Zampa Debattista 

John Debattista is a Certified Public Accountant and Registered Auditor. Mr Debattista is one of the founding partners at Zampa Debattista and heads the Audit and Assurance function and the firm’s IFRS Advisory Technical team. John lectured the Corporate modules at the final stages of the ACCA and ACA course for the ICAEW, Institute Chartered of Accountants for England and Wales. He is also a speaker in various audit and accounting seminars delivered by a number of institutes in Malta. He also lectured the Diploma in IFRS (DipIFR). John sits on a number of MIA committees namely, the audit, financial reporting and SMP committees. John Debattista is also the MLRO of the audit arm at Zampa Debattista group.




Ms Lucienne Pace Ross, MIA’s AML Committee member, Partner, PwC 

Lucienne joined PwC in 1997 after obtaining a degree in Accountancy from the University of Malta and has since worked with the firm, obtaining experience on both local and international client assignments. Lucienne was appointed as Asssurance partner at PwC on 1 July 2006.

Lucienne acts as the quality and risk management partner and MLRO to the firm. She is a council member member at the Malta Institute of Accountants as well as actively involved in the Auditing and AML Committees of the Institute.



More speakers to be added in due course.

               
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