The Institute of Directors’ Malta Branch (IoD) chairman James Satariano reported that over 130 delegates attended the workshop for company service providers (CSPs) organised by the IoD in conjunction with the Malta Financial Services Authority (MFSA) and the Malta Institute of Management (MIM).
During his opening address, Mr Satariano stressed that Malta’s solid reputation as a trusted international financial and business centre depends on improved standards in corporate governance.
The packed hall was then addressed by keynote speaker Dr Barker, the Director of Corporate Governance and Professional Standards at the Institute of Directors in the UK. Dr Barker said that the limited liability company is the cornerstone and building-block of the modern economy. However, while it can be used for legitimate purposes, it was important to understand that it can also be the vehicle for criminal purposes. This negatively impacts the reputation of the entire economic system. This, he said, is what all jurisdictions must manage to maintain integrity. Dr Barker said The Company Service Providers Act 2013 is a positive step forward for the integrity of companies in Malta but it is not the end of the journey. The workshop, moderated by Ogilvy CEO Edwin Ward, was held at the MFSA’s building in Mrieħel.