Malta's financial services practitioners will be meeting tomorrow at a seminar entitled Keeping Abreast of Developments: the IFSP at the Forefront of Change, organised by the Institute of Financial Services Practitioners (IFSP). The seminar will discuss the tax implications of the Budget Measures Implementation Act, and the responsibilities they will be assuming under the recast Prevention of Money Laundering and Funding of Terrorism (PMLFT) Regulations.
After an opening address by Finance Minister Tonio Fenech, three morning sessions run by Chris Curmi, Robert Attard and Neville Gatt will look at the impact of a range of tax-related developments on the practitioners and their clients, with a focus on international business.
The afternoon sessions are largely devoted to PMLFT regulations. Four speakers from the IFSP - Juanita Bencini, Angela Fleri Soler, Michelle Sant and David Grech - will be taking the draft IFSP Guidance Notes on PMLFT to show how the demands made of practitioners are changing, while Manfred Galdes, FIAU director will be outlining the regulator's perspective on compliance monitoring.
The morning will be closed off with an open discussion on current issues.
There is no fixed agenda for this part of the programme: four experienced, leading practitioners - Andrew Manduca, Kenneth Farrugia, Juanita Brockdorff and Andre Zerafa - will participate in discussions on subjects raised by members of the audience, and answer questions on problems people are facing, for what promises to be a very interesting session.
After lunch, the afternoon will kick off with Max Ganado discussing the new aircraft registration regulations, while Joseph Bannister is to bring the day to a close providing insights to practitioners.
Financial services have performed strongly throughout the economic turmoil of the past 18 months, and remain a promising growth area for Malta. The sector's direct contribution to GDP grew by 22 per cent last year, and that performance looks set to continue. Much of this growth comes from international business.
The one- day seminar starts at 9 a.m. and is being held at at the Radisson Blu Golden Sands. The registration fee is €100, or €70 for IFSP members. There is still time to register by emailing the IFSP on info@ifsp.org.mt, or calling on 2569 6312 or 9946 7041.