The Malta Association of Compliance Officers (MACO) was launched for the purpose of providing networking opportunities and continuous professional development to its members.
Following a long-felt need for a body that unites practitioners engaged in the field of compliance within institutions involved in financial services, the MACO aims at informing and updating its members through the organisation, co-ordination and certification of educational and professional development in related fields.
The Malta International Training Centre (MITC), a subsidiary company of the Malta Financial Services Authority, took the initiative to promote and kick-start the establishment of this association and hence will initially provide for the administration of the MACO and organise training aimed to satisfy the needs of the members.
During the launch, Mr Joseph Demanuele, Chairman of the MITC, explained the intentions behind this initiative. He was followed by guest speaker Dr Simon Grima, Head of the Department of Insurance at the University of Malta, who outlined the importance of continuous professional development and education (CPD and CPE) since this is one of the conditions for membership.
Other benefits and objectives were further explained by Director of Studies of the MITC, Mr Andre Farrugia who gave an overview of the proposed draft Statute and Code of Ethics and proposed a plan for the formation of the first Council. He encouraged practitioners to join as members which shall remain open until the end of this year before an EGM is held wherein the first Council shall be elected from amongst its members.
Amongst the benefits of membership are the availability of a forum for networking and discussing compliance and regulatory issues and the promotion of good compliance practice and business ethics in financial services, participation in meetings/seminars with high-quality and expert speakers covering topical and relevant issues of a regulatory or compliance nature and a cost effective and practical source of continuing professional development (CPD) and education on issues of compliance and regulation and related professional ethics.
Registrations for membership are being received at the Malta International Training Centre Suite 3 Level 1, Brewery Street, Imrieħel. Enquiries or requests for application packs should be addressed to MITC by e-mail to info@mitcentre.com.
MFSA Newsletter - December 2015
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