Company Service Providers - Navigating Compliance Obligations

The legal and regulatory environment governing Company Service Providers (CSPs) is both complex and dynamic, with CSPs expected to adhere to a plethora of obligations imposed by various laws, regulations, as well as other rules and guidance. In their everyday work, CSPs are also required to deal with a number of regulatory and supervisory authorities, including the Malta Financial Services Authority (MFSA), the Financial Intelligence Analysis Unit FIAU), the Malta Business Registry (MBR) and the Sanctions Monitoring Board (SMB).

Against this background, the course has been designed to provide a better understanding of the legislative framework as well as the main requirements that need to be satisfied on an ongoing basis to ensure compliance with regulatory, AML/CFT and sanction obligations. Special attention will be given to the duties and responsibilities of the following two key functions, who assist in ensuring that CSPs continue to operate within the ambit of the law:

· The Compliance Officer; and

· The Money Laundering Reporting Officer.

The following two issues that had been previously highlighted by the Financial Action Task Force (FATF) in connection with the Mutual Evaluation Review, and which continue to be under the regulatory spotlight will also be addressed as these require greater attention by CSPs:

· Beneficial Ownership; and

· Tax-related money laundering.

As part of the course, the main points arising from the thematic reviews conducted by the FIAU on CSPs in connection with compliance with beneficial ownership obligations and the provision of directorship services will be highlighted.

A brief review of the proposed enhancements to the Company Service Providers Framework by the MFSA will also be presented.

The Speaker

Antonio Ghirlando is a seasoned compliance specialist with a specific focus on financial crime compliance, including the prevention of money laundering, countering the funding of terrorism, combatting proliferation finance, sanctions, anti-bribery & corruption, and fraud. He is also well versed in other regulatory compliance obligations.

Antonio is actively involved in the provision of real-time operational support, specialist advice, intuitive guidance and training to several businesses seeking to ensure ongoing compliance with their regulatory obligations. He also assists Money Laundering Reporting Officers (MLROs) and Compliance Officers with their day-to-day tasks and oversight.

During his career he has worked with various licensed entities in both the financial and non-financial sectors, having served as the Head of Compliance, Head of Financial Crime Compliance, Money Laundering Reporting Officer (MLRO) and Data Protection Officer (DPO). He also headed the Compliance and Legal & International Sections of the Financial Intelligence Analysis Unit (FIAU) and served as the Secretary General of the Malta Bankers’ Association (MBA).

Antonio has been involved in several local and international committees, and has also presented numerous papers at various workshops, seminars, conferences and training events. Antonio is a graduate of the University of the Witwatersrand in Johannesburg, South Africa.