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Corporate Services Providers at MFSA Workshop

MEDIA ROOM

December 11, 2014

The Institute of Directors’ Malta branch in conjunction with the Malta Institute of Management and the Malta Financial Services Authority held a workshop at the MFSA in Mrieħel attended by 130 corporate service providers. Dr Roger Barker, the Director of Corporate Governance and Professional Standards at the Institute of Directors in the UK was the keynote speaker.

Malta - an inter­national financial and business centre

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.

The integrity of companies in Malta

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.