THE CHANGING NATURE OF CORPORATE GOVERNANCE FOLLOWING THE EUROZONE CRISIS Thursday 17th January 2013

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1 THE CHANGING NATURE OF CORPORATE GOVERNANCE FOLLOWING THE EUROZONE CRISIS Thursday 17th January 2013 In collaboration with the Malta Financial Services Authority Institute of Directors Malta Branch THE EVENT IS FREE OF CHARGE BUT PRE-REGISTRATION IS NECESSARY ONLINE AT BY NO LATER THAN FRIDAY 4TH JANUARY 2013.

FLYING THE FLAG FOR CORPORATE GOVERNANCE Financial services have become a cornerstone of our economy, with their contribution to Malta s GDP approaching 20%, financial services are in the spotlight

2 FLYING THE FLAG FOR CORPORATE GOVERNANCE Financial services have become a cornerstone of our economy, with their contribution to Malta s GDP approaching 20%, financial services are in the spotlight like never before. The global banking system seems to have been stumbling from one crisis to another for the last five years. With Malta s growing international financial centre, we are not immune to the winds of globalisation, and we must manage our jurisdiction in a way that promotes confidence, while ensuring that we avoid the contamination that has struck elsewhere. Malta s highly regarded jurisdiction is beginning to move towards the top-tier, and is gaining traction as an EU onshore solution for many segments. There is a considerable international presence on Malta, therefore our very topical theme for IoD s first Corporate Governance event of 2013 is, The changing nature of Corporate Governance following the Eurozone crisis. We are fortunate to have a raft of leading speakers to stimulate productive debate. We look forward to welcoming you to this key event in Malta s financial calendar and to contributing to the discussion about appropriate and ethical governance under the Malta flag. James J. Satariano Chairman, IoD Malta

3 PROGRAMME 4.00pm 4.30pm 4.35pm 4.40pm 5.10pm 5.40pm 6.00pm 6.20pm 6.45pm 6.55pm Registration Introduction by Mr James Satariano Chairman, IoD Malta Introductions by Mr Peter Barrett, Conference Moderator Mr Frederick Mifsud Bonnici, Chairman, Bank of Valletta plc Professor Josef Bonnici, Governor, Central Bank of Malta Coffee break Dr Anton Bartolo, Director, MFSA Enforcement Unit Dr Michael Xuereb, Director, MFSA Regulatory Development Unit Q&A with Mr Peter Barrett and the speakers Closing address by Mr James Satariano The event above has been accredited with 2.5 hours of structured CPE qualifying for the attainment of Professional Development Competencies in terms of the MIA CPE Regulations.

SPEAKERS Mr Frederick Mifsud Bonnici Chairman, Bank of Valletta plc Appointed Chairman of the Board of Bank of Valletta plc and its subsidiaries in July 2012, Mr Frederick Mifsud Bonnici also chairs

4 SPEAKERS Mr Frederick Mifsud Bonnici Chairman, Bank of Valletta plc Appointed Chairman of the Board of Bank of Valletta plc and its subsidiaries in July 2012, Mr Frederick Mifsud Bonnici also chairs the board of MSV Life plc. He is also a member of the boards of Middlesea Insurance plc and Malita Investments plc. His professional career as an auditor with PricewaterhouseCoopers Malta and London spans over 42 years. He retired from the Malta firm in 2011 after being head of Risk Management and Assurance Leader as well as a member of the Management Board. Mr Mifsud Bonnici has specialist expertise in financial services and regulatory matters. He has served first as Deputy Chairman and then Chairman at the Malta Stock Exchange for four and five years respectively. He has been a member of the Council of the Malta Institute of Accountants uninterruptedly for over 30 years and he is also a senior lecturer in Auditing at the University of Malta. Global view of regulations Impact of EU regulations in Malta Specific issues which Malta needs to address

SPEAKERS Professor Josef Bonnici Governor, Central Bank of Malta Josef Bonnici was appointed as Governor of the Central Bank of Malta for five years with effect from 1 July 2011 after serving as

(Hons) in Economics from the University of Malta, and read for his Masters and PhD from Simon Fraser University, Canada specialising in the areas of Monetary Economics, Macroeconomics and

5 SPEAKERS Professor Josef Bonnici Governor, Central Bank of Malta Josef Bonnici was appointed as Governor of the Central Bank of Malta for five years with effect from 1 July 2011 after serving as Director on the Board of the Bank. He graduated B.A. (Hons) in Economics from the University of Malta, and read for his Masters and PhD from Simon Fraser University, Canada specialising in the areas of Monetary Economics, Macroeconomics and Econometrics. He was awarded a Doctor of Humanities, Honoris Causa from Rikkyo University in Japan. Josef Bonnici has published books and many articles in professional Economics journals, and lectured at Deakin University in Australia, and Simon Fraser University in Canada. He was advisor to the Prime Minister of Malta, Parliamentary Secretary in Finance and Minister for Economic Services in two legislatures, with a wide portfolio, including that of economic development policy. He was Observer member of the European Parliament, and Member of the European Court of Auditors, with responsibility for the institution's Statement of Assurance (DAS). Prior to his appointment as Governor Josef Bonnici held the post of Professor of Economics at the University of Malta, focusing primarily on Monetary Economics, Macroeconomics and Econometrics. Function of the bank Role relationship to MFSA Issues facing Central Banks following the Euro Zone Crisis A further step in non-standard ECB measures: OMT - their purpose and design Issues related to the proposed Banking Union

In 1994 Dr Bartolo moved to the legal department of the Malta International Business Authority (the predecessor of the Malta Financial Services Authority) and in 1999 he was appointed Director

6 SPEAKERS Dr Anton Bartolo Director, MFSA Enforcement Unit Dr Anton Bartolo is a lawyer by profession. He graduated from the University of Malta in 1986 and following a period in private practice he joined a leading accountancy firm. In 1994 Dr Bartolo moved to the legal department of the Malta International Business Authority (the predecessor of the Malta Financial Services Authority) and in 1999 he was appointed Director International Business and subsequently Registrar of Companies. Dr Bartolo has co-ordinated anti-money laundering matters within the MFSA for a number of years. He acted as Money Laundering Reporting Officer and MFSA representative on the Joint Committee on Anti-Money Laundering. Upon the establishment of the Financial Intelligence Analysis Unit (FIAU), Dr Bartolo was appointed member of the Board of Governors. He is currently the Deputy Chairman of the FIAU. Dr Bartolo is also the head of the Maltese delegation to the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL). He is currently the Vice-President of MONEYVAL. Dr Bartolo is also co-chair of the Europe- Eurasia Regional Review Group within the Financial Action Task Force (FATF). Late in 2011 Dr Bartolo gave up the position of Registrar of Companies to take up the duties of Director - Enforcement Unit within the MFSA. Session: The changing financial services landscape Recent developments in the Anti-Money Laundering and CFT field Corporate Governance and AML

SPEAKERS Dr Michael Xuereb Director, MFSA Regulatory Development Unit Michael Xuereb is Director for regulatory development at the Malta Financial Services Authority.

He is currently a governor on the board of FinanceMalta, has held directorships in the Malta Development Fund, the Lotteries and Gaming Authority and other entities, and been involved in EU-Med

Session: The changing financial services landscape Evolution of European regulatory structures Developments in prudential regulation and conduct of business rules Regulation-driven growth: European

started his ownconsulting business, Organisation Development Ltd in 1988, helping Family firms to professionalise.

7 SPEAKERS Dr Michael Xuereb Director, MFSA Regulatory Development Unit Michael Xuereb is Director for regulatory development at the Malta Financial Services Authority. He has held a number of posts including those of Counsel for the Republic at the Attorney General s Office, General Manager of the Malta Development Corporation and associate in a private law firm. He is currently a governor on the board of FinanceMalta, has held directorships in the Malta Development Fund, the Lotteries and Gaming Authority and other entities, and been involved in EU-Med industrial policy groups. Michael read law at the University of Malta and holds a Masters degree in financial services. Session: The changing financial services landscape Evolution of European regulatory structures Developments in prudential regulation and conduct of business rules Regulation-driven growth: European and national perspectives Mr Peter Barrett Conference Moderator Peter Barrett was a Board member of leading Hong Kong companies, Hutchison Whampoa and Hong Kong Telephone for 15 years until he started his ownconsulting business, Organisation Development Ltd in 1988, helping Family firms to professionalise. His lecture series on corporate governance for the Hong Kong IOD led to their diploma in corporate governance. As a founding council member of that body he was awarded Honorary Council life membership for his contributions to the Institute. Having sold his business, he now is Deputy Chairman of The Leprosy Project which assists people affected by leprosy in Sichuan Province, China, managing 9 leprosy villages. Peter has assisted IOD Malta for many years, both in presenting programmes and assisting with their design.

8 BOOKINGS The event is free of charge but pre-registration is necessary Online at by no later than Friday 4th January 2013 Institute of Directors Malta Branch For further information about IoD please contact the Honorary Secretary, James Arrigo via

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