The Malta Financial Services Authority is organising an upcoming conference on asset management titled “Current Developments in Asset Management – Challenges and Opportunities”.
This conference will bring together members of the Maltese asset management community, internationally respected industry experts and academics, as well as policy makers and regulators.
This event will provide participants with the opportunity to hear about upcoming developments in EU regulations, macro supervision of investment funds and the shift from traditional to digital assets and the impact of this shift on asset management.
Delivery of speeches will be followed by two thought-provoking panel discussions relating to the future of asset management supervision as well as a discussion on alternative investments.
Who Should Attend
- Asset Managers
- Fund Directors
- Fund administrators
- Depositories
- Bankers
- Any Other Participants from the Investment Funds Community
Agenda
| 08:30H | Registration & Welcome Coffee | |
| 09:00H | Opening Remarks
Kenneth Farrugia - Chief Executive Officer, MFSA |
|
| 09:15H | Developments in EU Regulation in the Field of Asset Management
Naima Asmane-Boudali - Senior Policy Advisor, European Commission |
|
| 09:45H | Macro Supervision of Investment Funds: Possible Systemic Risks from an Investment Fund Viewpoint
Clement Boidard - Senior Policy Advisor, Investment Management, ESMA |
|
| 10:05H | The Shift from Traditional to Digital Assets and the Interplay with EU Regulation
Filippo Annunziata - Professor of Financial Markets and Banking Legislation, Bocconi University, Milan |
|
| 10:35H | Coffee Break | |
| 11:15H | Navigating Change: Insights on Recent Regulatory Developments
Clare Farrugia - Head, Strategy, Policy and Innovation, MFSA |
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| 11:30H | Asset Management Authorisation Process - The Regulator’s View
Claire Tanti - Deputy Head, Investment Services Supervision, MFSA |
|
| 11:45H | Asset Management - 2025 Supervisory Priorities
Ian Meli - Head, Investment Services Supervision, MFSA |
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| 12:00H | Panel Discussion: Shaping the Future of Asset Management
Ian Meli - Head, Investment Services Supervision, MFSA (Moderator) Alan Hoscheid - Premier Conseiller de Direction, CSSF |
|
| 12:20H | Panel Discussion: Dynamics and Potential of Alternative Investments
Joseph J Agius - Senior Technical Expert, Investment Services Supervision, MFSA (Moderator) Giles Swan - Director, ICI Global |
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| 12:40H | Closing Remarks
Christopher P. Buttigieg - Chief Officer Supervision, MFSA |
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| 13:00H | Light Refreshments & Networking | |
Registrations
The Authority encourages interested participants to register here by not later than Tuesday 27 May 2025.
Registration is on a first come, first served basis. Participants who attend will be eligible for CPD hours.
Photos will be taken during the event with the intent to publish such photos on social media channels and websites. By registering, one would be granting consent to such data being used.
Speakers
Chief Executive Officer, MFSA
Kenneth Farrugia
Kenneth Farrugia, CEO of the MFSA, holds a Bachelor of Accountancy (Hons), an MA in Business Ethics, and is a Certified Public Accountant and a fellow member of the Malta Institute of Accountants (MIA). Throughout his career, Mr Farrugia held audit positions both within private audit firms and the public sector. Prior to joining the MFSA, Mr Farrugia was the Director of the FIAU, Malta’s financial intelligence and single AML/CFT Supervisor and Enforcement Unit in Malta, for six years until April 2023. During his tenure he implemented major policy, system and procedural reforms within the various sections of the FIAU, including intelligence analysis, AML/CFT supervisory and enforcement initiatives, and legal and international relation areas. Additionally, Mr Farrugia spearheaded the setting up of new teams within the Unit such as the cash limitation supervisory team, the central bank account registry and data analytics team, as well as the strategy, policy and quality assurance teams to cater for new responsibilities assigned to the FIAU by law, and also to enhance the overall governance structure of the Unit. He represented the FIAU in international fora, including the EBA AMLC, FIU Platform and EGMONT, amongst others, and participated in various AML/CFT high-level committees. For nine years up to 2017, he was engaged within the Government of Malta’s Internal Audit and Investigations Department (IAID) where he held various roles, including that of Director General. Mr Farrugia provided support to the Internal Audit & Investigations Board (IAIB) in drafting policies and procedures, implementing and managing the necessary change programmes and served as Secretary to that Board. He also participated in various meetings, seminars and conferences organised by the European Commission in the fields of auditing and financial investigations. Mr Farrugia is currently also the Chairman of the FIAU.
Chief Officer Supervision, MFSA
Christopher Buttigieg
Dr Christopher P. Buttigieg was appointed as Chief Officer Supervision in March 2020 following his appointment as Chief Officer Strategy, Policy and Innovation in 2019. During his tenure as Head of Securities and Markets Supervision before 2019, which stretched over four years, Dr Buttigieg was responsible for work in the field of policy, regulation and supervision of securities, markets and FinTech. He joined the Authority in 2000 as Manager in the Investment Services Unit and has gained professional experience in various areas of financial regulation, supervision, the investigation of market misconduct and the enforcement of sanctions. Dr Buttigieg was responsible for implementing various pieces of EU legislation in the field of securities and markets and has led different regulatory and supervisory teams within the Authority. He sits on the Authority’s Supervisory Council and represents the MFSA at various European Fora on financial regulation and supervision. He is the MFSA’s alternate member on the ESMA Board of Supervisors and is the Chair of the ESMA Data Standing Committee. Dr Buttigieg is a lecturer in the Banking and Finance Department of the University of Malta and has published various papers on financial regulation and supervision in academic and professional journals. For a period of two years, up to April 2015, Dr Buttigieg was a director on the board of the Malta Resources Authority, Malta’s energy regulator. In 2015, the President of Malta appointed Dr Buttigieg as a member on the board of the Fund for Voluntary Organisations. Dr Buttigieg is also a member of the Board of Trustees of the Academy of European Law (Trier).
Head, Investment Services Supervision, MFSA
Ian Meli
Ian Meli was appointed Head of Investment Services Supervision in January 2025. Ian joined the Securities and Markets Supervision Function of the MFSA in 2011, after a short stint with a local fund administration company, and progressed through various roles within the function, eventually being promoted to Deputy Head in 2019. He worked on various policy initiatives and conducted several high-profile investigations in the area of asset management and investment firms. He represented the MFSA in a number of fora and working groups within the European Securities and Markets Authority in the field to asset management. Ian has also been a member of the management committee of the Depositor Compensation Scheme and Investor Compensation Scheme since 2022. Ian holds a Bachelor of Commerce (Hons) in Banking and Finance and a Master of Arts in Financial Services, from the University of Malta. He further specialised in financial services by completing an Advanced Diploma in Fund Administration from the University of Manchester.
Head, Strategy, Policy and Innovation, MFSA
Clare Farrugia
Clare Farrugia joined the Malta Financial Services Authority in 2008 and has held various positions within the organisation, gaining considerable experience in the regulation and supervision of financial services. She currently heads the MFSA’s Strategy, Policy and Innovation Function, which contributes towards the Authority’s strategic direction and the policy-making process, in relation to key priority areas. The Function provides advice and analyses on identified current and prospective, regulatory policy work, with respect to the sectors falling within the MFSA’s remit. Furthermore, the Function contributes to the development and implementation of the Authority’s strategic planning and implementation cycle and is critical in developing and supporting the Authority’s engagement with external stakeholders, to ensure the adoption of optimal policy decisions. Clare has a B.Com (Hons.) Banking and Finance degree from the University of Malta and an M.Sc in Finance and Financial Law from the University of London.
Deputy Head, Investment Services Supervision, MFSA
Claire Tanti
Claire joined the MFSA in 2012, following a number of years working in fund management and is currently the Deputy Head within the MFSA’s Investment Services Supervision function. In her role, Claire leads the Authorisations team which is responsible for handling the entire licensing process of authorised firms including Fund Managers, Collective Investment Schemes, Depositaries and Investment Firms. Throughout her career with the Authority, Claire was also involved in the transposition and implementation of various pieces of European financial services legislation in the investment services and asset management fields particularly, the AIFMD, MiFID II, the IFR/IFD and recently, the Sustainable Finance Package. Claire has also participated in a number of internal working groups focusing on enhancing supervisory practices as well as on further developing the local investment services industry.
Senior Technical Expert, Investment Services Supervision, MFSA
Joseph J. Agius
Joseph J. Agius is currently a Senior Technical Advisor within the Investment Securities Supervision of the Malta Financial Services Authority. Joseph started his career in financial services with Mid-Med Bank Ltd in 1978, holding various roles in the retail network. In 1992 he took on the role of Credit Analyst at Mid-Med Bank’s Head Office Credit Department, carrying out credit analysis preparation as well as taking post credit decisions. A few years later, he formed part of a small team tasked with the setting up of Mid-Med Finance Ltd, the group’s merchant banking arm, eventually being appointed Head of this subsidiary. which was subsequently taken over by HSBC. Within the HSBC Group, he was deployed to the asset management division and he has held senior positions in investment management, fund administration and custody including responsibilities for delivering commercial results. He joined the MFSA in April 2014 as Deputy Director Securities and Markets, in which role he was responsible for investment firm and fund supervision and was a lead investigator in a number of high-profile cases resulting in enforcement action. He was later deployed as Head of Financial Stability in 2019 up to 2024 Joseph is an active member of the committee at the Institute of Financial Services Malta and was a Hon Secretary for the Malta Funds Industry Association for a number of years.
Director, ICI Global
Giles Swan
Giles Swan is a Director of Global Fund's policy at ICI Global. Giles started his career in the European mutual fund's sector, before moving to the FSA in 2005. He has led negotiations for the FSA in the Council of Ministers and the European Parliament on the AIFMD and also represented the FSA in ESMAs Investment Management Standing Committee.
Director, Asset Management Regulation, AIMA
James Hopewood
James joined AIMA in September 2022 as Director, Asset Management Regulation. Prior to joining AIMA he worked at the Financial Conduct Authority for 16 years, primarily in policy roles. He was seconded from the FCA to DG FISMA at the European Commission for three years where is was part of the team responsible for alternative fund structures including ELTIF, EuVECA and EuSEF as well as working on the PRIIPS Regulation. James then managed the FCA’s asset management and funds policy team before joining its International Division, representing the FCA at ESMA’s Investment Management Standing Committee and the International Organization of Securities Commission’s Committee 5 on investment management. He also led the policy work on the FCA – Hong Kong SFC memorandum of Understanding on Mutual Recognition of Funds and helped develop the Overseas Funds Regime. His initial role at the FSA was as a member of the policy team responsible for the rules on unit-linked and with-profits insurance business. Before joining the UK regulator, James was a financial journalist. He has a BA in European History and French from the University of East Anglia and a Diploma in Printing and Publishing Studies from the London College of Printing.
Premier Conseiller de Direction, CSSF
Alan Hoscheid
Alain Hoscheid is Premier Conseiller de Direction at the Commission de Surveillance du Secteur Financier (CSSF) where he has been since 2002. He currently serves as Head of the “Prudential Supervision and Risk Management” department within the UCI métier.
Senior Policy Advisor, European Commission
Naïma Asmane-Boudali
Naïma Asmane-Boudali is seconded to the European Commission from the French AMF, where she was executive director of the division in charge of the inspection of asset managers and investment advisors Naïma started her career as a risk manager in an international bank. Financial regulation has been the core of her work since she joined the AMF in 2005 as a senior inspector covering both investment service providers and asset managers. In 2009, she further specialised in asset management by taking the lead of the inspection team, which subsequently extended its remit to investment advisors. Naïma is a statistician-economist graduated from ENSAE and Paris-Dauphine University.
Senior Manager, Wealth and Asset Management, KPMG Switzerland
Volker Kang
Volker advises national and international financial services clients in Switzerland and Liechtenstein. Volker has extensive industry and consulting experience in the Wealth and Asset Management Sector. He is navigating the regulatory intricacies of Swiss, EU and UK markets. For example, Volker is in charge of projects and legal aspects of Swiss regulatory requirements (e.g. CISA, CISO, FinSA, FinSO, FinIA, FINMA Circulars). He is also engaged in EU and UK regulatory projects relating to UCITS, AIFMD, MiFID II, PRIIP, FCA Consumer Duty requirements and their impact on Swiss financial intermediaries. Additionally, Volker is actively involved in strategic transformation projects of financial institutions.
Chairperson, Malta Asset Servicing Association (MASA)
Anabel Mifsud
Anabel joined Fexserv Fund Services in 2008 and today occupies the position of Managing Director. She started her career in audit and assurance with PwC where she was involved within different industries and worked in offices including Malta and London. Subsequently she took up accountancy and finance positions with leading entities operating out of Malta including an appointment within the Finance Department of HSBC Securities Services (Malta) Limited. She holds a Bachelor of Commerce degree, an Honours degree in Accountancy and a Masters degree in Financial Services from the University of Malta. Anabel is an EFAMA Board member, the appointed Chairperson of the Malta Asset Servicing Association (MASA) is an appointed Governor on the Board of Finance Malta. She is also actively involved in various industry discussions and is a visiting lecturer at the University of Malta.
Managing Partner, Ganado Advocates
André Zerafa
Andre Zerafa is the managing partner of the firm and also co-heads the firm’s investment services and funds practice. André regularly advises promoters on various corporate, regulatory and other legal issues involved in the setting up of asset management firms, administrators, custodians, prime brokers and securitisation vehicles. He also specialises in the structuring and establishment of alternative investment funds, UCITS funds and other retail funds. André was involved in the setting up of the first segregated patrimony umbrella fund in Malta. His team also advises one of Malta’s largest banks on their range of retail funds. André is particularly knowledgeable on the structuring of Maltese limited partnerships and contractual funds. André also acts as an external examiner and tutor at the University of Malta (Faculty of Laws). He is also a council member of the Maltese Institute of Financial Services Practitioners. He is also an ACAMS Certified Anti-Money Laundering Specialist.
Professor of Financial Markets & Banking Legislation, Bocconi University, Milan
Filippo Annunziata
He is Professor of Financial Markets and Banking Legislation at Bocconi University. Member of the Faculty of the PhD in Legal Studies at Bocconi University. Filippo is also a Professor of Musicology at Università degli Studi di Milano. Previously he was Professor of Financial Markets and Banking Legislation at University of Bologna (1998-2007), where he taught also Competition Law and Banking Law. Previously he was a tenured researcher of Commercial Law at Bocconi University (1994-2008). Recognized as Full professor in 2017.
Senior Policy Advisor, Investment Management, ESMA
Clement Boidard
Clement Boidard is a Senior Policy Officer at ESMA in the Investment Management Unit. Clement has 18 years of experience in the field of supervision and regulation. Clement started his career at the Autorite des Marches Financiers (Paris) in 2006, in the fund authorisation department. Clement joined in 2009 the Committee of European Securities Regulators (CESR) as policy officer in the investment management team in which he was in charge of developing the UCITS IV Technical Advice or the CESR guidelines on Money Market Funds. Since 2011 and the creation of ESMA, Clement held several positions (financial innovation, secondary market, investment management).
Independent Director & Investment Committee Member
Steven Tedesco
Steven Tedesco is a Chartered Fellow of the Chartered Institute for Securities & Investment with a distinguished career in asset management. Beginning his career in 1995, he rose to become Director, Deputy Head, and Chief Investment Officer at HSBC Global Asset Management (Malta) Limited, where he managed assets exceeding EUR 1 billion. Currently, Steven runs his own consultancy business, offering services as a non-executive director and independent investment committee member for entities in the alternative fund and asset management industry. He provides consultancy on independent valuation of derivatives and chairs several prominent boards, including HSBC Malta Funds SICAV plc and Convera Malta Financial Ltd. He also leads the Investment Committees of various companies managing assets surpassing EUR 3 billion. In addition, Mr. Tedesco serves as a Director on the Malta Stock Exchange and chairs its Audit Committee, bringing his extensive expertise to the financial sector.
