IFSP AGM increases Council to 17
Larger Council needed to handle increased workload as a result of MONEYVAL and political uncertainty, while Institute also deals with disciplinary action for the first time in its 31 year history.
Dr Wayne Pisani was reconfirmed as President of the IFSP during the Institute’s Annual General Meeting held online on Thursday, 9 July 2020, which elected the IFSP Council for 2020/21. Three new faces joined this year: Dr Joseph Ghio, Dr James Scerri Worley and Mr Matthew Zampa.
Two of the IFSP’s founders, Andrew Manduca and Kevin Valenzia, retired this year after more than thirty years of service to the Institute and indeed the profession as a whole. Both have been made Honorary Life Members of the Institute in recognition for their contribution to the practice of financial services in Malta.
The AGM decided to increase this year’s Council to 17 members in order to ensure the Institute has the capacity to deal with the increased number of issues expected over the next year. In his annual Council Report, the IFSP’s President, Dr Pisani told Institute members that during the 2019/20 term, the IFSP faced an unprecedented number of calls for its contribution at least partly attributable to the national response to the 2019 MONEYVAL evaluation report and its recommendations, and to the political instability the Country is facing.
It is highly likely that the same conditions, with the same calls upon the IFSP, to be handled both by the sub-committees and the Council members, will continue to hold throughout 2020/21.
For a full account of the activities of the IFSP over the past year, please refer to the President’s Council Report for 2019/20.
In the fall out from the various crises that gripped Malta over the past few years, the IFSP has also had to deal with possible breaches of the Code of Ethics Institute members commit to upholding. The numbers are very small but in its more than 30 years of existence, this is the first time the IFSP has been in this situation, and the AGM discussed and approved a series of amendments to the Charter which codify a clear procedure for disciplinary action.
The IFSP Council for 2020/21 is: Dr Wayne Pisani, President; Mr Nick Captur, Vice-President; Dr Rosanne Bonnici, Honorary Secretary; Mr Chris Curmi, Treasurer; Ms Juanita Bencini, Chair, PMLFT sub-committee; Dr Joseph Ghio, Chair, Investment Business sub-committee; Mr Mirko Rapa, Chair, Education sub-committee; Mr Matthew Zampa, Chair, Marketing & Ethics sub-committee; Mr Andre Zarb, Chair, Tax and EU Affairs sub-committee; Dr Robert Attard; Dr Stephen Attard; Dr Juanita Brockdorff; Dr Neville Gatt; Mr Chris Naudi; Dr James Scerri Worley; Dr Andrew Zammit; and Dr Andre Zerafa.