Information session on Introducer’s Agreement with Bank of Valletta p.l.c.

Joint announcement of the Institute of Financial Services Practitioners (IFSP)/Malta Institute of Accountants (MIA)

As both organisations have previously advised, it has been brought to the attention of both the IFSP and the MIA that a number of local banks were requesting that members acting as corporate service providers sign a Terms of Business Letter in order to act as an “introducer of clients” to the banks. Members of both organisations have expressed their concerns about the contents and terms laid out in these letters.

The IFSP and the MIA have over the past months worked together to review the agreement proposed by Bank of Valletta (the Bank). A number of positive meetings have been held with the Bank, and a final agreement has been redrafted and finalised. Accordingly, we have been informed by Bank officials that the revised agreement is now in use.

An information session explaining the various sections of the revised ‘Introducer Agreement’ will be organised on two dates in July: 21 July and 25 July. On both days, the sessions will begin at 09:00. Brief background information will be given and question time allowed. The event will end by not later than 12:00. The sessions will be held at BOV Centre, Sta. Venera. Further details will follow.

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To attend, please send an email indicating your preferred date of attendance to events@ifsp.org.mt. Unfortunately, there is limited space in the BOV Conference Hall; if the session on a particular date is full, we will contact you to offer you a place on the alternate date.