Following the publication by the Malta Financial Services Authority ( ‘MFSA’) in December 2020 of its Guidance on Technology Arrangements, ICT and Security Management, and Outsourcing Arrangements (the ‘MFSA ICT Guidance’), and the issuance of a number of related circulars (the ‘ICT Circulars’), more recently, the MFSA sent to all Maltese regulated firms a questionnaire (the ‘ICT Questionnaire).
The Aspida team was out in force at the Annual Governance Guernsey conference yesterday where we were proud to be sponsors.
Not your average holiday read, but our Joint Chair, Wayne Bulpitt, took time during his recent holidays to read the Financial Intelligence Service (FIS) Annual Report 2020 and was struck by how little impact evidence is reported.
Culture is made up of values, beliefs and behaviours which are shared by a group of people and driven by leaders. Everyone in the Financial Services is concerned by it, from junior to senior employee, senior management, the Board of Directors, to shareholders and other key stakeholders. When the workplace is so driven by the bottom line, it is important that a good culture is deeply embedded within an organisation to motivate employees to do right even when no one is looking.