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New year, new courses for January 2022

20 Dec 2021

MITC carries out market-wide surveys and research to determine the most relevant training requirements for the financial service industry.

To plan its yearly CPD sessions for the year 2022, MITC has been busily scheduling programmes relevant to the modern practitioner at a time where businesses are facing emergent challenges related to regulation, compliance and governance in an unprecedented environment brought about by COVID-19 which still dominates the daily news today.

Instructor-led sessions during January

It is no surprise that the CPD sessions in January will kick off with a regulatory session on client disclosures which is a very much talked about topic, since there is an obligation on manufacturers and distributors to ensure that existing customers and potential purchasers of insurance products are well advised and informed on what is being purchased. This is especially important as insurance products are legal and technical products. A highly qualified professional will speak on regulatory disclosure requirements; the session is scheduled for 6 January.

Two sessions will be dedicated to the responsibilities and obligations of directors who are occupying a very important position within a company, which carries statutory and regulatory obligations requiring relevant continuous training and knowledge updates. These sessions will be held on 10 and 17 January 2022 and will cover Directors' obligations under the AML/CFT regime and Boardroom duties and responsibilities respectively.

AML also features during another session wherein the speaker will cover the requirements of the National Interest Act falling under Chapter 365 of the Laws of Malta and which bestows obligations on commercial companies.

As one of the requirements expected by the regulator for CPD purposes is financial literacy, a session on the presentation of accounts is being organised and will be presented by a seasoned practitioner who is not only a qualified accountant but has also worked for several years in the insurance industry and is thus well positioned to relate her experience in this regard. The session will be held on 20 January 2022.

Due to a demand for VAT related programmes, the MITC will organise two introductory sessions on VAT which will be held on the 19 and 26 January 2022. The sessions will give attendees the fundamentals of VAT principles and practices providing an appreciation on how VAT features in the business world.

A motor insurance expert will deliver a technical session on the protection and compensation fund. Those working in underwriting and claims departments of insurance companies are highly encouraged to attend this session since it explains the nuts and bolts of this scheme through real case scenarios where this fund was called upon to pay compensation.

Finally, MITC has invited a representative of the office of the arbiter to give a roundup of the activities during the past year. These real case scenarios serve as live examples to show how the arbiter is involved in settling disputes in the financial services industry in Malta. This session is scheduled for 26 January 2022.

Learning and development at MITC

MITC ensures that the training is diverse and far-reaching, offering an opportunity to all those seeking to comply with the 12 hours of formal structured training. In this respect, we encourage to spread your training obligations throughout the year. We suggest you visit our site at https://www.mitcentre.com/cpds/ to check out what is relevant for your needs.

All sessions planned by the MITC have been tailored in response to feedback received by the market asking for particular topics to complement their professional work. The CPD talks intend, above all, to provide the attendees updated and first-hand information on matters relevant to the business world.

To give us feedback or for tailor made sessions contact us here.