Suitability and appropriateness assessments - the challenges and solutions
- 19 May 2021
- 17:00–19:00 CET
This session will outline the main regulatory requirements surrounding the suitability and appropriateness assessments in particular as they emerge under Chapter 4 of the Conduct of Business Rulebook. We will also address the application of these assessments in the different scenarios associated with the sale of insurance-based investment products. The session will also provide practical insight into the application of such assessments and in doing so will highlight the challenges faced with running these tests but also the benefits that accrue through their application, both for the regulated persons as well as for the customers.
- Advice vs non-advice
- Assessing clients’ demands and needs
- Assessment of Suitability: regulatory requirements, practical insight, associated challenges and benefits
- Assessment of Appropriateness: regulatory
- Requirements, practical insight, associated challenges and benefits
This session will outline the main regulatory requirements surrounding the suitability and appropriateness assessments, their application in practice within the context of sales of insurance-based investment products, the challenges that come with such implementation as well as the benefits, which accrue through their implementation.
Distributors of insurance products including intermediaries and insurance entities’ sales force, individuals involved in insurance entities’ compliance, risk, commercial and product management functions.
Ms Josianne Briffa
Trainer bio and experience
Josianne Briffa has over 15 years of experience in financial services, specialising primarily in the area of financial regulation. She started her career within the Financial Services Advisory Team of a leading audit firm, after which she joined an international group where she led the Compliance and Internals Controls unit for the group’s insurance entities in Malta. In 2013, Josianne joined MAPFRE Malta and she holds the role of Group Chief Compliance Officer.
Josianne is a Certified Public Accountant and holds a Master of Arts in Financial Services with distinction from the University of Malta. She was the first Chairperson of the Regulatory Affairs Sector of the Malta Insurance Association and is a member of the Malta Association of Compliance Officers.