Sarah Pulis

The Malta Financial Services Authority (MFSA) recently concluded a series of workshops targeted at insurance companies, intermediaries, and investment services to unfold “the transformative potential” of the EU Retail Investment Strategy Package.

Led by Sarah Pulis, MFSA’s Head of Conduct Supervision, the workshops covered a range of topics including disclosures, inducement, sustainability assessment, value for money, marketing and communications practices, and more.

This package, adopted by the European Commission on 24th May 2023, aims to make the EU a safer place for citizens to invest in the long term by enhancing the transformation provided to retail investors through disclosure rules, increasing cost transparency by standardising the presentation and terminology on costs, and ensuring that retail clients have a clear annual view of their portfolio’s performance.

Christopher Buttigieg – Chief Officer Supervision, MFSA

It also aims to address potential conflicts of interest, combat misleading marketing, and maintaining high standards of professional qualifications for financial advisors. The EU package is also intended to encourage financial literacy, reduce administrative burdens for professional investors, and enhance supervisory cooperation.

Dr Pulis commented that the package will bring “significant changes” to the rules for many financial products and services offered to retail customers. “While some proposals spark intense debate, the ultimate goal of bolstering consumer confidence in financial markets and encouraging retail investor participation remains the desirable outcome,” she added.

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Sarah Pulis – Head, Conduct Supervision, MFSA

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