Continuous Professional Development: Online training programme This training programme considers the requirements emanating from Chapter 7: Continuous Professional Development (the “Chapter”) whereby a relevant person and a relevant employee, as defined in the Chapter, are required to undertake a minimum of 15 hours of continuous professional development (“CPD”) training in each calendar year, which can take the form of structured CPD training or unstructured CPD training. As a minimum, such CPD training shall include 12 hours of structured CPD training. The training programme includes 15 sessions covering a number of topics as indicated in Sections 6.8 to 6.10 of Chapter 6 in Part B of the Insurance Distribution Rules and which qualify as structured CPD training. A defined number of hours are allocated to each session and a written assessment shall be carried out after each session in order to provide a certificate of attendance that may be used for CPD purposes indicating the number of hours of the session and the topic/s and areas covered. The training programme offers attendees the possibility to select the sessions required. 1. Duration, delivery and fees - Duration – up to 2 hours per session - Delivery – GoToWebinar - Fees - €75 (+ VAT) per participant per session subject to a minimum of 4 sessions per participant Groups of participants of 8 persons or more from the same entity would benefit from a discounted rate of €65 (+ VAT) per participant per session subject to a minimum of 4 sessions per participant. 2. Certification - A certificate of attendance will be issued to all participants. - CPD Training will be followed by a written assessment. Legal aspects and regulatory developmentsSession 1 – An overview of the European and Maltese regulatory framework – Insurance intermediaries Tuesday 27th June 2023 – 3pm Duration: 1.5 hours General overview of the legal framework and key licensing requirements of: Insurance agents, insurance brokers and insurance managers Tied insurance intermediaries and ancillary insurance intermediaries Presenter: Beppe Sammut, Legal Counsel Session 2 - The Insurance Distribution Rules Tuesday 4th July 2023 – 3pm Duration: 2 hours A detailed review of Part A and Part B of the Insurance Distribution Rules Presenter: Romina Bonnici, Senior Regulatory Advisor Session 3 - Related legislation Tuesday 11th July 2023 – 3pm Duration: 1.5 hours General overview of the: Protection and Compensation Fund Regulations (S.L. 403.13); Distance Selling (Retail Financial Services) Regulations (S.L. 330.07); Duty on Documents and Transfers Act (Cap. 364) Function of the Office of the Arbiter for Financial Services Presenters: Nadia Cassar, Senior Associate Nico Fauser, Advocate Session 4 - Product distribution arrangements (for distributors) Tuesday 18th July 2023 – 3pm Duration: 1 hour Objectives of product distribution arrangements Distribution strategy Obtaining all the necessary information from the manufacturer Providing sale information to the manufacturer Presenter: Romina Bonnici, Senior Regulatory Advisor Session 5 - Product oversight and governance arrangements (for manufacturers) Tuesday 25th July 2023 – 3pm Duration: 1 hour Objectives of product oversight and governance arrangements Target market Product design and testing Product distribution Product monitoring Presenter: Philippa Taylor East, Regulatory Advisor Session 6 - Financial crime including sanction screening Tuesday 1st August – 3pm Duration: 1.5 hours Anti-money laundering legislation and guidance Sanction screening Presenter: Elaine Magri, Associate Session 7 - Passporting Tuesday 29th August 2023 – 3pm Duration: 1 hour General overview of the: Passporting rules and regulations Passporting application process Presenter: Romina Bonnici, Senior Regulatory Advisor Session 8 - ESG Tuesday 5th September 2023 – 3pm Duration: 1 hour Integration of sustainability within the governance of insurance undertakings Sustainability-related disclosures under the SFDR Presenter: Luke Hili, Associate Session 9 - Digital Operational Resilience Act (DORA) Tuesday 12th September 2023 – 3pm Duration: 1.5 hours Application, subject-matter and scope Important definitions Governance – Responsibilities of the Board of Directors ICT risk management, ICT-related incident management, classification and reporting Digital operational resilience testing ICT-third party risk Competent authorities Presenter: Beppe Sammut, Legal Counsel The insurance sector: The insurance market, market participants and productsSession 10 - The insurance sector – Basic concepts and the main actors Tuesday 19th September 2023 – 3pm Duration: 1 hour General principles of insurance The insurance market – licence holders’ duties and responsibilities Presenters: Philippa Taylor East, Regulatory Advisor Tina Mifsud, Advocate Ethics and professional conductSession 11: Corporate Governance Tuesday 26th September 2023 – 3pm Duration: 1 hour The MFSA code on corporate governance The three-lines model Presenter: Stephanie Cassar, Associate Assessing the client needsSession 12: Demands and needs assessment Tuesday 3rd October 2023 – 3pm Duration: 1 hour Format Statement Signature Online sales Renewals Monitoring Presenter: Romina Bonnici, Senior Regulatory Advisor Information disclosureSession 13: The sales process – General business insurance Tuesday 10th October 2023 – 3pm Duration: 1 hour Medium of disclosure Disclosures of Information on Regulated Person Disclosures on the Services and Products provided by the Regulated Person Disclosures on Conflicts of Interest Complaints handling Presenter: Elaine Magri, Associate Session 14: The sales process – Life business focusing on Insurance Based Investment Products (IBIPs) Tuesday 17th October 2023 – 3pm Duration: 1.5 hours Key characteristics, risks and features, costs and charges Suitability and appropriateness testing Sustainability preferences Presenter: Elaine Magri, Associate Financial competencySession 15: Financial competency (for insurance intermediaries only) Tuesday 24th October 2023 – 3pm Duration: 1 hour Issuance of receipts Monies held in a fiduciary capacity Terms of payment Reconciliations Accounting Records Presenter: Romina Bonnici, Senior Regulatory Advisor Register here