https://www.um.edu.mt/library/oar/handle/123456789/17622 Wed, 15 Apr 2026 22:18:44 GMT 2026-04-15T22:18:44Z https://www.um.edu.mt/library/oar/handle/123456789/145527 Title: The supervisory review and evaluation process : some observations Abstract: Supervisory transparency has become a defining feature in today's prudential oversight. The Supervisory Review and Evaluation Process (SREP) - in application of Directive 2013/36/EU as amended by Directive 2019/878/EU - provides the core mechanism through which competent authorities assess the adequacy of licensed credit institutions' business models and profitability, internal governance and risk management, and controls related to risks to capital, liquidity and funding. In Malta, this mandate falls within the responsibility of the Malta Financial Services Authority (MFSA), whereby SREP is performed to evaluate whether institutions' internal risk frameworks are commensurate with the nature, scale and complexity of their business activities. SREP is not only a compliance exercise, but also a platform of dialogue that enables institutions to better understand their inherent and residual risk, as they navigate through the fast-changing global and regulatory landscape. Thu, 01 Jan 2026 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/145527 2026-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/145475 Title: The fragility of independent financial supervision Abstract: The institutional landscape of financial regulation in the United States (US) and the European Union (EU) is currently undergoing a divergent transformation, where the traditional paradigm of independence of financial supervision is being redefined by distinct political and constitutional pressures. While both the US and the EU once shared a normative commitment to the arm’s length model of technocratic governance, their current trajectories reveal a fundamental rift. The central argument of this article is that while the EU’s adoption of constitutional and quasi-constitutional safeguards fosters stable and predictable supervisory outcomes, the US model’s increasing responsiveness to political shifts, though arguably more democratic, inherently risks supervisory volatility. In the EU context, independence has evolved into a functional, supranational solution to the problem of governing a fragmented financial system. Conversely, in the US, this independence has devolved into a constitutional battleground over the legitimacy of administrative power and democratic control. [excerpt] Sun, 01 Mar 2026 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/145475 2026-03-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/145191 Title: The money laundering reporting officer : some reflections from Malta Authors: Buttigieg, Christopher P.; Micallef, Eric Abstract: The role of the Money Laundering Reporting Officer (MLRO) has become increasingly complex and critical in the face of evolving regulatory frameworks and rapid technological advancements. This paper examines the expanding responsibilities of MLROs, particularly within the context of the European Union's new AML supervisory framework and the proliferation of financial technology. It explores the multifaceted challenges faced by MLROs, including the need for technical expertise, regulatory compliance, and proactive risk management in an era of heightened personal liability. The paper also highlights the transformative potential of artificial intelligence (AI) and data-driven solutions in enhancing AML/CFT processes, while emphasising the irreplaceable role of human judgment in addressing emerging risks. Furthermore, it underscores the ethical and legal considerations associated with the adoption of advanced technologies, particularly in relation to data privacy and civil liberties. Ultimately, this paper argues that the successful navigation of these dynamic challenges by AML/CFT professionals is essential to maintaining the integrity and resilience of the global financial system in an increasingly complex and high-stakes environment. Thu, 01 Jan 2026 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/145191 2026-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/144513 Title: The overlooked science of understanding the world : demography Abstract: Can demography explain China’s economic growth? Can it shed light on the challenges faced by African nations? Why do Canada and Luxembourg actively promote immigration? In 2023, Canada reached a historic population milestone of 40 million for the first time. Wed, 01 Jan 2025 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/144513 2025-01-01T00:00:00Z