Dr David Fabri, a senior lecturer with the Faculty of Laws recently presented a copy of his newly published book, “Studies in Maltese Regulation – Financial Services Law”. The book, which deals with the various issues and problems resulting from the regulation of the financial services sector is not intended as a text book but contains critical analysis, history and personal experiences.
The author was well-placed to write on this important sector as he could draw on his 30 years of regulatory experiences, starting in 1992. Describing himself as an occasional insider and an interested observer, Dr Fabri explains how and why certain important laws came into being and highlights the various challenges that regulators have faced and still face.
The publication investigates in detail what makes a good regulator and offers unadulterated views on bad regulators, giving examples of each from local and overseas experiences, some well-known and others less known.
One chapter analyses how Malta's single regulatory authority, the MFSA, gradually evolved from its unlikely beginnings as a small offshore authority which the author joined in 1992, actively participating in the significant legal and structural reforms between 1992 and 2015. He unearths new background to these developments and shares intriguing anecdotes. Other chapters deal with rogue banks, institutional capture, regulatory mishaps, international aspects, market abuse, consumer protection and the financial arbiter, as well as the recent grey-listing and Pilatus enquiry.
The book is updated to the end of August 2022 and has been published by MIDSEA books. This publication will shortly be followed by two others, already in state of completion, which shall deal with the law of companies (including co-operatives) and consumer protection.
Dr Fabri has taught these subjects at the University of Malta since 1995 at undergraduate and post-graduate levels, and has written and published extensively about them. He was co-responsible for the launching of the Masters of Arts in Financial Services in 1996 which has been offered annually without fail since that year and which he co-ordinates to this day.