Manfred Galdes

Joined ARQ Group in September 2016 to lead its growing AML/CFT and financial crime compliance advisory practice. In this role he provides specialist consultancy services, applying his expert knowledge of the subject to assist operators in the financial services and gambling industries in meeting their regulatory obligations. Manfred was appointed Managing Partner in September 2019.

Leads the team within the ARQ Group that is involved in the provision of specialist advisory services to private and public entities in the field of combating money laundering, the financing of terrorism and other financial crime, together with other compliance-related services.

Forms part of the regulatory compliance practice within the firm, focusing primarily on financial crime compliance.

During his tenure as Director of the FIAU, the financial intelligence unit of Malta and the authority responsible for the regulation and supervision of all entities subject to anti-money laundering and counter terrorism financing (AML/CFT) obligations under Maltese law, his primary focus was the upscaling of the country’s capabilities to combat financial crime and the development of an effective and sophisticated risk-based AML/CFT supervisory framework. Besides chairing various domestic committees, Manfred also represented Malta and the FIAU on the European Commission’s AML/CFT Expert Group set up under the EU’s Third AML Directive, the EU’s FIU Platform and the Egmont Group’s Legal Working Group. He served as a member of the Maltese delegation to Council of Europe’s Committee of Experts on the Evaluation of AML/CFT Measures (MONEYVAL) and the delegation to the Conference of the Parties set up for the purpose of assessing adherence to the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism. Other roles and positions held during this period: Secretary to the Board of Governors of the FIAU Representation of the FIAU at the Egmont plenary and Egmont working group meetings Chair of the FIAU’s Compliance Monitoring Committee and overall responsibility for the oversight of the supervision of the financial and DNFBP sectors Chair of the FIAU’s Financial Analysis Committee and overall responsibility for the oversight of the strategic and operational analysis carried out by the FIAU Chair of the Joint Committee on the Prevention of Money Laundering and Financing of Terrorism Involved in the drafting of national AML/CFT legislation and other laws Involved in working party meetings during the course of discussions at EU level on the promulgation of the 4th AML Directive Co-ordinator of Malta’s AML/CFT National Risk Assessment Member of the Board of Malta’s Asset Recovery Bureau

Managed the compliance department of an inter-disciplinary consultancy firm providing inter alia corporate services, trust and fiduciary services and accounting services. Established procedures for the department and set up a regulatory advisory branch within the same department. Also provided in-house legal advice and AML/CFT training to staff in the Malta and London offices of the firm

Provided legal advice to the various supervisory units within the single regulatory authority responsible for the supervision of financial services in Malta, covering the areas of banking, securities, insurance, trustees and fiduciary services Was also extensively involved in the process undertaken to bring Maltese financial services laws in line with the EU acquis communautaire Represented the MFSA on the Sanctions Monitoring Board set up within the Ministry of Foreign Affairs Involved in the drafting of various laws and amendments to both primary and secondary legislation