The membership of the Institute of Financial Services Practitioners ranges across the entire spectrum of the financial services industry: from bankers to insurers to stockbrokers to lawyers, accountants and trustees. The Institute provides a forum for the continuous exchange of ideas and even increased co-operation between various professions. In effect, the Institute represents a distinct and separate professional person - the financial services practitioner. The IFSP has obtained recognition as the body representing financial services practitioners in Malta. In this capacity, the Institute of Financial Services Practitioners keeps itself fully up to date of developments in financial services regulation, and is regularly consulted by the competent authorities on important issues. The Institute keeps in close contact with the regulatory authorities, and in particular with the MFSA and the Ministry of Finance. Through the IFSP, practitioners are able to communicate their suggestions, concerns and at times frustrations in a cohesive manner to the regulatory authorities and to the Government.