The Malta Financial Services Authority (MFSA) has today published a strategic statement, outlining the objectives that will guide its mission and contribute towards securing Malta’s future as a resilient and efficient financial services jurisdiction. This statement sets out the Authority’s long-term objectives and more immediate strategic priorities in...
The financial services sector grew by 2.3% year on year in terms of direct Gross Value Added (GVA) reaching a total of €657m, the Malta Financial Services said in its annual report. The sector generated 430 new jobs last year, reaching a total of 12,230. This...
The financial regulator aims to become financially independent A €24.7 million government grant was needed last year to keep the Malta Financial Services Authority (MFSA) in the black, according to the authority’s annual report. The financial regulator aims to become financially independent from the government by 2024...
Of 105 cases opened last year, 25 related to money laundering A new specialised team of international experts has been set up by the financial regulator to combat money laundering, handling 25 new cases last year. In the Malta Financial Services Authority's 2019 annual report, chief executive Joseph...
The International Monetary Fund (IMF) and European supervisory institutions have, over recent years, recommended that Malta sharpens its supervisory tools, integrates its efforts and intensifies its regulatory oversight of the growing number of financial institutions in Malta. The IMF’s Malta Mission Report published last week recognises...
This Circular is addressed to all authorised persons and entities, applicants and prospective applicants. Incoming Documentation As part of its contingency planning for COVID-19, the Malta Financial Services Authority (MFSA) would hereby like to notify all persons and entities that are licenced, registered, enrolled, recognised or authorised in any...
Following the Press Release issued on 14 February, announcing a number of organisational changes and senior leadership team appointments, including the overhaul of the Authorisation function, the MFSA is currently in the process of merging sectoral authorisations into their respective supervisory functions. This will ensure consistency in the...
As outlined in previous communications, the MFSA expects regulated firms to take all reasonable measures in order to have appropriate contingency plans in place to be able to deal with any eventuality relating to the outbreak of COVID-19. Read full circular in resources below. [gview file="https://ifsp.org.mt/wp-content/uploads/2020/03/2020.03.21-Circular-Timing-of-regulatory-reporting-due-to-the-outbreak-of-COVID-19-2.pdf"]...
The MFSA would like to draw the attention of its licence holders and the general public to possible fraudulent schemes or financial scams which may try to take advantage of COVID-19 outbreak to target entities and individuals with the aim of misappropriating funds and/or obtaining...
Following the restructuring which took place early last year, the MFSA has been actively engaged in strengthening its organisational capacity by creating new operational and supervisory functions which include risk management, supervisory ICT and cybersecurity risk, financial crime compliance, data management & business intelligence, FinTech,...