MFSA

Established in 2002, this government agency assumed control over Malta’s financial sector, a responsibility previously shared among the Central Bank of Malta, the Malta Stock Exchange, and the Malta Financial Services Centre.

The MFSA is accountable to the Maltese Parliament, maintains close ties with relevant European Union bodies, and is a member of international organisations such as the EBA, EIOPA, and IOSCO among others.

The MFSA’s core responsibilities include consumer protection, global financial coherence, economic stability, and supervising all financial services transactions. The Authority also advises the government on financial services policy.

The MFSA is proactive and forward-looking, giving timely attention to the most relevant and innovative areas, and striving to build a robust and dynamic financial sector in Malta. For instance, it was one of the first institutions in Europe to propose a regulatory framework for digital asset companies in 2017.

MFSA’s functions

The Malta Financial Services Authority performs the following functions:

• inspecting companies applying for a public financial licence in Malta and assessing their compliance with the established requirements;
• deciding whether to grant a licence;
• assisting in the protection of clients’ interests in licensed companies;
• keeping financial market participants informed of industry developments and legislative changes;
• maintaining competitive balance in the financial services market and ensuring price transparency;
• monitoring the activities of reporting companies to ensure compliance with legislative norms and regulations;
• participating in the fight against money laundering and the financing of terrorism (for more details on anti-money laundering (AML), please see our article);
• maintaining a register of reporting companies and a list of unreliable organisations.