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The Malta Financial Services Authority (MFSA)  is the single regulator for financial services in Malta. The MFSA is a fully-autonomous public institution, established by law on 23 July 2002, taking over supervisory functions previously carried out by the Central Bank of Malta, the Malta Stock Exchange and the Malta Financial Services Centre. The Authority reports to Parliament on an annual basis.

The financial services sector includes all financial activity including that of credit institutions, financial and electronic money institutions, securities and investment services companies, regulated markets, insurance companies, pension schemes and trustees.

The MFSA is also responsible for the management of the Registry of Companies and has also been appointed as the Listing Authority.

Organisational Structure

The policy and general direction is set out by the Board of Governors, presided by the Chairman, with the assistance of the Legal and International Affairs Unit. The Director of this Unit is also the Secretary to the Board of Governors.

The Board of Governors of the Authority is appointed by the Prime Minister in virtue of article 6 of The Malta Financial Services Authority Act (Cap.330).

The Board of Government is chaired by Prof. Joe V. Bannister B.Sc, M.Sc, D.Phil (Oxon). Its members are Mr. Albert A. Attard, Prof. Josef Bonnici B.A.(Hons.), M.A., Ph.D., Dr. Louise Ellul Cachia Caruana LL.D, M.A (Fin. Serv.), Dr. Anton Felice LL.D, Dr. Cynthia Scerri Debono LL.D, Mr. Frank Xerri de Caro ACIB. Its secretary is Dr. David Fabri LL.D.

The Supervisory Council, headed by the Director General, is exclusively responsible for licensing, supervision and regulation and is composed of the Directors responsible for Authorisation, Banking Supervision, Securities and Markets Supervision, Insurance and Pensions Supervision, and Regulatory Development.

Operations are the responsibility of the Board of Management and Resources composed of the Directors responsible for Communications, Human Resource Development, Information Technology and Administration chaired by the Chief Operations Officer.

The MFSA is also responsible for consumer education and consumer complaints related to financial services products. This function is vested in the Consumer Complaints Manager.

Malta as a financial services jurisdiction

Malta is a financial services jurisdiction which fully complies with international best practice. Over the past years, it has been actively involved with international institutions including the European Union, the OECD and the Commonwealth in modelling and strengthening global regulatory policy. The MFSA is a also a member of the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA).

The Authority is also a member of the International Organisation of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS) and a signatory of the Multilateral Memorandum of Understanding with other members of these Institutions.

Key Functions Key functions include:

References
 * to regulate, monitor and supervise financial services in Malta;
 * to promote the general interests and legitimate expectations of consumers of financial services, and to promote fair competition practices and consumer choice in financial services;
 * to monitor and keep under review trading and business practices relating to the supply of financial services to private and other persons, and to provide relevant information and guidance to the public;
 * to monitor the working and enforcement of laws that directly or indirectly affect consumer of financial services in Malta, and to undertake or commission such study, research or investigation which it may deem necessary in this regard;
 * to advise the Government generally on the formulation of policies in the field of financial services, and to make recommendations to Government on action which in the opinion of the Authority would be expedient in relation to matters falling within the regulatory and supervisory functions of the Authority;
 * to investigate allegations of practices and activities detrimental to consumers of financial services, and generally to keep under review trading practices relating to the provision of financial services and to identify, and take measures to suppress and prevent, any practices which may be unfair, harmful or otherwise detrimental to consumers of financial services;
 * to ensure high standards of conduct and management throughout the financial system;
 * to perform such other functions or duties as may be assigned to it under this Act or any other law.

External links
 * Official website