Article 16(8) of the MFSA Act provides that any administrative or disciplinary sanction or measure, of whatever type, including reprimands or warnings, imposed or decided by the Authority under any law for whose administration it is responsible, shall be published in such medium and in such manner and for such duration as may be deemed warranted by the circumstances and the nature and seriousness of the breach or wrongdoing.
The Protection of the Whistleblower Act (CAP. 527) aims to provide a framework for the protection of persons who expose improper practices such as misconduct and, or dishonest or illegal activity in an organisation. These persons are considered as “Whistleblowers”.
Whistleblowing is therefore the disclosure by a person of information regarding improper practices in an organisation.
The Enforcement function is the Whistleblowing Reporting function of the MFSA responsible for receiving and investigating external whistleblower reports falling within the remit of the MFSA in terms of the Protection of the Whistleblower Act.
The MFSA warns the general public with regards to unlicensed or unauthorised entities and individuals, as well as fraudulent or dubious schemes claiming to be operating from the Maltese jurisdiction, while also bringing to the attention of the public similar warnings issued by European counterparties.
The MFSA encourages people to report to it potential or actual breaches, committed by entities or individuals licenced or authorised by the Authority, or else unlicensed entities or unauthorised individuals who are suspected of undertaking licensable activities without prior authorisation from the MFSA. Consumers may report any breaches at https://www.mfsa.mt/about-us/contact/.