Memoranda of Understanding
The MFSA has signed a number of bilateral Memoranda of Understanding (MOU) with international regulators of financial services and is also a signatory to specialised multilateral MoUs through organisations such as the International Organization of Securities Commissions (‘IOSCO’) and the European Securities and Markets Authority (‘ESMA’).
The aim of concluding these bilateral and multilateral Memoranda of Understanding is to facilitate the exchange of information and to create a formal framework for regulatory collaboration and co-operation between various regulatory authorities. The Memoranda of Understanding provide for clearer channels for co-operation including increased mutual co-operation, the exchange of regulatory and technical information as well as investigative assistance between the signatory financial services regulators.
As well as concluding Memoranda of Understanding with foreign regulators the MFSA has also concluded agreements with a number of domestic regulators with whom the MFSA cooperates in order to achieve its public policy goals.
To date the MFSA has concluded the following Memoranda of Understanding:-
Bilateral MoUs with Foreign Regulators
| Country | Entity | Entity's Responsibilities | Date of Signature | DateOrder | Scope of Agreement | Document |
|---|---|---|---|---|---|---|
| United Kingdom | Financial Conduct Authority | Banking, Insurance, Investment Services | 01/02/2019 | 20190201 | Securities | |
| Vatican City | Financial Information Authority | 09/05/2017 | 20170509 | |||
| United Arab Emirates | Abu Dhabi Global Market Financials Services Regulatory Authority | Banking, Securities and Insurance | 02/02/2017 | 20170202 | Banking, Securities and Insurance | Media Statement |
| Vietnam | National Financial Supervisory Commission of Vietnam | Banking, Securities and Insurance | 05/11/2014 | 20141105 | Banking, Securities and Insurance | Media Statement |
| Ukraine | National Securities and Stock Market Commission | Securities and Markets | 04/06/2014 | 20140604 | Securities and Markets | |
| Qatar | Qatar Financial Centre Regulatory Authority | Banking, Financial and Insurance-related business | 13/03/2012 | 20120313 | Banking, Financial and Insurance-related business | Media Statement |
| Slovakia | National Bank of Slovakia | Banking, Insurance and Securities | 01/12/2011 | 20111201 | Banking, Insurance and Securities | Media Statement |
| United States | Nebraska Department of Insurance | Insurance | 23/11/2011 | 20111123 | Insurance | |
| Australia | Australian Prudential Regulation Authority | Banking, Insurance, Pensions | 14/06/2010 | 20100614 | Banking and Insurance | Media Statement |
| China | China Banking Regulatory Commission | Central Bank | 02/02/2010 | 20100202 | Banking | Media Statement |
| China | China Securities Regulatory Commission | Securities | 26/01/2010 | 20100126 | Securities | Media Statement |
| South Africa | Financial Services Board | Securities, Insurance and Pension Funds | 26/11/2009 | 20091126 | Securities, Insurance and Pension Funds | Media Statement |
| Portugal | Banco de Portugal | Credit Institutions | 30/10/2009 | 20091030 | Credit institutions | Media Statement |
| Cayman Islands | Cayman Islands Monetary Authority | Credit Institutions, Insurance, Securities and Trusts | 18/02/2009 | 20090218 | Credit Institutions, Insurance, Securities and Trusts | Media Statement |
| United Arab Emirates | Dubai Financial Services Authority | Securities, Credit Institutions, Insurance and Trusts | 07/07/2008 | 20080707 | Securities, Credit Institutions, Insurance and Trusts | Media Statement |
| Bermuda | Bermuda Monetary Authority | Credit Institutions, Insurance, Securities and Trusts | 03/06/2008 | 20080603 | Insurance, Credit Institutions and Trusts | Media Statement |
| Cyprus | Central Bank of Cyprus | Credit Institutions | 29/05/2008 | 20080529 | Credit institutions | Media Statement |
| Austria | Financial Market Authority | Banking, Insurance, Pension Funds and Securities | 02/04/2007 | 20070402 | Credit institutions | Media Statement |
| Netherlands | De Nederlandsche Bank N.V. (DNB) | Banking, Insurance, Pension Funds and Securities | 23/10/2006 | 20061023 | Banking | Media Statement |
| Belgium | Banking, Finance and Insurance Commission | Banking, Securities and Insurance | 23/10/2006 | 20061023 | BankBanking, Securities and Insurance (Primarily Banking)ing | Media Statement |
| Jersey | Jersey Financial Services Commission | Banking, Securities and Insurance | 21/11/2005 | 20051121 | Mutual assistance and exchange of information | Media Statement |
| Isle of Man | Insurance and Pensions Authority | Insurance and Pensions | 27/06/2005 | 20050627 | Mutual assistance and exchange of information | Media Statement |
| Isle of Man | Financial Services Commission | Banking, Investment Services and Corporate Services Providers | 16/11/2004 | 20041116 | Securities and Banking | Media Statement |
| Germany | Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) | Banking, Securities and Insurance | 12/09/2004 | 20040912 | Banking, Securities and Insurance (Primarily Banking) | Media Statement |
| Gibraltar | Financial Services Commission | Banking, Securities and Insurance | 30/06/2004 | 20040630 | Banking, Securities and Insurance. | Media Statement |
| United Kingdom | Financial Conduct Authority | Banking, Insurance, Investment Services | 23/04/2004 | 20040423 | Banking, Insurance, Investment Services | Media Statement |
| Portugal | Commissão de Mercado de Valores Mobiliários | Securities | 23/03/2004 | 20040323 | Securities | Media Statement |
| Mauritius | Financial Services Commission | Securities, Insurance and Pensions | 21/01/2004 | 20040121 | Securities, Insurance and Pensions | Media Statement |
| Guernsey | Guernsey Financial Services Commission | Banking, Investment Services, Insurance and Fiduciary Services | 17/01/2004 | 20040117 | Banking, Investment Services, Insurance and Fiduciary Services | Media Statement |
| Slovakia | National Bank of Slovakia | Banking | 12/02/2004 | 20040212 | Banking | Media Statement |
| Turkey | Banking Regulation and Supervision Agency | Banking | 10/12/2004 | 20041210 | Banking | Media Statement |
| Turkey | Capital Markets Board of Turkey (Semaye Piyasasi Kurulu) | Securities | 04/04/2002 | 20020404 | Securities | Media Statement |
Bilateral MoUs with Local Authorities
| Country | Entity | Entity's Responsibilities | Date of Signature | DateOrder | Scope of Agreement | Document | Website |
|---|---|---|---|---|---|---|---|
| Malta | Commissioner for Voluntary Organisations | The Commissioner for Voluntary Organisations is tasked, inter alia, with monitoring the activities of voluntary organisations in order to ensure observance of the provisions of the Voluntary Organisations Act | 30/09/2020 | 20200930 | To establish a framework for co-operation, mutual assistance and exchange of information between the two entities, for the purpose of assisting each other in the discharge of their own respective functions | ||
| Malta | Accountancy Board | The Accountancy Board is established under the Accountancy Profession Act and regulates the accountancy profession in Malta | 27/04/2020 | 20200427 | To establish a framework for co-operation, mutual assistance and exchange of information between the two entities | Media Statement | |
| Malta | Central Bank of Malta | Country Central Bank | 24/04/2020 | 20200424 | Financial Market Infrastructures | ||
| Malta | MBR | To safeguard against the use of commercial partnerships, trusts and financial services entities for criminal and illegal purposes | 06/04/2020 | 20200406 | To establish a framework for co-operation, mutual assistance and exchange of information between the two entities | Media Statement | |
| Malta | Financial Intelligence Analysis Unit (FIAU) | Preventing, detecting and combating money laundering and funding of terrorism | 20/08/2018 | 20180820 | Cooperation in the field of Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) | ||
| Malta | MGA, Sanctions Monitoring Board, FIAU, MFSA | Safeguarding the Maltese financial, gaming and other sectors from being misused for criminal purposes, including terrorism, funding of terrorism, and the financing of proliferation of weapons of mass destruction | 31/05/2018 | 20180531 | Formulise their cooperation and exchange of information, and the allocation of responsibilities in ensuring compliance by subject persons with their relevant obligations under the PMLA and NIA | MoU | |
| Malta | Financial Intelligence Analysis Unit (FIAU) | Combating money laundering and the financing of terrorism | 18/03/2014 | 20140318 | Cooperation, rendering of mutual assistance and exchange of information in the field of AML/CFT compliance supervision | Media Statement | |
| Malta | Central Bank of Malta | Country Central Bank | 25/01/2013 | 20130125 | Joint Financial Stability Board | MoU | Website |
| Malta | Central Bank of Malta | Country Central Bank | 25/01/2013 (Amended on 16/02/2021) | 20130125 | Exchange of Information in the fields of financial services | MoU MoU | Website |
| Malta | Office For Fair Competition | Competition | 02/06/2008 | 20080602 | Mutual assistance and exchange of information | Media Statement |
Multilateral MoUs and Protocols
| Country | Entity | Entity's Responsibilities | Date of Signature | DateOrder | Scope of Agreement | Document | Website |
|---|---|---|---|---|---|---|---|
| International and Malta | The Institute of Directors (IoD UK) and the Institute of Directors Malta Branch (IoD Malta) | A business organisation for company directors, senior business leaders and entrepreneurs (IoD Malta). The IoD (UK) is a community of UK business leaders whose membership allows them professional training opportunities and access to business information designed to help and strengthen the members’ success. | 16/05/2019 | 20190516 | For the setting up of a joint initiative between IoD Malta and the MFSA for the scope of improving Board education and standards | N/A | N/A |
| International | IOSCO | Multilateral MoU | 01/11/2019 | 20191101 | Administrative arrangement for the transfer of personal data with non-EEA Authorities | MMoU | N/A |
| International | CESR (replaced by ESMA) | Multilateral MoU signed | 01/05/2004 | 20040501 | Securities | MoU | Website |
| International | CEIOPS (replaced by EIOPA) | Protocol in force | 01/05/2004 | 20040501 | Insurance | Protocol | N/A |
| CEIOPS (replaced by EIOPA) | Protocol in force | 28/04/2006 | 20060428 | Insurance | Protocol | N/A | |
| CEIOPS (replaced by EIOPA) | Multilateral MoU signed | 11/04/2006 | 20060411 | Insurance and occupational pensions | MoU | N/A | |
| CEIOPS (replaced by EIOPA) | Protocol in force | 02/03/2006 | 20060302 | Occupational pensions | Protocol | N/A | |
| International | IOSCO | Multilateral MoU signed | 28/02/2006 | 20060228 | Securities | MoU | Website |
| International | Financial Supervisory Authorities, Central Banks and Finance Ministries of the EU | Multilateral MoU signed | 01/06/2008 | 20080601 | Cross-Border financial stability | Media Statement | N.A |
| International | CEIOPS (replaced by EIOPA) | Protocol in force | 31/03/2008 | 20080331 | Insurance | Protocol | N/A |
| Malta | Ministry of Finance, the Economy and Investment and Central Bank of Malta | Ministry responsible for Finance and Country Central Bank | 03/11/2009 | 20091103 | Co-operation in the management of financial crisis situations | N/A | N/A |
| International | International Association of Insurance Supervisors (IAIS) | Multilateral MoU signed | 26/10/2010 | 20101026 | Exchange of information in insurance regulatory and supervisory matters | Media Statement | N/A |
Agreements by means of Letters with Foreign Regulators
| Country | Entity | Entity's Responsibilities | Date of Signature | DateOrder | Scope of Agreement | Document | Website |
|---|---|---|---|---|---|---|---|
| Switzerland | Swiss Financial Market Supervisory Authority (FINMA) [previously the Swiss Federal Banking Commission (SFBC)] | Banking, Securities and Insurance | 19/10/2004 | 20041019 | Banking and Securities | Media Statement | Website |
| Italy | Commissione Nazionale per le Societa’ e la Borsa (CONSOB) | Securities | 25/01/2013 | 20130125 | Securities | Media Statement | Website |
