In this section you will find the Acts of Parliament which lays down the framework of the regulatory regime applicable to financial services entities. These provide for the regulatory structure for the supervision of these entities and include, amongst others, the powers of the Authority to grant, refuse, cancel and suspend licences issued and to impose sanctions on regulated entities in specific circumstances. These would also contain enabling clauses allowing the Minister responsible for the regulation of financial services to issue subsidiary legislation as well as the MFSA, as competent authority, to issue Rules to further supplement the provisions in the main Act. For ease of reference, legislation has been grouped by industry. Each section includes: main legislation and subsidiary legislation.
Money laundering is criminalized primarily by means of the Prevention of Money Laundering Act (Cap. 373) which has adopted an “all crimes” approach. Drug-related money laundering is additionally criminalized through the Dangerous Drugs Ordinance (Cap. 101) and the Medical and Kindred Professions Ordinance (Cap. 31).
Legislation regulating company service providers providing services in Malta, in order to prevent the use of the financial system for the purpose of money laundering and terrorist financing.
The Retirement Pensions Act (‘the Act’) (Chapter 514 of the Laws of Malta) came into force on the 1st January 2015. The new Regulations and Pension Rules also came into force on the 1st January 2015.
Malta has indeed developed into an attractive jurisdiction for international business and investment, through its ever-growing commitment to establishing itself as a financial services hub. The flexibility of the securitisation regime allows for an extensive range of assets, including future receivables, which may be securitised through a Maltese vehicle.
An overview of the law and regulation of Trustees and other Fiduciaries in Malta. Maltese law allows for the regulation of trustees in Malta for both natural and legal persons. The tri-partite relationship between the trustee, settlor and beneficiary is based on a fiduciary relationship.