The Financial Institutions’ authorisation and supervision teams, which were within the remit of the Banking Supervision function until end February 2023, are now integrated into FinTech Supervision with effect from 1 March, headed by Herman Ciappara.
The Financial Institutions sector is a crucial part of Malta's economy and plays an important role in the global financial ecosystem. As the sector increasingly adopts more innovative technologies, this strategic decision will ensure that the MFSA is better equipped to provide a comprehensive and robust oversight. The integration of these teams will also help the MFSA to maximise synergies that exist across the sectors and better understand the opportunities and potential risks posed by new technologies being used in financial services.
The reorganisation comes as part of the MFSA's ongoing efforts to ensure regulatory and supervisory efficiency and effectiveness.