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Transparence on sanctions

The Malta Financial Services Authority (MFSA) is the single regulator for financial services activities in Malta. It regulates and supervises credit and financial institutions, investment, trust and insurance business and also houses the country's Companies Registry.
Since January 2, 2004, the MFSA informs the public of all breaches of financial services licence conditions which have given rise to the imposition of a fine or any other administrative measure, giving the name of the licence holder and the sanction imposed by the Authority. The publication of this information takes place only after the exhaustion of all possible appeals at law from the decision of the Authority.
There are not many cases and the amount of fines is not dissuasive enough (Lm 100 up to to Lm 1000 i.e. EUR 233 up to EUR 2330).

See website

15:04 Posted in Malta | Permalink | Comments (0)

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