Legislation


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.

Anti-Money Laundering

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).

Financial Institutions

This includes a list of main legislation, subsidiary legislations and related legislations in relation to Financial Institutions.

Credit Institutions

The CRR and the CRDIV, which together constitute the CRD IV Package were published in the Official Journal (OJ) of the European Union on 27 June 2013. The CRD IV Package sets out the legal framework for the prudential regulation and supervision of credit institutions.

Company Law

A list of legal documents pertaining to the legislation under which the formation, registration or incorporation, governance, and dissolution of a firm is administered and controlled.

Company Service Providers

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.

Insurers

The insurance industry in Malta is regulated by two separate legislations; one which provides for the authorisation and supervision of insurance companies.

Intermediaries

The other legislation by which the insurance industry in Malta is regulated is the one which governs insurance agents, brokers and intermediaries.

Malta Financial Services Authority

The MFSA is a public authority set up by special Act of Parliament, establishing it as the single regulator for financial services in Malta.

Pensions

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.

Investment Services

This includes a list of main legislation, subsidiary legislations and related legislations in relation to Investment Services.

Collective Investment Schemes

This includes a list of main legislation, subsidiary legislations and related legislations in relation to Collective Investment Schemes.

Prevention of Market Abuse

This includes a list of main legislation, subsidiary legislations and related legislations in relation to Prevention of Market Abuse.

Financial Markets

A list of legal documents pertaining to the legislation of Financial Markets.

Securitisation

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.

Taxation

The Malta tax system and its extensive double tax treaty network means that, with proper planning and structuring, investors can achieve considerable fiscal efficiency using Malta as a base.

Trustees and other Fiduciaries

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.