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MFSA Issues Notification about Interim Supervisory Measures – 12th March 2020 Banking & FinanceCOVID19 Measures

MFSA Issues Notification about Interim Supervisory Measures – 12th March 2020

In view of the current international recommendations and good practices, the MFSA has notified all authorised firms, recognised and licensed persons that with immediate effect and for an interim period, the MFSA's Supervision Unit will be increasing its use of remote data gathering supervisory tools. This includes increasing and widening the scope of pre-visit documentation requests, issuing questionnaires and conducting Board and Officer interviews via teleconferencing or video link.The MFSA will be continuing with its planned schedule of inspections adopting the aforementioned new procedures and will not postpone inspections unless specific circumstances so require it.The full circular may be accessed…
Nicole Portelli
16th March 2020
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MFSA Issues Guidance on the Charging of Negative Interest Banking & FinanceNews

MFSA Issues Guidance on the Charging of Negative Interest

The MFSA has issued a circular addressed to credit institutions licensed in terms of the Banking Act, 1994, whereby, following consultation with the Central Bank of Malta, it expressly prohibits the imposition of negative interest rates on Euro denominated deposits. This stops any emerging practice that may have been recently witnessed in the local banking sector.Credit institutions who have already entered into agreements entailing such negative interest rates, need to rectify their position within a 3-month transition period. Subject to certain conditions, a maintenance fee may be charged in case of excessively high balances.Click here to access The Circular. Disclaimer This document…
Roberta Peresso
28th September 2018
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MFSA Issues Guidance on the Charging of Negative Interest Banking & FinanceNews

MFSA Issues Guidance on the Charging of Negative Interest

The MFSA has issued a circular addressed to credit institutions licensed in terms of the Banking Act, 1994, whereby, following consultation with the Central Bank of Malta, it expressly prohibits the imposition of negative interest rates on Euro denominated deposits. This stops any emerging practice that may have been recently witnessed in the local banking sector.Credit institutions who have already entered into agreements entailing such negative interest rates, need to rectify their position within a 3-month transition period. Subject to certain conditions, a maintenance fee may be charged in case of excessively high balances.Click here to access The Circular. Disclaimer This document…
Roberta Peresso
28th September 2018
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EU Commission Notices to Stakeholders Banking & Finance

EU Commission Notices to Stakeholders

On the 8 February 2018, the EU Commission issued two Notices to Stakeholders in connection with the withdrawal of the United Kingdom from the EU, titled "Withdrawal of the United Kingdom and EU rules in the Field of Banking and Payment Services" and "Withdrawal of the United Kingdom and EU rules in the field of Post-Trade Financial Services" respectively.This Article provides highlights of the Notices to Stakeholders which commence with the Commission's statement that, unless a ratified withdrawal agreement, establishes another date, all EU primary and secondary law will cease to apply to the United Kingdom from 30 March 2019,…
Roberta Peresso
20th February 2018
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Michael Psaila moderates securitisation panel during the launch of the Institutional Financial Services Market at the Malta Stock Exchange. Banking & Finance

Michael Psaila moderates securitisation panel during the launch of the Institutional Financial Services Market at the Malta Stock Exchange.

Mamo TCV partner Michael Psaila moderated a panel on "Opportunities within the Securitisation Sector" during an event organized by the Malta Stock Exchange on Wednesday 18th October 2017 to launch the Institutional Financial Services Market.The panel discussed matters recent securitization trends at a domestic and international level, Malta's attractive suite of securitization legislation and the effects of the recently STS/CRR legislative package that was successfully negotiated on at an EU level during Malta's Presidency of the Council of the European Union.
Michael Psaila
20th October 2017
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Malta Stock Exchange plc obtains regulatory approval to launch the Institutional Financial Securities Market Banking & FinanceCapital MarketsNews

Malta Stock Exchange plc obtains regulatory approval to launch the Institutional Financial Securities Market

Malta Stock Exchange plc. ("MSE") has obtained regulatory approval to launch the Institutional Financial Securities Market ("IFSM"), a securities market intended for issuers seeking to list securities falling within the scope of the Wholesale Securities Market rules, including but not limited to asset-backed and convertible debt securities, derivatives and insurance-linked notes, having a minimum denomination requirement of €100,000 (or its equivalent in any other currency).The IFSM will be regulated by the Malta Financial Services Authority and market participants will be required to apply to the Listing Authority for the purposes of listing any wholesale securities on the new recognised list…
Michael Psaila
9th October 2017