Mar
27

COVID-19: MFSA Issues Guidance to Consumers

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In light of the COVID-19 pandemic, the Malta Financial Services Authority (MFSA) has issued guidance to consumers in order to safeguard their interests. Banking In view of the social distancing guidelines issued by the Maltese Health Authorities, the MFSA has encouraged customers to make use of internet and mobile banking services, whilst also keeping in mind the security measures that should be taken when using such services. Investments Considering the fast rate at which the current situation is developing, the MFSA urged consumers who are considering either inv...
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2505 Hits
Mar
27

MFSA Publishes Updates on the Submission of Documentation

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As part of its COVID-19 contingency and business continuity panning, the Malta Financial Services Authority (MFSA) has published a circular announcing that, with immediate effect and until otherwise communicated, all documentation submitted to the MFSA should be sent electronically. In this respect, the MFSA has informed all authorized persons and entities, applicants and prospective applicants that any authorization and supervisory correspondence should be submitted to the MFSA by means of an email or through the relevant MFSA online portals. Nevertheless, the MF...
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2920 Hits
Mar
27

MFSA Extends Regulatory Reporting Deadlines for Investment Firms, Funds and Managers

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In light of the current pandemic in which we find ourselves, the MFSA has announced that it will be extending the deadlines for submission of regulatory reporting for investment firms, investment funds and fund managers which fall due by March or April 2020. However, with regard to those submissions which fall due by May or June 2020, the MFSA is reluctant to grant extensions for the time-being. 1.  Investment Firms Category 1-4 (excluding credit institutions) - Annual Report, Audited Financial Statements, COREP Return, and Management Letter, Circularisation ...
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2494 Hits
Mar
23

Office for Consumer Affairs Accepting Online Complaint Forms

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The Office for Consumer Affairs is now accepting online complaint forms. Consumers that wish to file a complaint against any undertaking for the breach of their rights under consumer law may do so by submitting the complaint form, either in English or in Maltese, provided on the MCCAA's website. This relieves consumers from having to physically submit complaint forms at the Office for Consumer Affairs, particularly in the wake of the recent COVID-19 outbreak. Anyone wanting to make use of the online consumers' complaint form can do so by following the link provide...
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1961 Hits
Mar
23

ESMA Publishes Notice Recommending Particular Action by Financial Market Participants for COVID-19 Impact

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In light of the COVID-19 pandemic, the European Securities and Markets Authority (" ESMA ") issued a notice on 13 th March 2020, urging financial market participants to take the necessary measures and precautions to deal with the evolving situation and to be able to cater for any eventuality. ESMA together with National Competent Authorities (" NCAs "), including the Malta Financial Services Authority (" MFSA "), have been closely monitoring the impact which this pandemic has had on the financial markets within the European Union (" EU "). The recommendations put ...
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  2590 Hits
2590 Hits