Debating new laws on the MFSA act – A new autonomous company registry
During the annual IFSP conference titled, ‘Efficiency and Innovation, the way forward for Malta’s Financial Service Industry’, Parliamentary Secretary for Financial Services Silvio Schembri, announced that a separate, standalone registry of companies is going to be created. This motion is still in progress however it will help the Malta Financial Services Authority (MFSA), to focus more on its regulatory roles.
During the conference, Hon Schembri emphasised that there is a need to strengthen the internal management structure of the authority. This will then help to make it more proactive and explore non-traditional segments of the market.
The Parliamentary Secretary stated that “This will primarily be spearheaded by the creation of a new role, that of a CEO”. This idea of a new autonomous registry was brought up through a public consultation a few months back.
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