Malta:
MFSA Publishes Consultation Document On The Provision Of Independent Compliance Audits
02 October 2019
WH Partners
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On the 22 July 2019, the MFSA issued a Consultation Document on
the provision of Independent Compliance Audits, which seeks to
strengthen the MFSA's supervisory engagement, maintaining
Malta's reputation as a jurisdiction of choice when it comes to
the financial services sector, whilst also safeguarding consumer
interests.
This Consultation Document proposes how MFSA intends to
introduce a new supervisory tool, which will allow the Authority to
appoint, or to require licensees or other persons to appoint,
qualified persons to undertake independent compliance audits in
relation to the firm's activities.
The Consultation Document can be accessed
here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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