ARTICLE
2 October 2019

MFSA Publishes Consultation Document On The Provision Of Independent Compliance Audits

WP
WH Partners

Contributor

We are a law firm with a strong focus on assisting businesses fuelling the digital economy and not only in the territories we operate in. We have offices in Malta, Italy, Romania, and we operate Czech, Polish and UAE desks, as well as having a worldwide network of correspondent firms. We have a well-established practice advising clients on (in no particular order) fintech, gaming & gambling, corporate, M&A, tax, dispute resolution, corporate finance, intellectual property, data privacy and personal data processing, consumer protection & advertising, real estate, employment & immigration matters, sports, technology & media, competition & state aid. Our firm and several of our lawyers are highly ranked by Chambers & Partners, Legal 500, IFLR1000 and Who’s Who Legal.
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 ...
Malta Finance and Banking

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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