By means of a notice issued by the Malta Financial Services Authority (“MFSA”) on the 6th April 2020, the MFSA informed the public that, in order for it to provide a formal basis for co-operation between the MFSA and the Malta Business Registry (“MBR”), which was previously known as the Registry of Companies, a Memorandum of Understanding (“MoU”) has been signed between the two independent institutions. This MoU has been signed after the de-merger of the MBR from the MFSA in April 2018.
The Chief Executive Officers of both institutions reiterated that this MoU continues to ensure mutual assistance and collaboration especially in relation to the efforts being made in safeguarding the corporate and financial sectors from being used for criminal purposes, including money laundering and funding of terrorism.
The new MoU has immediate effect and is in line with commitments made with international organisations in addressing key recommendations for enhanced levels of collaboration between local institutions. The MoU also allows both parties to enter into further agreements for mutual assistance such as information-sharing and other operational arrangements in specific areas of operation.
Feel free to contact us if you require any further information on the MFSA or the MBR.
