Five cross-sectoral priorities have been identified in the Supervisory Priorities for 2021 published today by the Malta Financial Services Authority (MFSA). This detailed document provides updates on the areas of focus which had been identified for 2020 and sets out the priorities for the upcoming year.
The cross-sectoral priorities identified by the authority are Corporate Governance and Culture; Financial Crime Compliance; the impact of COVID-19; ICT Risk and Cybersecurity; and FinTech and Innovation.
“In 2020, in line with MONEYVAL recommendations, supervision has been strengthened and we have significantly increased the number of onsite inspections conducted”, said MFSA Chief Officer Supervision and Chief Executive Officer ad interim, Dr Christopher P. Buttigieg.
The vision of MFSA, Buttigieg said, is to establish Malta as the jurisdiction of choice for financial services.