Malta has developed into a highly reputable and regulated environment in the international banking sector. In its capacity as Malta’s single regulator, the MFSA is vested with the responsibility of supervising and regulating the banking sector. The MFSA has transposed EU Legislation and best practice into its regulatory standards and rules whilst at the same time allowing for the flexibility necessary in the modern dynamic banking environment.
In their totality the Banking Act and the Financial Institutions Act together with all relative rules and regulations issued under their respective authority, regulate the licensing and ongoing compliance requirements of credit institutions, financial institutions, electronic money institutions and payment services institutions.
Our knowledge and understanding of the banking sector, coupled with our excellent relationship with the regulator, places us at the forefront in providing sound commercial and regulatory advice to banks and other financial institutions both at incorporation and licensing stage and in the course of the institutions’ operations.
Our team follows closely all regulatory developments in the banking sector to be in a better position to assist and advise our clients in the banking sector on all regulatory aspects, and this particularly in view of the ever-growing complexities of the banking regulatory environment.
The DF financial services team comprises members possessing legal expertise in the sector as well as professionals coming from a banking and regulatory background with ample practical experience in the industry. In particular, our expertise in banking, financial and regulatory matters is enhanced as a result of the addition of Roderick Psaila and Paul Grech as two of our consultants in the team. Mr Psaila and Mr Grech are Senior Partners of PsailaGrechCONSULT. This combination enables us to approach each and every project not only from a legal point of view but also from a banker’s perspective.
Our banking practice covers a wide range of services including:
- Assistance with compilation and submission of licence application, and related documentation.
- Through our preferred working partners we may also procure assistance in the preparation of business plans and financial projections to be submitted in conjunction with the licence application.
- Assistance in establishing branches, representative offices and subsidiaries of existing banks and financial institutions.
- Incorporation of tax efficient corporate structures serving as SPVs for the banking activity, and corporate restructuring including relative regulatory approvals.
- Ongoing regulatory advice.
- Assistance and advice on financial products and transaction services
- Drafting of KYC, anti-money laundering and regulatory compliance manuals.
- Corporate and regulatory compliance services.
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Dr. Jean C. Farrugia
Dr. Bradley Gatt