Three EU infringements dating back to 2014 have been put to bed, with the European Commission satisfied that Malta has taken the necessary steps to comply with European legislation. 

The closed infringements - two of which relate to credit institutions and a third concerning vessel traffic monitoring - mean Malta has managed to close six infringement files since the start of the year. 

Deputy Prime Minister and Minister for European Affairs Louis Grech remarked that “Malta is committed to continue working to seek closures of other pending issues”. A statement from his office said that Malta "continues to maintain an exceptional record in complying with European legislation." 

The first infringement, which was opened in January 2014, related to access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms. The Directive concerned required amendments to be made to both primary and second legislations in relations to the Investment Services Act and Banking Act amongst others.

A ministry statement attributed the delay in transposing this Directive to "the amount of legislation involved."

The second infringement related to the establishment of a framework for the recovery and resolution of credit institutions and investment firms, as well as the amendment of Council Directives and Regulations of the European Parliament and the Council.

The last infringement, submitted in October 2014, related to the Community’s vessel traffic monitoring and information system. A ministry statement said the infringement notice was due to a misunderstanding with the European Commission, which had issued a Letter of Formal Notice even though Malta had already notified the Commission that a transposition was not necessary. The Commission subsequently opted to automatically close the infringement.