The process leading to the creation of a separate, standalone registry of companies’ entity has been put in motion, leaving the Malta Financial Services Authority to focus on its regulatory role, Parliamentary Secretary for Financial Services Silvio Schembri announced on Thursday.
Read: MFSA reform to trigger 'significant changes' - Silvio Schembri
While addressing the annual IFSP conference themed, ‘Efficiency and Innovation, the way forward for Malta’s Financial Services Industry’, Mr Schembri referred to the need to strengthen the internal management structure of the authority to make it more proactive in exploring non-traditional segments of the market.
“This will primarily be spearheaded by the creation of a new role, that of a CEO”, said the Parliamentary Secretary, adding that this is a result of a public consultation launched a few months ago that asked for the views of the industry and the public on how they see the regulatory authority evolving in the coming years.