The regulator for financial services in Malta, the Malta Financial Services Authority (MFSA) published a new ‘General Code of Conduct for Decision Makers in the Financial Services Industry’.
The code is aimed at strengthening governance standards, organisational culture, and ethical conduct across Malta’s financial services sector, with the MFSA explaining that this was essential in order to foster trust, stability, and credibility within the entity and the broader financial sector.
It highlights five core values: integrity; guiding complex decision-making; accountability and transparency; commitment to compliance and legal standards; and respect and fairness.
“The MFSA’s new Code serves as a cornerstone of integrity, providing clear expectations on responsibilities and performance standards to ensure consistent, transparent, and accountable decision-making. By adhering to these principles, Decision Makers can better safeguard the interests of clients, shareholders, and the broader community, while reinforcing confidence in the Maltese financial system,” the MFSA explained.
The MFSA said it would assess the level of adherence to its principles as part of its supervisory activity, including regulatory inspections. Where material shortcomings are identified, failures to observe the Code may be taken into account when determining the nature and severity of any supervisory measures or administrative sanctions.
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