The Malta Financial Services Authority is committed to continuously seek to enhance its supervisory approach. The supervision of the trust and fiduciary services industry, carried out by the Malta Financial Services Authority through the Conduct Supervisory Unit, is primarily effected through desk-based reviews of information received and on-site visits.

As part of these desk-based reviews, the Conduct Supervisory Unit has recently issued a thematic questionnaire to a selected sample of authorised entities within the trust and fiduciary services industry. The main purpose of this questionnaire is two-fold: to attain a better understanding of the current market conditions within this industry and to assess the current and possible emerging risks. The questionnaire focuses primarily on governance structures within the authorised entities. In addition, the questionnaire also relates to the general operations, business continuity, record keeping, conflicts of interest, insurance cover, risk assessment and the efficiency of the board of directors. Authorised entities selected to participate in this review have until the 8th May 2015 to complete the questionnaire.

MFSA Newsletter - April 2015

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