Regulatory Alerts2020-03-13
Added · Updated
Circular to Financial Institutions on Contingency Preparedness in the Context of Coronavirus (COVID-19)
The Malta Financial Services Authority issued this circular to require financial institutions to enhance their business continuity arrangements in response to the COVID-19 pandemic. Institutions must ensure operational preparedness to minimize adverse effects and are mandated to report any adverse changes in customer behavior, service continuity difficulties, or the activation of contingency plans to the regulator. The authority is actively monitoring developments and cooperating with the Central Bank of Malta and European Supervisory Authorities to oversee these measures.
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