MFSA gearing up for the next generation of financial services

The Malta Financial Services Authority showcased how it is gearing up for the next generation of financial services during its participation in this year’s edition of the Delta Summit, held between 2 and 4 October.

At the Summit, the MFSA shared its proposal for the Regulatory Sandbox, which provides FinTechs with a regulatory approach to test their technologyenabled financial innovations. Building on the launch of the Virtual Financial Assets Framework, these initiatives position Malta as a thought leader in this space while securing investor protection, promoting market integrity and safeguarding financial stability.

The MFSA team welcomed delegates to discuss how their innovations can benefit from this proposal and from the MFSA’s FinTech Strategy launched earlier this year. One-to-one meetings were also held to discuss other areas of interest, such as the VFA framework and the proposed Security Token Offering policy. As part of the MFSA’s participation in the Summit, Dr Christopher P. Buttigieg, chief officer Policy, Strategy and Innovation delivered a keynote speech focusing on financial supervision in the digital age. Moreover, Christos Efthymiopoulos from the FinTech and Innovation team discussed the challenges of auditing Digital Assets during a Panel session.

During the Summit, the MFSA took the opportunity to continue its recruitment drive and attract new talent to its growing team, in line with its objective to invest in more resources as set out in its recently-launched Strategic Plan.

Commenting on the MFSA’s participation at the Delta Summit, Dr Buttigieg said: “Being present here confirms our commitment to prepare the MFSA for the next generation of financial services, at the heart of which FinTech will play a major role. We welcome the views of practitioners, businesses and creatives and look forward to exchanging ideas with them.”