Maltese authority promises to assist local businesses on Brexit

(source: Unsplash/King's Church International)

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The Malta Financial Services Authority (MFSA) promised to keep informing stakeholders about updates and transitional measures related to a possible no-deal Brexit, the authority said in a press release.

The MFSA also emphasised ensuring licenced entities can continue business with minimal disruption is one of the critical objectives for the authority. The MFSA also underlines that any communication they published should be considered “in the context of a no-deal exit scenario” otherwise the communication itself states otherwise.

“Measures taken will be of a temporary nature and remain subject to any decisions and further recommendations as may be made by the three European Supervisory Authorities,” the MFSA says in the press release.

At the same time the MFSA encourages licensed entities to continue feeding the authority with timely and accurate information on any potential consequences that might occur should the United Kingdom leave the European Union without striking a deal.