The India International Financial Services Centres Authority (IFSCA) and the Malta Financial Services Authority (MFSA) have entered into a Memorandum of Understanding to formalize regulatory cooperation in areas of mutual interest. The MoU was signed by IFSCA Chairperson K Rajaraman and MFSA Chief Executive Officer Kenneth Farrugia, and was virtually exchanged and operationalized. The MoU aims to facilitate information sharing on recent trends and best practices in financial market development, regulatory approaches and business structures in each jurisdiction. It also covers cooperation to promote and secure the fitness and properness of licensed or registered persons, support high standards of fair dealing and integrity in conduct of business, facilitate enforcement of applicable laws, rules and regulations for financial products, services and institutions, and share information on technology applications including financial technology and regulatory technology.

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