Malta's Ministry for Finance & Employment issued a statement supporting the revision and increase of Malta Financial Services Authority (MFSA) licence fees, arguing the changes are needed to resource the authority’s supervisory and regulatory functions and safeguard the sector’s reputation. The ministry framed the measure as a fee reform aimed at regulated sectors rather than a broad tax increase that would be borne by households. The statement links the fee review to an International Monetary Fund (IMF) recommendation and says the revised fees are designed to cover the resources required for MFSA’s expanded remit, noting that the authority’s functions and the financial services sector have grown substantially over the past decade while fees have generally remained unchanged since 2014. It adds that the increases target sectors exposed to specific risks, that Malta remains competitive compared with other jurisdictions, and that the revised fees are set to partially cover resource needs without exceeding equivalent fees elsewhere. The ministry also notes that MFSA presented a proposed new fee structure to its Stakeholder Panel a few months earlier, invited feedback from industry representatives across the affected sectors, and considered responses during drafting, with attendees generally agreeing that the reform was overdue.
Ministry for Finance & Employment (Malta) 2025-03-01
Malta's Ministry for Finance & Employment defends MFSA licence fee increases to fund supervisory resources
Malta's Ministry for Finance & Employment supports revising and increasing Malta Financial Services Authority (MFSA) licence fees to enhance supervisory functions, aligning with an International Monetary Fund recommendation. The reform targets sectors with specific risks and aims to maintain Malta's competitiveness, with fees partially covering resource needs without surpassing those in other jurisdictions. The MFSA engaged industry stakeholders, who largely agreed on the necessity of the reform.