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is sharpening prudential expectations while also reducing unnecessary reporting friction. For firms, the message is simple: safeguarding arrangements must be well-justified, well-documented and continuously monitored, and reporting systems must start preparing now for a more structured, JSON-based future.
The latest two MFSA circulars signal a clear shift toward tighter governance and smarter supervision across Malta’s financial services sector. One focuses on how payment institutions and electronic money institutions may safeguard client funds through secure, liquid, low-risk assets, while the other introduces the Harmonised Regulatory Reporting Framework, a new reporting model designed to simplify domestic returns and improve data quality.
Together, they point to a regulator that is sharpening prudential expectations while also reducing unnecessary reporting friction. For firms, the message is simple: safeguarding arrangements must be well-justified, well-documented and continuously monitored, and reporting systems must start preparing now for a more structured, JSON-based future.
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