Good corporate governance is one of the many topics that the
MFSA has always harped on throughout the years. Following a
consultation period earlier this year, on 05 August 2022 the MFSA
published the Corporate Governance Code (the "Code"). The
Code is applicable to all entities authorised by the Authority
except for (i) listed entities falling within the scope of the
Capital Market Rules and (ii) natural persons. Although the Code
per se is considered as 'soft law', some mandatory
provisions have been incorporated into the respective regulatory
frameworks.
The Code provides a set of core principles which are aimed at
enhancing the legal, institutional and regulatory framework for
good governance in the Maltese Financial Services Sector. Each core
principle is supplemented by supporting provisions for further
guidance on how the core principles may be achieved. These
principles are organised into 4 main sections, as follows:
