The Malta Financial Services Authority (MFSA) has issued the
results of a Thematic Review assessing compliance by Financial Institutions offering payment accounts. The review focused on
the quality and accuracy of Fee Information Documents
(FID), Statements of Fees (SOF), and
the information published on the MFSA's Payment
Accounts Fees Comparison Tool.
Key Observations
The MFSA noted that Financial Institutions complied with the
standardised format requirements under Commission
Implementing Regulations (EU) 2018/33 and
2018/34. However, several shortcomings were
identified:
- Statements of Fees: One institution
failed to meet the required presentation standards, prompting the
MFSA to issue corrective action instructions.
