Malta - An International Financial Services Centre -The 1994 Legislative Package

1. INTRODUCTION

A substantial legislative package was pushed through Parliament during 1994 as the next step in the process of evolving Malta into an international financial and trading centre.

The objectives of this legislative package are:

(i) To evolve the Malta International Business Authority into the more centralised role of the principal financial services regulator in Malta as the Malta Financial Services Centre;

(ii) To provide a regulatory and legislative framework for the licensing of investment services and the formation and licensing of collective investment schemes;

(iii) To introduce EU standards in a number of important fields including company law, investment services, banking, prevention of money laundering, insider dealing, and professional secrecy;