MGA and MFSA sign MoU to strengthen regulatory cooperation – Malta Gaming Authority

Summary

The Malta Gaming Authority (MGA) and the Malta Financial Services Authority (MFSA) have signed a bilateral Memorandum of Understanding (MoU) to deepen regulatory cooperation. The agreement complements an existing multi‑party MoU — which includes the Sanctions Monitoring Board (SMB) and the Financial Intelligence Analysis Unit (FIAU) — that focuses on anti‑money laundering (AML), countering the financing of terrorism (CFT) and proliferation issues.

This new bilateral MoU sets out a broader framework for information exchange, co‑ordination on due diligence and enforcement, and joint capacity building through training and upskilling where regulatory responsibilities overlap. MGA CEO Charles Mizzi and MFSA CEO Kenneth Farrugia both emphasised the importance of stronger inter‑agency ties and professional development for supervisors.

Key Points

The MGA and MFSA have signed a bilateral MoU to enhance co‑operation across regulatory activities.
The MoU complements an existing multi‑party agreement (SMB, FIAU, MFSA, MGA) covering AML/CFT and proliferation.
It formalises information exchange, mutual support and co‑ordination on due diligence and enforcement.
Includes provisions for training and upskilling of supervisors to strengthen institutional competencies.
Leadership statements stress commitment to high regulatory standards and closer inter‑institutional collaboration.
Aims to ensure coordinated, responsive oversight of Malta’s financial and gaming sectors.

Why should I read this?

Quick and informal: If you deal with licensing, compliance or run a gaming or financial business in Malta, this matters. It means regulators are planning to share more info, train staff together and tighten co‑ordination — which could affect reporting expectations and enforcement. We skimmed the formal bits for you, but if you’re on the receiving end of regulation, the details are worth a look.

Context and relevance

This MoU signals Malta’s ongoing push to reduce regulatory fragmentation and to align oversight across sectors that increasingly interact. It mirrors wider international trends favouring inter‑agency cooperation to bolster AML/CFT defences and regulatory resilience. Licensees operating across gaming and financial services should note the emphasis on due diligence, enforcement co‑operation and supervisor upskilling — factors that may influence compliance priorities and supervisory dialogue going forward.

Source

Source: https://www.mga.org.mt/mga-and-mfsa-sign-mou-to-strengthen-regulatory-cooperation/