Financial Institutions
The Financial Institutions Act is geared to the regulation and supervision of those financial services providers which do not fall within the fold of credit institutions as understood under the Banking Act. These Institutions essentially consist of those types of institutions that are not covered by the Banking Act or the Investment Services Act. The distinction with credit institutions licensed under the Banking Act lies in the way a Financial Institution funds its activities. Thus a Financial Institution cannot fund its activities by accepting repayable deposits or other like funds from the public. The activities contemplated by this Act include lending, financial leasing, venture or risk capital, money transmission services, issuing and administering means of payment, guarantees and commitments, trading for own account and for account of others in various financial instruments, underwriting share issues and participation therein as well as money brokerage.
Mifsud & Mifsud Advocates provides advice and related services to existing and prospective Financial Institutions. For further information on Financial Institutions Law please contact us
