Regulatory Compliance

The development and establishment of a regulatory compliance system is one of the most important tasks for a bank in order to secure the soundness and appropriateness of its business. The scope of regulatory compliance, both at local and EU level, has dramatically increased and continues to expand. Regulatory penalties have also increased over time and tighter scrutiny is being applied across the banking sector.

The Central Bank of Malta (the “Bank”) ensures that all its internal policies are robust and sustainable to be able to respond effectively to changes in legislative frameworks. To this effect, the Bank has set rules in its Code of Ethics for all members of staff to follow in matters of professional ethics. The Bank’s Code of Ethics also serves as a reference with regard to the standard of conduct that third parties are entitled to expect in their dealings with the Bank. Furthermore, the Bank has established a framework for appropriate behaviour by all its employees in respect of matters concerning insider information and to protect both individual members of the staff and the Bank as a whole. The Bank also has policies in place that ensure compliance with both local and EU data protection legislation and anti-money laundering legislative frameworks.