Malta strengthens regulatory ties with Slovakia
29 December 2011
The Malta Financial Services Authority has
signed a cooperation agreement with the National Bank of Slovakia. The Memorandum of
Understanding establishes a framework for cross-border cooperation, including
the sharing of supervisory information. The MoU expands on the previous
agreement signed between the two regulators in 2004, which was limited to the
banking sector. Under the updated version, the MoU will provide the authorities
access to information to enhance the supervision of the territories’ insurance
and securities markets. The NBS was established on 1 January 1993, as the independent
central bank of the Slovak Republic. Since January 2009, when Slovakia joined
the Euro area, the NBS has also become responsible for financial market
supervision, including supervision of banks, branch offices of foreign banks,
investment firms, intermediaries of investment services, stock exchanges,
management companies, mutual funds and collective investment undertakings,
reinsurance undertakings, pension fund managing companies, pension funds,
supplementary pension fund managing companies and other supervised entities of
the Slovak financial market.