MFSA publishes Consultation Document entitled ‘Stakeholder Consultation on Revisiting the Corporate Governance Framework for Entities Authorised by the MFSA and Listed Companies’

The Malta Financial Services Authority published a Consultation Document entitled ‘Stakeholder Consultation on Revisiting the Corporate Governance Framework for Entities Authorised by the MFSA and Listed Companies’. The Authority’s primary objective is the implementation of a new Corporate Governance Code through which it is seeking to raise the bar for corporate governance standards and to encourage the maintenance of a prudent and consumer-focused corporate culture.

The Code comprises of a number of principles, to be applied on a ‘best effort basis’, ensuring that the principle of proportionality remains at the core of its application. These are complemented by supporting provisions to guide the entities towards achieving the objectives set out in the principles.

It is organised into four main sections, as follows:

• (i) the Effective Board;
• (ii) Internal Controls;
• (iii) Stakeholder Engagement
• (iv) Corporate Culture, Corporate Social Responsibility and Environmental, Social and Governance.

For more information visit https://www.mfsa.mt/news-item/new-mfsa-corporate-governance-code-enhancing-the-governance-culture-and-conduct-of-mfsa-authorised-entities/ or get in touch on [email protected].