Cooperation and information sharing

To carry out their duties properly, the Office of the Arbiter for Financial Services and other competent authorities may cooperate and exchange information (refer to article 27A of the Arbiter for Financial Services Act). This applies especially where, in the Arbiter’s view, an issue may have broader regulatory implications, including situations that appear to affect more than one customer of one or more financial service providers.

The Arbiter may also instruct the Board to enter into a Memorandum of Understanding with the relevant competent authorities, setting out the terms on which such cooperation and information-sharing will take place. Any information shared must be treated as confidential by the parties involved.

The Office of the Arbiter for Financial Services has a Memorandum of Understanding (MoU) with the Malta Financial Services Authority, which sets out how the two entities will cooperate and share information needed for each to perform its statutory functions. It covers regular engagement, requests for assistance, complaint-trend reporting, and alerts on serious shortcomings, while safeguarding confidentiality, lawful use, and data-protection requirements. 

View Memorandum of Understanding with the Malta Financial Services Authority