Welcome to the monthly capital markets update, a briefing from our capital markets practice area rounding up the month’s regulatory developments within the equity and debt capital markets and looking ahead to future developments.
Malta Update
UPDATE NUMBER 08/2025/01
In 2024, the MFSA intensified its enforcement efforts, conducting 612 investigations, of which 220 related to unauthorised persons, including scams. The main areas of focus were investment services, company service providers, and capital markets, with nearly half of all cases arising from failures to submit statutory documentation. Other recurring issues included governance weaknesses, questions of fitness and properness, and breaches of market abuse rules. Overall, 60% of investigations were concluded during the year, leading to 134 enforcement actions and penalties amounting to €926,485, the majority linked to late or missing submissions.
The MFSA also entered into 38 settlement agreements, enabling faster resolution of cases. Emphasising its firm stance against unauthorised activity, the MFSA highlighted its dual aim of educating market participants and deterring misconduct.
You can also access a more detailed overview of the enforcement work carried out by the MFSA in 2024.
European Union Update
There were no updates from an EU regulatory perspective for the month of August 2025.
