On Jul. 3, MLT GVT issued regulations re Dir 2023/2225 on credit agreements.
MLT GVT issued L.N. 178 of 2026, the Consumer Credit Intermediaries (Admission) Regulations, 2026, transposing Article 37 of Dir 2023/2225 on credit agreements for consumers and repealing Dir 2008/48.
Key Points
New standalone regulations under the Banking Act (Cap. 371) and Financial Institutions Act (Cap. 376) establishing an admission framework for credit intermediaries carrying out consumer credit intermediation activities in or from Malta.
No credit intermediation activities in relation to a consumer credit agreement may be provided in Malta unless the person is duly admitted by MLT FSA as a credit intermediary; creditors as defined in the regulations are exempt from this admission requirement.
Admission may be granted without conditions, subject to conditions, or refused; MLT FSA may vary, revoke, or impose new conditions after admission is granted; applicants must be informed in writing of reasons for refusal.
Credit intermediaries admitted under these regulations, as well as applicants, must have both their head office and registered office in Malta.
MLT FSA to establish and maintain a publicly available register of admitted credit intermediaries and a single information point for public access, compiled electronically and kept constantly updated.
MLT FSA may withdraw admission on grounds including renunciation, six months of inactivity, false or misleading statements, failure to fulfil admission conditions, serious or systematic infringement of applicable rules, bankruptcy, liquidation, or insufficient assets to cover liabilities.
MLT FSA may impose restrictions on admissions, including removal or replacement of officers, requirement to take or refrain from specified actions, or prohibition from undertaking any transaction or class of business.
Administrative penalties for non-compliance may not exceed €150,000 per breach, imposable by written notice without recourse to a court hearing; penalties may take the form of a fixed penalty, a daily penalty, or both, and must be effective, proportionate and dissuasive.
Appeals against MLT FSA decisions lie before the Financial Services Tribunal in accordance with article 21 of the Malta Financial Services Authority Act.
