The articles published in various international media over the recent months, refer. The International Monetary Fund (IMF) has published its findings on Malta on 15th May 2013.
Regulatory environment
RTFX Ltd holds a broker/dealer license issued by the Malta Financial Services Authority (MFSA) in March 2009. The MFSA was established by law on 23 July 2002. It is a fully autonomous public institution and annually reports to the Maltese Parliament. The MFSA has taken over supervisory functions previously carried out by the Central Bank of Malta and the Malta Stock Exchange and is the single regulator for financial services in Malta. The sector incorporates all financial activity including banking, investment, insurance and funds. The MFSA also manages the Registry of Companies and responsibility as the Listing Authority. Malta has been a member of the European community since 1st May 2004.
As part of its ongoing regulatory obligations towards the MFSA, RTFX submits monthly reports to ensure full compliance with European norms in terms of capital adequacy ratios. Client funds are segregated from RTFX own funds. RTFX Ltd maintains the long standing banking relationships with UBS and HSBC, previously enjoyed by Realtime Forex SA.
In accordance with the European norms, and in order to maintain the reputation and integrity of the Maltese financial system, the MFSA was one of the fist European countries to legislate on matters concerning anti money laundering and funding of terrorism back in September 1994. RTFX Ltd, as a Maltese financial institution, is subject to Maltese law and all applicable regulations. RTFX Ltd is in compliance with all laws and regulations.
With a Swiss secrecy culture inherited from Realtime Forex SA, RTFX Ltd has greatly appreciated the Maltese Professional Secrecy Act (Chap 377 of the Laws of Malta), which regulates RTFX Ltd’s obligation to disclose information held by it in respect of its clients in connection with its business activities or for the purposes of servicing its clients. According to this Act, RTFX Ltd would have a duty to disclose information held by it in respect of any person/s only when required to do so:- by a competent law enforcement or regulatory authority investigating a criminal offence or a breach of duty;- by a magistrate in the cause and for the purposes of any preliminary criminal proceedings (in genere);- by a court of criminal jurisdiction in the course of a prosecution for a criminal offence.
Any request for the disclosure of information must in all cases be channelled through the Maltese Attorney General’s Office, the Law Courts in Malta or through the appropriate diplomatic channels in Malta.
