Silvio Schembri announces that on Monday a motion will be presented to amend the MFSA Act

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During the inauguration of Tri-Mer Services’ new offices, Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri announced that on Monday a motion will be presented in Parliament for the first reading to amend the MFSA Act.

‘This will trigger significant changes that will help the MFSA to step up its game’, said Silvio Schembri while explaining that the motion is a result of a public consultation launched in August on strengthening the MFSA.

Silvio Schembri said that the financial services sector is set to write another chapter with the help of digitalisation. ‘A global revolution has started, and it is called Fintech, and we are not happy in being just part of it, we want to lead it’, said Silvio Schembri, adding that the Government is committed to attract Fintech companies.

Silvio Schembri referred to a report by the European Commission which showed that Malta has the highest level of optimism amongst its European peers, with the highest level of optimism registered being amongst operators within the gaming and the financial services. Parliamentary Secretary Schembri described the inauguration of the new offices and the company future plans as a reflection of the sense of trust in the financial sector that is expected to grow.

Ray Mercieca, the founder of the company explained that the inauguration of the new offices is aimed at strengthening the operations and the efficiency of the services provided. Tri-Mer Services will be merging with the audit firm Falzon and Falzon, which will bring the staff complement up to 45.

Tri-Mer services, a company with 18 years of history in financial services, relocated to International House, Mdina Road, Attard with the purpose of consolidating their operations under one roof with the aim of facilitating the company in its drive to work efficiently and offer an ever-better service to clients.​