1. Background
The MFSA is issuing a Consultation Document on the amendments to the Insurance Business Act and the Insurance Distribution Act to highlight the changes proposed to be carried out to the said Acts in light of issues surrounding the exchange of confidential information between entities within the same group.
The MFSA is proposing these amendments to allow authorised insurance undertakings and enrolled insurance intermediaries forming part of a group of companies to communicate confidential information which is in their possession whilst ensuring compliance with the provisions of the Professional Secrecy Act and of article 257 of the Criminal Code.
The proposed amendments are not binding and are subject to changes or revisions. Any comments and feedback in relation to these changes are to be submitted on the below online form.
2. Documents
The Consultation Document and draft legislation can be downloaded from the URL below:
