MFSA publishes a new Credit Intermediaries’ Rule

The MFSA issued a rule applicable to Credit Intermediaries and Credit Institutions for the purposes of regulations 6 and 18(A) of the Credit Agreements for Consumers relating to Residential Immovable Property Regulations which in turn transpose the Mortgage Credit Directive. This rule focuses on the knowledge and competence requirements for staff of Creditors and Credit Intermediaries in terms of the Mortgage Credit Regulations (SL 378.10). The qualification requirement applicable to Bank staff involved in the selling/promotion of home loans applies as from 21 March 2019.