GTG Advocates has been actively partnering with FinanceMalta for nearly a decade, to help showcase Malta’s strengths in financial services. “Malta has long been recognized as a reputable financial jurisdiction but now, with so many changes at political and regulatory levels, we also need to start being recognized for our adaptability,” says Dr IAN GAUCI, Managing Partner at GTG Advocates.
Founded in 1997 and based in Valletta, GTG has been at the forefront of Malta’s legal profession, blending established private practices into a centre of expertise and excellence.
In recent years, GTG Advocates intensified its engagement with both local and international stakeholders to promote Malta’s financial sector. In recent years, it has also been doing so through participation in international conferences, hosting webinars, and contributing to policy discussions, also in collaboration with FinanceMalta.
“Our partnership with FinanceMalta leverages our combined expertise with efforts aimed particularly at highlighting Malta’s robust regulatory framework and business-friendly environment. Malta has long been recognized as a reputable financial jurisdiction but now, with so many changes at political and regulatory levels, we also need to be recognized for our adaptability,” notes Dr Gauci
Dr Gauci explains how regular collaborations with industry associations and regulatory bodies such as the Malta Financial Services Authority (MFSA) and the Malta Digital Innovation Authority (MDIA) have helped GTG contribute to communicate how Malta’s regulatory environment remains cutting-edge and aligned with global standards.
“We are regularly invited to speak at various events, both locally and internationally. To us, these are opportunities to further push the strengths of Malta’s financial services industry and its regulatory regime,” added Dr Gauci.
Over the past years, GTG has undertaken several key initiatives to further support innovation and compliance. Notable among these are the launch of comprehensive fintech regulatory guides and a series of workshops on Environmental, Social, and Governance (ESG) and Distributed Ledger Technology (DLT).
GTG has also conducted tailored Digital Operational Resilience Act (DORA) and ESG programs for its clients, as well as advisory services for new market entrants in sectors such as AI and software.
“These initiatives are designed to support our clients in navigating the evolving regulatory landscape and to foster innovation within the financial services sector,” explains Ian Gauci.
What are foreign clients and investors saying about Malta?
“Look, the feedback when we travel and meet people is often overwhelmingly positive. They commend Malta for its strategic location, the skilled workforce and our robust regulatory framework. Of course, our clients also appreciate the fantastic weather and the warmth of the Maltese people. They recognize that Malta is not perfect, but they appreciate the proactivity of Maltese authorities particularly in how new technologies are being embraced and how the industry is uniting to foster a more supportive business environment.”
Dr Gauci admits that the regulatory environment in Malta is not without its challenges.
“Malta’s regulatory environment is known for its flexibility and forward-thinking approach. These are significant strengths. But the rapid pace of regulatory changes can pose challenges for businesses trying to keep up with compliance requirements.”
“The fast pace of technological innovation is also challenging, but Malta has been proactive in addressing these. For example, in 2017, Malta became one of the first nations to comprehensively regulate crypto and established the MDIA to build knowledge and capacity in this area.”
“These strategic moves, in my opinion, have helped make Malta’s value offering more holistic and forward-looking,” explains Dr Gauci.
Looking at the Industry’s Future
Looking ahead, Ian Gauci feels there are several areas where Malta could further enhance its support for financial services companies.
“Malta could improve by streamlining regulatory processes and offering more targeted incentives for startups and fintech companies.”
“Leveraging more supervisory technology (suptech), compliance technology (comptech), and regulatory technology (regtech) could also improve efficiency and reduce regulatory burdens. Additionally, increasing investment in digital infrastructure would further solidify Malta’s position as a leading financial hub.”
Despite these challenges, Ian Gauci believes that the unique advantages and opportunities that Malta offers set it apart from other financial services jurisdictions.
“Malta boasts a highly educated workforce, competitive tax regimes, and a strategic location within the EU. Its proactive regulatory approach to emerging sectors like fintech, blockchain, and AI provides ample opportunities for innovation and growth. “These factors make Malta an attractive destination for financial services.”
“International clients and investors generally rate Malta highly in terms of its overall business environment for financial services. They appreciate the supportive regulatory environment, ease of doing business, and Malta’s commitment to fostering innovation.”
“The overall sentiment is positive and many continue seeing Malta as a prime location for financial services.”
GTG is now eyeing several forthcoming international participations and initiatives.
Over the coming months, we shall be attending several international conferences focusing on fintech and innovative technology. We also plan to collaborate with FinanceMalta on a new initiative aimed at attracting more AI and DLT companies along the fintech and financial services outfits to the island,” he announced.
“I think this initiative in particular will go a long way to enhance Malta’s reputation as a forward-thinking financial hub,” concluded Dr Gauci.
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