Malta Financial Services Authority released on Swiss Franc
MFSA, Malta’s financial Services regulatory authority issued a press release asking for information.
On Thursday 15th December 2015, the Swiss National Bank (SNB) announced that it will no longer be enforcing and maintaining the minimum exchange rate for the Swiss Franc against the Euro. As a result of this event, there has been significant volatility in FX markets in relation to Swiss Franc against a number of other currencies.
In this scenario, the Authority requests that any licence holder affected by this market event should inform the Authority immediately without undue delay. In the affirmative, kindly provide us with the following:
1. your comments regarding the materiality of any losses (whether realised or
unrealised) vis-à-vis the scale of company’s operations, including, but not limited, to
the maintenance of minimum regulatory capital; and
2. any other factors which you feel you should bring to the Authority’s attention.
MFSA is asking for this information as soon as possible and in any event by close of
business Thursday 22nd January 2015.
Source: MFSA
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