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Page 1: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta

MALTA FINANCIAL SERVICES AUTHORITY

Annual Report and Financial Statements 31 December 2019

Page 2: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 3: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 4: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 5: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 6: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 7: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 8: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 9: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 10: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 11: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 12: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 13: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 14: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 15: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 16: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 17: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 18: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 19: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 20: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 21: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 22: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 23: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 24: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 25: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 26: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 27: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 28: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 29: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 30: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
Page 31: MFSA Financial Statements 2019 · Jo eph Cuschier. A, CPA, MBA (Henley UK), CIMA A v. Dip MA C ief Execut. fficer . pwc Independent auditor's report To the Stakeholders of the Malta
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