S.L. 378.10 Art. 3CFinancial education of consumers.

(1) The MFSA shall promote measures that support the education of consumers in relation to responsible borrowing and debt management, in particular in relation to credit agreements.

(2) The MFSA shall provide clear and general information to consumers on the credit granting process in relation to credit, in order to guide consumers, especially those entering into a credit agreement for the first time.

(3) In order to carry out the obligation prescribed in sub-regulation (2), the MFSA may request the assistance of creditors and credit intermediaries, in writing, who shall assist and provide the MFSA in a timely manner, with any information which the MFSA may require.

(4) The MFSA may also request creditors and credit intermediaries, in writing, to provide clear and general information to consumers on the credit granting process in relation to credit, in order to guide consumers, especially those entering into a credit agreement for the first time.

(5) Any information provided to consumers by the MFSA in accordance with sub-regulation (2) and any information which creditors and credit intermediaries are required to provide to consumers in accordance with sub-regulation (4) shall be made publicly available.

(6) The MFSA shall also disseminate information to consumers regarding the guidance which may be published from time to time by the MFSA and, or, by creditors and credit intermediaries in accordance with sub-regulation (5), as well as regarding any guidance on the credit granting process in relation to credit, which may be provided to consumers by the Director General and by consumer organisations from time to time.