S.L. 403.24 Art. 6Transparency and accountability.

(1) The competent authority shall carry on its duties in a transparent and accountable manner taking into account the protection of confidential information.

(2) The competent authority shall publish the following information, in accordance with any delegated acts and implementing technical standards adopted by the Commission pursuant to Article 31(4) and (5) of the Solvency II Directive:

(a) the texts of laws, regulations, administrative rules and general guidance adopted in Malta in the field of insurance regulation;

(b) the general criteria and methods, including the tools to be used in the supervisory review process;

(c) without prejudice to the confidentiality provisions contained in the Act, aggregate statistical data on key aspects of the application of the prudential framework in Malta;

(d) the manner of exercise of the options provided for in the Solvency II Directive;

(e) the objectives of its supervision and its main functions and activities.

(3) The information published in accordance with sub-regulation (1) shall be sufficient to enable a comparison of the supervisory approaches adopted by the different European regulatory authorities, including the competent authority. The information shall be published following a common format and updated regularly. The information referred to in paragraphs (a) to

(e) shall be accessible at a single electronic location.