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Author: Simon Gatt

Updating AML rules

The PMLFT sub-committee is another that has been kept busy during 2018, and will continue to be deeply engaged through 2019. Again, there are a number of strands to the committee’s efforts: the Register of Beneficial Owners (RBO), the updated Implementing Procedures (both Part 1...

Banking woes

It is unfortunate to have to recognise that practitioners continue to face problems in their dealings with banks in Malta. Many are refusing to open bank accounts for corporate customers coming from abroad or taking an are inordinate length of time to process requests and provide...

A taxing year….

The IFSP’s Tax and EU Affairs sub-committee during 2018 has worked on behalf of its members on a number of fronts, namely the Mandatory Disclosure Directive, the implementation of ATAD, the taxation of digital assets, the ongoing problems with delays in the processing of tax...

Introducing AML for VFA Issuers

Essential preparation for prospective MLROs working with VFA Issuers course running on 14 and 18 March, 2019 Crunch time for issuers of Virtual Financial Assets has arrived. Issuers need licenses and authorisations, and among the requirements imposed by the MFSA is the need for each issuer to...

IFSP Conference moved to 25 February

The IFSP's conference for 2019 has been moved to Monday, 25 February 2019. It will be held, as in previous years, at Xara Lodge outside Rabat. This year's conference is titled Striking a balance for financial services - regulation and competitiveness. The themes to be discussed deal...

IFSP to hold course for prospective VFA Agents

The new Virtual Financial Assets Act will come into force this October, making Malta the first jurisdiction to create a regulated space for virtual assets, cryptocurrencies and other finance-related activities mediated through distributed ledger technologies like blockchain. A newly regulated area needs licensed operators and service...

Juanita Bencini, outgoing IFSP President, addressing the IFSP AGM, flanked by Council members Austin Demajo and Andrew Zammit

Outgoing IFSP President welcomes MFSA reorganisation

New Council and President elected to lead the Institute though the coming years   Members of the Institute of Financial Services Practitioners elected a new Council and President during the Institute’s AGM held on 7 May 2018. Outgoing president Juanita Bencini thanked the Council and members for...

Malta Yachting industry challenges Notice by EU Commissioner

The Malta Maritime Law Association, the Malta Maritime Forum, the Yachting Services Trade Section within the Malta Chamber of Commerce, Enterprise and Industry, the Institute of Financial Services Practitioners and the Super Yacht Industry Network Malta denounce the recent Notice sent to Malta by the...

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