Register of Beneficial Owners and trusts Applies to all trusts from 10 March 2020 11 February 2020 The IFSP and STEP Malta have been in discussion with the MFSA about the Register of Beneficial Owners (RBO) for trusts. We urge you to keep in mind that the relevant EU...
MEPs have backed the Brexit deal by 621 to 49 votes, paving the way for the UK to leave the European Union on Friday (31 January). After an emotional debate that lasted more than two hours, MEPs joined hands after the vote for a rendition of...
Today the MFSA published a Feedback Statement following a Consultation Document on Pillar 1 of the FinTech Strategy – Regulations. The Feedback Statement provides the MFSA’s position in relation to the proposed initiatives within the Consultation Document, namely the implementation of the MFSA FinTech Regulatory...
The real negotiations are about to kick off. Following the recent elections in the United Kingdom, the Withdrawal Agreement was approved by the House of Commons on 24 January. This means that unless something extraordinary happens in the coming days, the UK will leave the Union...
The IFSP’s 2020 Conference to be held on the 21st February The financial services industry is in an unprecedented state of flux. Practitioners face the onslaught of seemingly endless regulations, alongside the challenges posed by jurisdictional reputation issues, banking issues, onerous responsible taxation rules and ever increasing public scrutiny. Never before have the financial...
IFSP demands that all in positions of responsibility and leadership and linked in any way to assassination, money laundering, abuse of public office, or corruption must step back in the national interest Valletta, 29 November 2019 The IFSP notes recent events unfolding in Malta with dismay and...
The Malta Financial Services Authority has issued a consultation paper on the possible future regulation of Corporate Services Providers under the title Raising the Bar for Corporate Services Providers. This is an area of crucial importance to most of the members of the IFSP. Many,...
“We are showing the world that Malta is very serious about addressing issues related to money-laundering and financial crime. It is the duty of financial practitioners to come forward with any suspicious activities.” Minister for Finance Edward Scicluna made this statement whilst addressing the the...
In a report published today, the Council of Europe’s anti-money laundering body MONEYVAL calls on the Maltese authorities to strengthen their practical application of their measures to combat money laundering and financing of terrorism. The report makes a comprehensive assessment of the effectiveness of Malta's anti...
Minister for Finance Edward Scicluna, Minister for Home Affairs and National Security Michael Farrugia, Minister for Justice, Culture and Local Government Owen Bonnici together with Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri, welcome the recent MONEYVAL mutual evaluation report that followed...