Malta yesterday endured a review of its anti-money laundering rules and protocols by the Financial Action Task Force (FATF), after tough weeks of questioning by international assessors. The FATF’s International Co-operation Review Group (ICRG) analysed Malta’s anti-money laundering rules after its recent Moneyval assessment. Based upon...
The Financial Intelligence Analysis Unit has published a list of all government jobs whose authority and control on vast amounts of money and influence, qualifies them as political exposed persons (PEPs) The list, drawn up on advice of the National Co-ordinating Committee on Combating Money Laundering...
Over twenty countries are backing Malta to not be grey-listed at the FATF following a shake-up of the financial and legal frameworks over the past 18 months, however it is believed three countries are pushing for the country to be grey-listed. It is understood that despite...
On June 10, the Governing Council of the European Central Bank decided to confirm its very accommodative monetary policy stance. The interest rate on the main refinancing operations (MRO) and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at...
As the G7 nations agreed to set a global minimum corporate tax rate of 15%, Finance Minister Clyde Caruana pledged that he would not surrender Malta’s low tax regime, but suggested that the issue was more complex than simply resisting any changes. Caruana was giving an...
It has been a long road for the FIAU’s Legal Affairs Section as it coped with numerous updates to national legislation to bring Malta in line with AMLD5 and MONEYVAL recommendations. Jonathan Phyall, FIAU Head of Legal Affairs, and Daniel Frendo, manager of Legal and...
After the accolades, an agreement among the world's wealthiest countries to set a global minimum tax on the biggest companies now faces a long, bumpy road to implementation. The path is complicated even among the Group of Seven rich nations that endorsed the plan, with US...
Markets will be looking for clues on Thursday on when the European Central Bank might start winding down monetary stimulus, as the economic rebound from the pandemic accelerates and eurozone inflation surges past the bank’s target. The ECB’s 25-member governing council is widely expected to hold...
Malta has passed the MONEYVAL test. The first enhanced follow-up report, dated April 2021, has found that Malta has made sufficient progress to be assessed as no longer non-compliant. The next step is the FATF opinion, expected at the end of June or early July. MONEYVAL...
The Registrar of Companies would like to bring to the attention of the Company Service Providers and the general public the recent amendments that took place in the Company Service Providers Act and how this will impact on the operations of the Malta Business Registry...