The MFSA last night, 15 March 2021, published the new Company Service Providers (CSP) Rulebook, which translates the updated CSP Act into a workable regulatory framework. CSPs requiring authorisation will be able to submit their applications to the Authority through the MFSA’s LH Portal between 16...
The 2021 IFSP Conference drew to a close today, 5 March 2021, after carrying on the overall conference theme of Malta at the crossroads. Hon Dr Mario De Marco, Opposition Spokesperson for Finance, addressed participants on the way forward for financial services in Malta. While praising...
The 2021 IFSP Conference opened yesterday, 4 March 2021 at 14:00 with close to 200 people in attendance. The conference continues today, 5 March 2021 at 14:00. This year’s conference is titled “Malta at the crossroads”, which as the IFSP President, Dr Wayne Pisani told participants...
The Malta Financial Services Authority (MFSA) said that both the licensed Trust and Company Service Provider (TCSP) and the banking sectors are “fully compliant with international requirements”, in as far as the maintenance and accuracy of Ultimate Beneficial Owner (UBO) information in Malta, noting that...
OECD’s Malta peer review on tax information sharing highlights problems with reporting of data as reason for downgrade. The IFSP duly notes the outcome of the Global Forum on Transparency and Exchange of Information for Tax Purposes: Malta 2020 (Second Round) Peer Review Report (‘the Report’)...
A number of members have had questions about some of the questions included in the MFSA’s Questionnaire of Financial Crime Compliance, now due to be submitted on 29 May after the IFSP asked for an extension on the submission deadline. The queries and requests for...
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...
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,...
The IFSP notes recent press reports that suggest that Malta appears to have failed to reach a satisfactory level in its assessment by MONEYVAL in the Mutual Evaluation Report following the assessment of Malta’s anti-money laundering and combating the financing of terrorism system as at...