Regulatory News
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Regulatory News
Here you can find the latest regulatory news from the MFSA, MGA, and FIAU, analysed by Mazars in Malta.
FIAU: Intelligence factsheet- The misuse of corporate vehicles in Malta
The FIAU has recently published an intelligence factsheet extracted from the results of a strategic analysis carried out in relation to the misuse of companies, whereby at least one of the entities was Maltese.
FIAU: Guidance note on submitting tax related suspicious reports
The FIAU has recently published a guidance note on submitting tax related suspicious reports.
MFSA publishes 2020 Annual Report
The Malta Financial Services Authority published its annual report and financial statements for the year 2020. Among the highlights of the Authority’s performance in that year, the Report mentions the unprecedented enforcement and supervisory performance results achieved by the MFSA in 2020.
Amendments to the Prevention of Money Laundering and Funding of Terrorism Regulations
A legal notice was issued on 30 April 2021 which introduces a number of amendments to the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR).
MFSA: Guidance on IT related arrangements
On 11 December 2020, The MFSA issued a guidance document to all licensed entities entitled ‘Guidance on Technology Arrangements, ICT and Security Risk Management, and Outsourcing Arrangements'. The Guidance covers the implementation of Technology Arrangements and ICT and emphasises the fact that technology has become a fundamental asset to the financial services industry, as a result of which Licence Holders are increasingly reliant on technology to perform business and operational functions
2021 Risk Evaluation Questionnaire (REQs) deadlines
The 2021 REQs are now available on the FIAU's Compliance and Supervision Platform for Assessing Risk (CASPAR) System for completion by subject persons.
Insurance intermediaries: FIAU issues Interpretative Note
The FIAU recently issued an Interpretative Note addressed to insurance intermediaries to clarify the insurance distribution activities which fall within the definition of relevant financial business as per Regulation 2(1) of the PMLFTR ('The Prevention of Money Laundering and Funding of Terrorism Regulations').
FIAU publishes revised version of Implementing Procedures - Part I
The Financial Intelligence Analysis Unit (FIAU) has published a revised version of Part I of its Implementing Procedures in response to “issues highlighted in Malta’s Mutual Evaluation Report”.
MGA: PMLFT Key Function Holder now required to be an FIAU-registered MLRO
July 2020 - The Malta Gaming Authority recently issued a directive (Directive 3 of 2020) on the Key Function of the Prevention of Money laundering and the Financing of Terrorism (PMLFT).
FIAU & MGA publish revision of Implementing Procedures Part II for Remote Gaming
July 2020 - The Financial Intelligence Analysis Unit (“FIAU”), and the Malta Gaming Authority (“MGA”), have announced the publication of a revised version of the Implementing Procedures (Part II) for the Remote Gaming Sector.