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.
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.
MGA publishes 2019 Annual Report
March 2020 - The Malta Gaming Authority (MGA) recently published its Annual Report and Financial Statements for the financial year ending 31 December 2019.
MGA study delves into impact of COVID-19 on Malta gaming industry
July 2020 - A study conducted last April by the Information & Research Unit of the Malta Gaming Authority among the Authority’s licensed online operators, reveals that the worst-hit sector is projected to be the B2C sector, in particular the operators exposed to Type 2 game types.
MFSA document explains its approach to Risk-Based Supervision
The Malta Financial Services Authority (MFSA) recently published a document explaining its risk-based approach to supervision.
ESMA recommendations for 2020 half-yearly financial reports
The European Securities and Markets Authority (ESMA) has published a public statement addressing implications of the COVID-19 outbreak on the publication of half-yearly financial reports.