Regulatory News

Here you can find the latest regulatory news from the MFSA, MGA, and FIAU, analysed by Mazars in Malta.

MFSA publishes 2020 Annual Report

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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.

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Amendments to the Prevention of Money Laundering and Funding of Terrorism Regulations

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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).

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MFSA: Guidance on IT related arrangements

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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

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2021 Risk Evaluation Questionnaire (REQs) deadlines

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The 2021 REQs are now available on the FIAU's Compliance and Supervision Platform for Assessing Risk (CASPAR) System for completion by subject persons.

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Insurance intermediaries: FIAU issues Interpretative Note

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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').

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FIAU publishes revised version of Implementing Procedures - Part I

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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”.

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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).

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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.

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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.

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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.

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