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.
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.
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
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 & 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.