Important Notice: New MFSA CSP Rulebook published and CSP License Applications Open
The removal of previous exemptions to warranted professionals and de minimis operators comes into force through the introduction of new CSP rules, that require providers to become authorized, and the division of CSP business into three Classes of activity. Classes – A (incorporation and registered address), B (directorship and company services) and C (all CSP services).
The MFSA has issued the finalised New Company Service Providers Rulebook through its website. The MFSA has also issued the Application Form for those providing CSP services. The License applications close on the 16th May 2021. Those CSP providers who choose not to seek authorization will no longer be able to provide CSP services beyond that date.
Diligex is holding a webinar targeting the evolving framework of the CSP sector on the 30th March 2021. More details and application through the following link: https://www.diligex.eu/news/csp-webinar-the-changing-regulatory-framework/
We also remind you to access the MFSA’s expectations for CSPs published in a Note last week – Building a Compliance Culture. At Diligex we bring together all the AML/CFT, Regulatory, Compliance and Risk assistance you will require, as well as, assisting you in compiling the required application for licensing. For more information on the MFSA’s expectations and how we can assist you please follow this link: https://www.diligex.eu/news/mfsa-expectations-for-csps-building-a-compliance-culture/
The rulebook may be accessed on https://www.mfsa.mt/wp-content/uploads/2021/03/Company-Service-Providers-Rulebook.pdf .
The license application form may be accessed from the following link: https://www.mfsa.mt/firms/conduct-supervision/company-service-providers/