The MFSA has released a circular that includes important updates to the CSP Rulebook:
- Removal of the requirement to submit an Annual Self-Declaration for all Under Threshold CSPs
- Removal of Statement of Solvency and accompanying balance sheet submission requirement for individual CSPs
- Removal of the requirement to submit a Certificate of Compliance for all CSPs
- Removal of the requirement to submit the Annual Financial Return for individual CSPs
- Updates to the submission of Financial Information by CSPs constituted as Partnerships
Other changes include a change in the timing for evaluating internal controls, changes to the process of the voluntary cancellation of the authorisation, changes to the process of Requirement for notification by Class A and Class C CSPs when the registered office address of their clients differs from the CSP’s own registered office address and updates in reference to some of the breaches
The MFSA also emphasises that no deadline extensions from the CSP Rulebook will be approved. The Authority is in the process of updating the ACR template to incorporate the mentioned changes. Therefore, it is crucial to refrain from downloading or completing the ACR at this point. The Authority will update its website, confirming when the revised ACR is available for download. A Circular will be issued well before the submission deadline to provide advance notice of this update.
The circular can be accessed through the following link:
https://www.mfsa.mt/wp-content/uploads/2024/01/Circular-Addressed-to-Company-Service-Providers.pdf
