MFSA updates authorisation process
Chris Hamblin, Editor, London, 1 July 2021
The Maltese Financial Services Authority has published its 'Authorisation Process Service Charter,' which it believes will improve its licensing process and has opened a new webpage on the subject, along with new forms and supporting guidelines.
The purpose of the charter is to guide people as they prepare and submit applications for authoriation. It sets out the regulator’s expectations in terms of regulatory standards and applies deadlines to many things in the authorisation process and the appointment of people.
The revised authorisation forms have been standardised in all sectors, although they cater for sectors separately. People can now see them in a one-stop digital location on the MFSA’s website. As from 5 July, people can submit them through the Licence Holder Portal at which point the charter and the applicable Rule 4 MFSA Act (Chapter 330 of the Laws of Malta) comes into force. The MFSA will continue to accept submissions by Applicants using the previous application forms until 31 August.