The New Company Service Providers Regime (in light of Act L of 2020)
The Company Service Providers (Amendment) Act, 2020 was passed by Parliament as Act No. L of 2020 and published on the 13 November 2020. With the coming into force of Act No. L of 2020, the requirement of MFSA authorisation to provide corporate services has been extended to those previously exempt from authorisation and supervision under the Company Service Providers (CSP) Act (Cap. 529 of the Laws of Malta), namely warranted professionals, as well as persons operating under the De Minimis Rule.
With the coming into force of this new regime, the aims of the Authority remain the same, that is, the risk-based supervision of Company Service Providers and their level of compliance with the applicable legislative framework and thereby the protection of the reputation and the future of the sector in Malta. The regime has been built on the principle of proportionality, as well as on the adoption of a risk-based approach.
The Authority has ensured that the legislative framework set in place is well-supplemented with Guidance Notes, Rules and the Exemption Regulations, to support the sector in understanding its regulatory obligations and to ensure that the regime is sufficiently robust. The Authority will be further addressing the information requirements of applicants through further documentation, direct communication in the form of a webinar (date to be advised) and through designated mailboxes.
Any queries should be sent to the Authority on [email protected].
Company Service Providers Rulebook
Guidelines to the New CSP Regime Application Process
Guidance Note on the Application of the Company Service Providers Act
Company Service Providers – Notification Form
Company Service Providers – Frequently Asked Questions
Circular regarding Deadline for the Submission of Applications for Authorisation as a Company Service Provider
Circular addressed to Trustees & other Fiduciaries and VFA Agents providing CSP services
Circular on the CSP Reform – Coming into Force of Act No. L of 2020
Consultation Document on the Updated CSP Rules
Feedback Statement to the Consultation Document on the Updated CSP Rules
L.N. 105 of 2021 – Company Service Providers (Exemption) Regulations, 2021
L.N. 117 of 2021 – Company Service Providers Act (Fees) (Amendment) Regulations, 2021
Webinar 15 April 2021 – Presentations
Webinar 15 April 2021 – Recording
Webinar 15 April 2021 – Q&A Recording Morning Session