News and developments
CSP Rulebook Update
wherein it announced certain changes to the Rulebook for Company Service Providers (“CSP Rulebook”). The changes came into effect on the same day.
This set of updates to the CSP Rulebook focuses mainly on streamlining and simplifying regulatory submissions requirements for Company Service Providers (“CSPs”), namely:
Authors: Marina Grech, Benjamin Farrugia
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- CSPs are no longer required to submit the Certificate of Compliance which would have been due on the 31 December or each year;
- Under Threshold CSPs are no longer required to submit Annual Self-Declarations;
- individual CSPs are no longer required to submit standalone Annual Financial Returns, Statements of Solvency or the accompanying Balance Sheet;
- CSPs constituted as Partnerships, including Warranted Civil Partnerships, authorised to act as Under Threshold Class A CSPs are no longer required to submit any financial data to the MFSA.
Authors: Marina Grech, Benjamin Farrugia