The key changes introduced by FIR/01 include:
- More clarity on the MFSA’s authorisation process, with specific cross reference to the MFSA’s Authorisation Process Service Charter;
- Clearer understanding on the scope of the Financial Institutions Act, including processes applicable to certain entities that fall out of scope;
- Licensing considerations and expectations for the different categories of financial institutions;
- Overview of the licensing process as well as pre- and post-licensing conditions; and
- The procedures to be followed by financial institutions when modifying or surrendering their authorisation.
Interested stakeholders wishing to share their views on the new FIR/01 may do so on the following e-mail address: fintechpolicy@mfsa.mt. The consultation period remains open until Friday 26 September 2025.
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