Regulatory Updates

May 2021

Contact the PwC Malta Regulatory Team for further information in relation to any of the updates or if you wish to discuss how these may impact your business.

Welcome

Welcome to PwC Malta’s Regulatory Updates - giving a recap for this month of the main legislative updates and key regulator activity.

Anti-Money Laundering

Local updates

10/05/ 2021 - Legal Notice 199 of 2021 and Amendments to the Prevention of Money Laundering and Funding of Terrorism Regulations
Link to the document can be found here.

20/05/2021 - Amendments to Sections 4.3.2.4 and 4.3.2.5 of the Implementing Procedures Part I
Link to the publication can be found here.

Asset Management

Local update

3/05/2021 - The Investment Firms Regulation and Directive - 3rd Briefing
Circular can be found here.

International updates

05/05/2021 - ESMA updates its Q&As relating to the Prospectus Regulation
Link to the release can be found here.

5/05/2021 - ESMA publishes Guidelines on the Calculation of positions under SFTR
Link to the release can be found here.

28/05/2021 - New Q&As Available
Link to the release can be found here.

Banking

Local update

13/05/2021 - Circular to Credit Institutions and Foreign Branches on the Remuneration Benchmarking and High Earners Data Collection exercises and other Reporting Developments
Circular can be found here.

International updates

12/05/2021 - The EBA observes achievements in a number of key areas of the supervisory review across the EU, but also highlights items requiring continued attention
Link to the release can be found here.

26/05/2021 - EBA publishes final draft technical standards on own funds and eligible liabilities
Link to the release can be found here.

27/05/2021 - EBA consults on new Guidelines on cooperation and information exchange in the area of anti-money laundering and countering the financing of terrorism
Link to the release can be found here.

Company Service Providers

Local update

05/05/2021 - Deadline for the Submission of Applications for Authorisation as a Company Service Provider (CSP)
Circular can be found here.

Feedback Statements

Local update

18/05/2021 - Stakeholder Consultation on Revisiting the Corporate Governance Framework for Entities Authorised by the MFSA
Link to the publication can be found here.

Financial Stability

Local update

12/05/2021 - Sustainable Finance Disclosure Regulation - Application of Article 17(1) of the Sustainable Finance Disclosure Regulation
Circular can be found here.

FinTech

Local updates

17/05/2021 - European Commission proposes Regulation laying down harmonised rules on Artificial Intelligence - Artificial Intelligence Act
Circular can be found here.

27/05/2021 - Circular to VFA Service Providers on the Provision of Services through Internet Sites
Circular can be found here.

Gaming

Local update

06/05/2021 - FIAU publishes document entitled Enforcement Factsheet
Link to the release can be found here.

Insurance

International update

12/05/2021 - Sustainable Finance Disclosure Regulation, Application of Article 17(1) of the Sustainable Finance Disclosure Regulation
Circular can be found here.