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Regulatory Updates

August 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

On the 9 of March 2021, the Use of Cash (Restriction) Regulations (S.L. 373.04) (“the Regulations”) were published in the Government Gazette as Legal Notice 81 of 2021 and came into effect on the same day. On the 3 August 2021, the FIAU published “FAQs on the Use of Cash (Restriction) Regulations.”
Link to the document can be found here.

On the 3 August 2021, the FIAU addressed the consultation paper which has been published by the European Banking Authority (“EBA”) pertaining to the draft Guidelines on the role, tasks and responsibilities of anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officers under Article 8 and Chapter VI of Directive (EU) 2015/849 (the “draft Guidelines”).
Link to the document can be found here.

Asset Management

Local updates

03/08/2021 - Supply Chain Security Attacks
Link to the document can be found here.

04/08/2021 - Circular on Markets in Financial Instruments Directive (‘MiFID II’) and Markets in Financial Instruments Regulation (‘MiFiR’)
Circular can be found here.

05/08/2021 - The Investment Firms Regulation and Directive - 6th Briefing
Link to the document can be found here.

05/08/2021 - Consultation on the Proposal for a Regulation amending Regulation (EU) No 1286/2014
Link to the document can be found here.

23/08/2021 - Circular on the updates made to the Investment Services Rules for Investment Services Providers and Collective Investment Schemes
Circular can be found here.
 

International Update

24/08/2021 - ESMA Consults on Suitability Assessments of DRSP Management Body Members
Link to the document can be found here.

Banking

International update

02/08/2021 - EBA Consults on New Guidelines on the Role of AML/CFT Compliance Officers
Link to the document can be found here.

Company Service Providers

Local update

03/08/2021 - Professional Indemnity Insurance and The Risk Management Function - Clarifications
Link to the document can be found here.

FinTech

Local update

11/08/2021 - MFSA releases a cross-sectoral self-assessment questionnaire on ICT and Cybersecurity Risks Management
Link to the document can be found here.

Insurance

International Update

04/08/2021 - Supervisory activities in 2020
Link to the document can be found here.

Sustainable Finance

Local update

05/08/2021 - Q&A related to the Sustainable Finance Disclosure Regulation (SFDR)
Link to the document can be found here.

Contact us

Fabio Axisa

Fabio Axisa

Assurance Partner, PwC Malta

Tel: +356 2564 7191

Mark Lautier

Mark Lautier

Partner, PwC Malta

Tel: +356 2564 6744

Chris Mifsud Bonnici

Chris Mifsud Bonnici

Senior Manager, Tax, PwC Malta

Tel: +356 2564 6935

Lee Ann Agius

Lee Ann Agius

Manager, Tax, PwC Malta

Tel: +356 2564 4027

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