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Raising the Bar for Company Service Providers


Office of the​ Prime Minister 
(Malta Financial Services Authority)
​Published on: ​25 October 2019
Running till: ​22 November 2019
​Last Updated: ​25 October 2019
1.        Background

Company Service Providers (CSPs) are crucial within the financial services sector, as they are often the first point of contact for persons wishing to undertake business activity in Malta. In this respect, CSPs are considered to be gatekeepers given their role of preventing persons who are not fit and proper from entering the financial system.

Through this proposal the Authority is aiming to raise the bar for all persons providing the services of a CSP by harmonising market entry requirements and addressing existing expectations gaps.

The Authority’s proposals may be categorised into two: [i] a proposal for a holistic regulatory framework for CSPs in Malta; and [ii] proposals in relation to the Maltese institutional architecture for the regulation of CSPs.  

2.        Consultation Questions
Kindly refer to consultation document - 

3.        Documents
4.        Submission of input
Submissions must be sent by email to the following address:
Submissions must be received by 22 November 2019.                               
We thank you in advance for your input.
Please be informed that submissions will be published on the webpage of this consultation at the end of the scoping phase. The lead Ministry has sole discretion upon the publication of comments.
Received contributions, together with the identity of the contributor, will be published on the Internet, unless the contributor objects to the publication of his/her personal data on the grounds that such publication would harm his/her legitimate interests. In this case the contribution may be published in anonymous form. Otherwise the contribution will not be published nor will, in principle, its content be taken into account.  Any objections concerning the publication of personal data should be sent to the service responsible for the consultation on the following email address:
Data Protection Statement the General Data Protection Regulation and the Data Protection Act (Chapter 586)

The General Data Protection Regulation and the Data Protection Act Chapter 586 regulate the processing of personal data whether held electronically or in manual form. The Ministry for European Affairs and Equality collects only information which is necessary for it to perform its intended functions and is set to fully comply with the Data Protection Principles as set out in the Data Protection Legislation.  Verification of the ID number provided will take place as deemed necessary. All personal data provided will be processed according to the General Data Protection Regulation and the Data Protection Act (Cap 586).​

In addition, please be aware of:
·         Disclosure under the Freedom of Information Act (Chapter 496)
As we are a public authority all documents we hold, including documents related to this public consultation process, may be released following a request to us under the Freedom of Information Act (Chap. 496), unless such request may be subject of an exemption arising from the same Act.

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