Circular Addressed to Companies Authorised to Act as Trustees of Family Trusts

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Circular addressed to companies authorised to act as Trusteesof Family Trusts in terms of article 43B of the Trusts and Trustees Act Submission of the Annual Compliance Return 2021 Reference is made to the which companies authorised to act as Trustees of Family Trusts are required to submit on an annual basis as part of their obligations relating to regulatory submissions. Please be informed that for the 2021 submissions, Trustees may complete the same return template submitted for 2020 as no changes have been made to the template. This is available on the MFSA website and It is suggested to download and save the ACR excel sheet on your desktop to facilitate the workflow and ease of access. the following: Firstly, the Authority had improved the 2020 ACR by adding further drop-down menus to streamline the process of completion. Trustees are therefore reminded that if the field for the response restricts answers using drop-down menus or validations (such as requiring that responses be strictly in numerical format), answers are to be written according to the set specification. Further detail or clarifications are to be provided in the comments column. Submission of Financial Statements and other supporting documentation to the ACR Secondly, Trustees of Family Trusts are reminded of their obligation to submit audited financial statements. Other attachments to the ACR such as the organisation chart, shareholding structure, resolution of the board of directors approving the ACR and compliance reports should be signed by two directors. Submission through LH Portal Trustees of Family Trusts are reminded that the ACR and Financial Statements are to be submitted All Trustees have been supplied with usernames and passwords to be able to access the LH Portal through the following link: https://lhportal.mfsa.mt/. The allocated user for the Trustee is encouraged to verify the username and password supplied. In case where the individuals identified by the Trustee are no longer employed with the said Trustee, the Authority is to be informed, accordingly and to provide the Authority with details of the new user as soon as possible and before the due date for 24 March 2021

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt submissions. Furthermore, any Trustee who still needs to setup an account on the LH portal is requested to provide the Authority with details of the individual identified user. Trustees are reminded that 2021 ACR and the required accompanyingdocuments are to be submitted through the Licence Holder portal within four months from the financial year end in the case of companies, and by the end of April in case of individuals. Any queries with respect to the ACR or the other regulatory submissions are to be sent on fiduciariesoffsite@mfsa.mt.