Circular on Submission of Annual Compliance Return 2020 for Family Trust Trustees

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 a Trustee of Family Trusts in terms of article 43B of the Trusts and Trustees Act Introduction As part of the supervisory work carried out by the Authority, one of the tools used for the collation of ACR, the Authority has clarified certain issues and questions that were addressed. The Authority has further improved the 2020 ACR by adding further drop-down menus to streamline the process of completion. Submission of the Annual Compliance Return 2020 This circular is addressed to all companies authorised to act as a Trustee of Family Trusts in terms of article 43B of the Trusts and Trustees Act. All referred to companies and individuals are hereby requested to complete the ACR for the year 2019. The reporting period for the 2019 ACR covers the Authorised Persons financial year. A copy of the ACR can be found using the following link: https://www.mfsa.mt/firms/regulation/trustees-other-fiduciaries/?ver=5000 It is suggested to download and save the ACR excel sheet on your desktop to facilitate the workflow and ease of access. Submission through LH Portal Authorised Persons have been supplied with usernames and passwords to be able to access the LH Portal through the following link: https://lhportal.mfsa.com.mt/. The allocated user for the Authorised Person is encouraged to verify the username and password supplied. In case where the individuals identified by the Authorised Persons are no longer employed with the Authorised Person the Authority is to be informed, accordingly and to provide the Authority with details of the new user as soon as possible. Furthermore, any authorised person who still needs to setup an account on the LH portal is requested to provide the Authority with details of the individual identified user. 1 April 2020

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Authorised persons are reminded that 2019 ACR and the required accompanied documents is to be financial year end in the case of companies, and by the end of April in case of individuals. The Authority would like however to draw attention to the circular (https://www.mfsa.mt/wp￾content/uploads/2020/03/2020.03.21-Circular-Timing-of-regulatory-reporting-due-to-the-outbreak￾of-COVID-19-2.pdf) issued by the MFSA on 21th March 2020 in relation to the extension of two months being granted to Authorised persons with respect to Financial Statements due by end of March or April 2020. Any queries with respect to the ACR are to be sent on fiduciariesoffsite@mfsa.com.mt.