Regulatory Alerts2021-03-24
Added · Updated
Circular on Submission of the Annual Compliance Return 2021 for Trustees and Fiduciaries
The Malta Financial Services Authority issued this circular to instruct Trustees and fiduciaries on submitting their 2021 Annual Compliance Return. It confirms that the return template remains unchanged from 2020 but requires strict adherence to drop-down menu validations and the submission of audited financial statements and signed supporting documents. All submissions must be filed via the LH Portal within four months of the fiscal year end, with users verifying their credentials and updating contact details as necessary.
Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Circular addressed to Trustees and other fiduciaries authorised in terms of article 43 of the Trusts and Trustees Act Submission of the Annual Compliance Return 2021 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 and other fiduciaries 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 download and save the ACR excel sheet on your desktop to facilitate the workflow and ease of access. e following: Firstly, the Authority had improved the 2020 ACR by adding further drop-down menus to streamline the process of completion. Trustees and other fiduciaries 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 and other fiduciaries 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. 24 March 2021
Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Submission through LH Portal Trustees and other fiduciaries are reminded that the ACR, Financial Statements and Management All Trustees and other fiduciaries 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 or Fiduciary is encouraged to verify the username and password supplied. In case where the individuals identified by the Trustee or Fiduciary are no longer employed with the said Trustee or Fiduciary, 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 submissions. Furthermore, any Trustee or Fiduciary 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 and other fiduciaries are reminded that 2021 ACR and the required accompanying documents are to be submitted through the Licence Holder portal within four months from the . Any queries with respect to the ACR or the other regulatory submissions are to be sent on fiduciariesoffsite@mfsa.mt.