Regulatory Alerts2017-01-26
Added · Updated
Circular to the Market – Assessment Required Prior To Proposing Individuals for Approved Positions
The Malta Financial Services Authority requires regulated entities and applicants to conduct a specific assessment before proposing individuals for approved positions, particularly those already holding MFSA-approved roles. This assessment must evaluate time commitment against the entity's business model and risks, ensure support teams for key functions like compliance are adequately competent, and verify that individuals avoid conflicts of interest under Maltese law. Additionally, entities must carefully consider the nature and implications of any pending investigations, litigation, or sanctions involving the proposed individuals.
Topics
Share