Regulatory Alerts2019-09-10
Added · Updated
Enhancements to the online portal for the Trusts Ultimate Beneficial Ownership Register (TUBOR)
The Malta Financial Services Authority has introduced enhancements to the TUBOR platform, allowing trustee companies to register up to three users per account. A 'Save Draft' feature enables trustees to save and edit declarations before final submission, while a new 'Transfer' functionality permits outgoing trustees to transfer approved beneficial ownership declarations to incoming trustees pending MFSA approval. Additionally, an annual declaration feature is scheduled for introduction by January 2020 to facilitate the yearly confirmation of unchanged beneficial ownership information.
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