Guidance on the Submission of Notifications for Reclassification of Company Service Providers’ Class of Authorisation

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Guidance on the Submission of Notifications for Reclassification of Company Service Providers’ (CSPs’) Class of Authorisation The MFSA is introducing changes to the manner in which Authorised Persons are to submit notifications for requests for reclassification of their class of authorisation in terms of the Company Service Providers Act. The changes will ensure that Authorised Persons can submit confidential data directly to the MFSA via the Licence Holder Portal. By means of these changes Authorised Persons should notify the Authority, by sending an email on cspsauthorisations@mfsa.mt, indicating their intention and the rationale behind the request for re-classification. The Authority will then guide the Authorised Person on the required documentation for the purposes of processing such a request, which documentation is to be submitted through the Licence Holder Portal (‘LH Portal’). Once the Authorised Person is in receipt of the Authority’s directions in this regard, the Authorised Person should proceed by logging into the LH Portal and selecting the ‘Apply for a Licence’ option: 16 October 2023

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Once the Authorised Person selects the ‘Apply for a Licence’ option, the LH Portal will redirect the Authorised Person to the ‘Application Forms’ section, and the Authorised Person has to select the ‘Applications for Authorisation' option and click on ‘Create’. The Authorised Person will be redirected to the application form submission section, and from the dropdown list in Section A, the Authorised Person has to select the ‘CSP – AA24 – Corporate Services Providers’ option:

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Subsequently the Authorised Persons is required to select the ‘Conversion/Reclassification of Authorisation’ option in Section A: Authorised Persons should then select one of the options under Section B depending on whether the Authorised Person is an individual or a Body Corporate. The Authorised Person should upload the documentation which the Authority indicated in its correspondence in Section C. Since only one document can be uploaded in Section C, if the Authorised Person is requested to provide additional documents, these documents are to be uploaded under Section D.

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Authorised Persons should also verify that all the information required to process the said request is complete and correct before submitting the request for the reclassification through the LH Portal. The Authorised Person will be requested to declare and confirm such completeness and accuracy, by ticking the box found under Section E. The MFSA is adopting a strict position when it comes to incomplete documentation or where documentation lacks in quality and may not proceed to start processing requests for reclassifications. Should you have any queries in relation to the above, kindly send an email on cspsauthorisations@mfsa.mt.