Regulatory Alerts2024-08-01
Added · Updated
Publication of the Credit Servicers and Credit Purchasers Act and Other Relevant Legal Instruments
The Malta Financial Services Authority publishes the Credit Servicers and Credit Purchasers Act (Act No. XXXII of 2024), the Passporting Regulations (L.N. 172 of 2024), the Fees Regulations (L.N. 173 of 2024), and the Conduct of Business Rules on Credit Servicing and Borrower Protection to transpose Directive (EU) 2021/2167. These instruments establish authorization requirements, supervisory obligations, and penalties for credit servicers and credit purchasers, while defining passporting rights for entities operating across EU Member States. The Conduct of Business Rules implement specific Articles regarding borrower protection, communication, and complaint handling, and the Credit Servicers Rule (CSR/01) details application procedures for credit servicer licenses. All listed legal instruments become applicable as of their date of publication.