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New registration rules for non financial professionals – Malta

Malta has launch a consultation paper to enhance its non-financial professionals regime.

As proposed, this amendment will meet FATF standards including registration of notaries, lawyers, company service providers and accountants.

The drafted document propose to define a licensing regime which will allow different professionals to offer further services according to the licence granted, similar regime exists on several crown dependencies.

This is the first reaction of the Malta Financial Services Authority since the Moneyval report produced last September.

Measures also include fine increase, further AML obligations, reporting obligations, properness testing and controls both at on-boarding and on-going.

Source

https://content.maltatoday.com.mt/ui/files/mfsa_consultation_document_on_new_rules_for_csps.pdf

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Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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