On May 26, 2025, MLT FSA announced changes for company directors and secretaries.
Made enhancements to current regulatory framework for CSPs; post consultation adopted more proportionate regulatory approach in finalized Rulebooks published.
Until now, individuals acting as directors or company secretaries in no more than 2 entities were not required to obtain authorization from, or register with MLT FSA.
For greater oversight of group, to assess potential risks they may pose to jurisdiction, new legislative framework now requires they submit notification re positions they hold.
MLT FSA will be able to carry out risk assessment and determine appropriate mitigating measures re these individuals; notifications must be submitted by Jul. 16, 2025.
Separate enhancement for specific category of CSPs currently offering directorship and company secretary services to up to 10 involvements; per limited scope of activity permitted, simplified and streamlined application process is introduced.
Adopts more consolidated, efficient method of data collection for these Limited Company Service Providers, single annual return to be sent for FSA-FIU purposes.
By introducing Notification requirement, simplified process for Registered CSPs, it is enhancing visibility and risk management across sector without creating undue burden.
To support impacted individuals and entities, issued comprehensive Guidance Note and FAQs (available on website); the goal remains: to safeguard integrity of the financial system while supporting informed and compliant market.
MLT FSA consulted on enhancement to the company service providers framework.
Consultation
Enhancements proposed to regulatory framework applicable to individuals who provide directorship/company secretary services to companies or hold equivalent positions in other legal entities but fall within specific criteria established by the Authority.
Revising legal framework to introduce 2 new concepts of registration and notification applicable to individuals providing the service of director/company secretary to a company or holding a similar position in other legal entities, to different extents.
Introducing new Rulebook applicable solely to individuals who qualify for registration.
Increasing the number of involvements both for Class B Under Threshold CSPs as well as Class B CSPs as a result of the introduction of the new categories mentioned above.
Effectiveness
Closing date of consultation is Nov. 15, 2024.
Nov. 2024 Media Release
On Nov. 7, 2024, MLT FSA issued more information on the current consultation.
It further detailed the changes proposed and reminded of end date being Nov. 15.
Enhancements proposed are meant to restore level playing field across various classes of CSPs, achieve higher degree of proportionality, but not at the expense of lowering the compliance standards that which MLT FSA managed to instill.
In May 2025, MLT PRL issued Act X of 2025 company service providers, see #255044.
May 2025 New Rules
On May 26, 2025, MLT FSA announced changes for company directors and secretaries.
Made enhancements to current regulatory framework for CSPs; post consultation adopted more proportionate regulatory approach in finalized Rulebooks published.
Until now, individuals acting as directors or company secretaries in no more than 2 entities were not required to obtain authorization from, or register with MLT FSA.
For greater oversight of group, to assess potential risks they may pose to jurisdiction, new legislative framework now requires they submit notification re positions they hold.
MLT FSA will be able to carry out risk assessment and determine appropriate mitigating measures re these individuals; notifications must be submitted by Jul. 16, 2025.
Separate enhancement for specific category of CSPs currently offering directorship and company secretary services to up to 10 involvements; per limited scope of activity permitted, simplified and streamlined application process is introduced.
Adopts more consolidated, efficient method of data collection for these Limited Company Service Providers, single annual return to be sent for FSA-FIU purposes.
By introducing Notification requirement, simplified process for Registered CSPs, it is enhancing visibility and risk management across sector without creating undue burden.
To support impacted individuals and entities, issued comprehensive Guidance Note and FAQs (available on website); the goal remains: to safeguard integrity of the financial system while supporting informed and compliant market.
