The Malta Financial Services Authority (MFSA) has today issued a circular regarding the Trusts and Trustees Act (Register of Beneficial Owners) (Amendment) Regulations, 2025, published on the 11th of July 2025.
The circular highlights the effects of the amended regulations and is addressed to private trustees, non-EU trustees reporting on TUBOR, registered trustees, and authorised trustees.
Article 74 of Directive (EU) 2024/1640 (AMLD6) is partially transposed by the amendments, which also include other modifications to bring it into compliance and expand duties to private trustees.
Private trustees are covered by Regulation 4, which mandates that they notify the MFSA on TUBOR of beneficial ownership information within six months of the regulations’ effective date, or by the 11th of January 2026.
Regulation 6 simplifies the data standards for allowing access to individuals with legitimate interest and grants access to beneficial ownership information to any national competent body.
The regulations also expand the MFSA’s authority to impose administrative sanctions on private and foreign trustees, as well as the duty to disclose beneficial ownership information changes and submit yearly statements to private trustees and certain foreign trustees.
Authorised trustees providing services to private trustees should inform them of these new requirements and offer guidance.
The MFSA notes that more changes to the Regulations are expected and suggests that trustees refer to FAQs for help on reporting beneficial ownership information.
