Amendments to the CSP Act come into force, triggering an anticipated legal reform to Malta’s CSP regulatory framework
The amendments to the Company Service Providers (CSP) Act, set out under Act L of 2020 Company Service Providers (Amendment) Act, came into force today, 16 March 2021. These amendments trigger an anticipated legal reform to Malta’s CSP regulatory framework, which inter alia introduce the categorisation of CSPs into three separate classes by reference to the services offered and eradicate certain exemptions previously applicable to warranted professionals.
The Malta Financial Service Authority (the “MFSA”) has also published the updated Rulebook for CSPs, which can be accessed from: https://bit.ly/3lxgAH7
Applicants have been given until the 16 May 2021 to submit their application to the MFSA for authorisation in terms of the CSP Act.