On the 25th of November 2025, the Malta Financial Services Authority (“MFSA”) issued a ‘Dear CEO letter’ to communicate the results of a thematic review of the risk management function of Class C Company Service Providers(“CSPs”). This letter forms part of the MFSA’s wider supervisory drive to enhance governance, culture and resilience across the sector. Although the review is focused on a selected sample, the expectations outlined are relevant to all CSPs authorised in Malta. Under the Company Service Provider Rulebook (“the Rulebook”), CSPs must maintain a risk management framework that allows them to identify, analyse and evaluate risk, by…
We are pleased to issue the fourteenth edition of the Regulatory Compliance Quarterly Update. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to investment services, CSPs, fintech, insurance undertakings and insurance intermediaries. Click here to access the fourteenth Regulatory Compliance Quarterly Update. The Regulatory Compliance Quarterly Update does not purport to give legal, regulatory,financial or tax advice. Should you require further information or assistance, please do not hesitate to contact Michael Psaila,…
For public interest companies with more than 500 employees (“Wave 1 companies”), 2025 marks the first reporting year under the Corporate Sustainability Reporting Directive (“CSRD”). As a result, these companies are applying the European Sustainability Reporting Standards (ESRS) for the first time. The European Commission has been working on streamlining these requirements through what is known as the Omnibus legislative package. This includes proposed amendments to simplify the CSRD, delay some reporting obligations, and refine the ESRS for future years. Despite this, the European Securities and Markets Authority (“ESMA”), has made its position clear. Companies reporting for 2025 must use…
