Malta: Financial Services Authority Issues Guidance on Fitness and Properness Assessments

On July 2, 2019, the Malta Financial Services Authority (MFSA) issued guidelines to provide clarification on its expectations in relation to fitness and properness requirements to be complied with by entities applying for a licence.

According to the guidance paper, when assessing the fitness and properness of individuals holding senior positions within a licensed entity, the MFSA focuses on the satisfaction of four primary criteria, to be assured that applicants will be able to abide by their legal obligations.

These are:

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